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Well, there goes Obamacare

Bill Coffin | December 20, 2017

I used to cover the health insurance industry closely, right as Obamacare became reality. I always appreciated the intent of the law, if not its execution. Huge, internally inconsistent, and hobbled with weird legal workarounds, the law felt like the best the Democratic supermajority could pull together in the time it had. But what it came up with was not pretty. I know “perfect is the enemy of good,” but Obamacare stretched that to its limit.

One of those workarounds was the individual mandate, which requires all Americans to buy health insurance. The idea is that younger, healthier Americans—who don’t always have the kinds of jobs through which they can buy into a group healthcare plan—would be forced to pay into a system that has to fund 1) spiraling health costs in general and 2) the spiraling health costs of an aging Boomer generation in particular. This was crucial to counterbalance one of the law’s other chief planks—prohibiting health insurers to cite pre-existing... To get the full story, subscribe now.