The deadline for individuals to secure health insurance by January 1, 2014 through the government website has come and gone and even though there were record numbers of people logging on there could be more problems lurking for the insurance industry.
Creighton University Economist Ernie Goss believes the federal government eventually will have to bail out insurance companies in the first half of 2014. He says not enough young, healthy individuals are signing up for the Affordable Health Care Act and only higher users of health insurance on onboard. Goss says that means the pay-out will be greater and the government will have to step in to help out struggling providers. He says that is a move that Congress must avoid at all costs.
Goss says there are other problems with the Affordable Health Care Act that haven’t been addressed. He says signing up may be the law but many will not be able to afford the premium and therefore remain uninsured.