Are millennials going to have health care in 10 years?

I just graduated from college, and I’m worried that recent developments in the health care sector of our economy foreshadow a bleak future for young people. Will I have access to care when I hit 30 years old? Thousands of Americans are losing insurance and the promise of “affordable care” seems like it was a lie.

Obamacare has created 23,000 newly uninsured people.

Connecticut’s state insurance commissioner Katharine Wade was recently forced to close the state’s health insurance co-op, HealthyCT, due to its hazardous financial condition. As of December 31, 2016 their members will no longer have any insurance.

Since June 2012, HealthyCT has received almost $128 million in federal loans, which includes a September 2014 solvency loan for $48.4 million. By this time, the co-op had planned to have over 70,000 enrolled members, but never came close to that goal with today’s current enrollment of just 23,000 members.

HealthyCT has been limping along for some time, but was pushed over the cliff once the Centers for Medicare and Medicaid Services announced the payment schedule for co-ops in the last month. Under Obamacare’s risk adjustment program, money is redistributed from insurers with healthy customers to insurers with sicker, more costly customers. The Department of Health and Human Services expects HealthyCT to pay $13.4 million to cover insurers in other states. HealthyCT, whose website slogan states “Plans for People Not Profit,” apparently failed to charge their healthy members enough to cover states that typically have more unhealthy people.