Obamacare Costing Jobs for Hundreds — And Coverage for Thousands
The Des Moines Register reports that last week, Iowa-based insurer American Enterprise Group announced “it will exit the individual major medical insurance market, making it the 13th company to pull out of some portion of Iowa’s health insurance business since June 2010” – mere months after Obamacare passed. As a result, the 35,000 individuals receiving coverage from American Enterprise’s individual insurance policies will now lose their current coverage. For these individuals, the promise that “you will not have to change plans….nothing will change under the Obama plan – except that you will pay less” has once again proven hollow.
Just as important, the Register story highlighted the fact that American Enterprise’s exit from the individual market “means 110 employees will lose their jobs over the next three years – 40 in Des Moines and 70 in Omaha.” It’s the most recent indication that yet another Obamacare promise – that the law “will create 4 million jobs – 400,000 jobs almost immediately” – has also fallen short.