Spiraling Costs and a Broken Insurance Market—What Went Wrong With ObamacareSpiraling Costs and a Broken Insurance Market—What Went Wrong With Obamacare
Signs for Obamacare health insurance plans lay next to a fence in Columbia, S.C., on Jan. 28, 2023. Shannon Stapleton/Reuters

Spiraling Costs and a Broken Insurance Market—What Went Wrong With Obamacare

Masked by subsidies, the one-size-fits-all system has pushed up prices across the broader medical insurance market, say experts.
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The government shutdown might be over, but the political and financial problems that dog Obamacare haven’t gone away.

Congress is now debating a second extension of the temporary tax credits that have shielded Obamacare users from rising costs for five years. Without the subsidies, Democrats say millions of Americans will be priced out of the health insurance market at the stroke of midnight on New Year’s Eve.

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