Report: 3.5 million Americans already issued health insurance cancellations
Health insurance companies have already notified at least 3.5 million Americans that their plans are being cancelled as a result of Obamacare.
That number, reported Monday by the Associated Press, is the latest data point in a string of bad news for the Obama administration, which has struggled to explain why the president regularly told Americans that under Obamacare, they wouldn’t lose their health plans if they liked them.
The president attempted to explain away the cancellations last week as beneficial to American consumers.
Those facing cancellations are Americans “who’ve got cut-rate plans that don’t offer real financial protection in the event of a serious illness or an accident,” Obama said from Boston last week.
Under Obamacare, health plans are required to cover a wide variety of services, including higher cost services that many young and healthy Americans often avoid due to cost considerations.
At least 12 million Americans are expected to have their health plans cancelled as a direct result of Obamacare.
One health expert told The Daily Caller that he expects upward of 129 million health plan cancellations by the end of 2014.