Today’s short post on Obamacare and how it is harming us all: The Insurance Death Spiral, in which only sick people buy health insurance and insurance companies go broke trying to cover them, leading to increased rates on sick people, and the eventual bankruptcy of the insurance companies, is already starting to happen.
Now that HealthCare.gov has tripped up all but the most committed customers, health care analysts are taking another look at the “death spiral” scenario — and some are worried that it’s already playing out before their eyes.
“This is not a political attack — I think we’re already there. I really do,” said Robert Laszewski, a consultant who works with health insurance companies. “If everyone is hearing that there are all these problems with the website and you have to do all these workarounds, who’s going to do the workarounds? Sick people.” <source>