(From The Hill)
The risk corridors were never more than a bribe to get insurers into ObamaCare’s marketplaces. The program was supposed to transfer excess funds from exchange plans with lower-than-expected claims to insurers with higher-than-expected claims to safeguard them against losses.
The exchanges’ finances haven’t worked as planned. At 11.1 million, this year’s enrollment is less than half what the Congressional Budget Office expected. On top of that, young people only made up 28 percent of enrollees in 2016 — well below the 40 percent needed to keep the exchanges financially viable…
…It’s not yet clear whether Team Obama’s pro- or anti-bailout forces will win out. But the losers are already clear — the taxpayers who have been forced to underwrite this mess and the patients who are left with limited exchange options and soaring premiums and deductibles.