Pick a number. Any number.
That seems to be what is happening with Nevada’s Silver State Health Insurance Exchange. The AP reports that Nevada has signed up 513 people for ObamaCare coverage in its first month.
But SSHIX’s twitter account, @NVHealthLink, shows 9,231 individuals have been determined to be eligible for Advanced Premium Tax Credit, federal subsidies, and 16,590 individuals have been found to be eligible for Medicaid, while 1,997 applicants selected insurance plans. But only 513 have purchased insurance, less than a half a percent of the anticipated 118,000 expected to enroll by the end of March.
According to the Nevada Division of Insurance, 24,623 people have had their existing individual insurance policies canceled — unable to keep their plans, whether they liked them or not.
Here’s another number from a Review-Journal story: $66 million. That’s the amount of a federal loan given to start up Nevada Health Co-op. Low enrollment numbers have executives at the new company worried. The Co-op has a target enrollment of 30,000 in its first year. It is one of only two choices in rural Nevada on the exchange, which is the only place to qualify for those subsidies.
Mike Willden, director of the Nevada Department of Health and Human Services, told AP the state has already added 14,000 to Medicaid rolls this year. That 16,590 — and who knows how many more — could be added to Medicaid coverage on Jan. 1 when the state’s expanded coverage starts.
In general, those making 133 percent of the federal poverty level (currently $11,500 for one person, $15,500 for a couple and $23,500 for a family of four) will be eligible for Medicaid. Those making 133 to 150 percent of poverty would pay 3 to 4 percent of income for insurance. As income increases, the percentage of income required increases to 9.5 percent at 400 percent of the federal poverty level. This means a family of four making $94,000 is eligible for premium subsides. A family of eight could earn a tax credit if its income is less than $158,000. With higher incomes you have to pay the market rate.
ObamaCare is actuarially unsound. As only the oldest and sickest sign on, for subsidies and Medicaid coverage, pick a number. Any number What ever it is will be coming out of your pocket.