On the recordJuly 26, 2017
Madam President, I don't need to tell anyone why we are here. We are here because ObamaCare is fundamentally broken. That is clear. It is evident. Everybody knows that. A combination of soaring premiums and rapidly decreasing insurer participation has left the law's centerpiece--the healthcare exchanges--literally on the brink of collapse. Insurers are fleeing. Nationwide, 141 insurers have registered to offer plans on the exchanges in 2018, which represents a 38-percent drop from 2017, and that is on top of a nearly 30-percent drop in insurer participation from 2016 to 2017. If the trend of the past 2 years continues, the final number of insurers offering plans on the exchanges in 2018 is likely to be roughly half the number that offered plans in 2016--a year ago. At least 40 counties around the country are likely to have no ObamaCare insurer in 2018 and another 1,300-plus counties are likely to have just one choice of insurer. President Obama once said that shopping on the exchanges would be like buying a TV on Amazon. For a lot of people next year, it is going to be like shopping for a TV on Amazon, if Amazon only offered one brand of TV. Of course, for some people it is going to be like shopping for a TV on Amazon only to discover that Amazon has no TVs at all. Another thing ObamaCare was supposed to do was make health insurance more affordable. That hasn't worked too well. Premiums on the exchanges have soared and soared again.…





