Obamacare Architect Ezekiel Emanuel: ‘Individual Insurance Market Is Going Away’

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A former adviser to the Obama administration and one of the key designers of the Affordable Care Act, Dr. Ezekiel Emanuel, has admitted that the future looks grim for the individual insurance market.

In an interview with Fox News, he said:

“Insurance companies don’t want, insurance companies don’t want the individual market as it’s constructed. They see the future. That individual market is going away. They don’t want to invest in it.”

When Dr. Emanuel and his team were drafting the Affordable Care Act, one of the biggest assumptions they made was that the subsidized prices on the exchanges would drive competition and encourage insurance companies to lower their prices for individual insurance. Instead, insurance companies are abandoning the individual insurance market altogether.

Insurance companies see the individual market as a bad investment; they can’t make money from it. And now that they’ve begun moving away from selling individual plans, we are already seeing millions of casualties, those whose plans have been canceled and who now have no choice but to “shop” for insurance from the limited options on the government marketplace.

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