2017 Is Shaping Up To Be the Best Year Yet For Obamacare

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Last year, several insurance companies abandoned Obamacare because they were losing money. This year, premiums have spiked 25 percent on the exchanges. As a result, Paul Ryan says insurance markets are “collapsing,” and Republicans are promising to repeal Obamacare practically on Day 1 after Donald Trump takes office.

But a funny thing has happened on the way to the collapse: Obamacare is more popular than ever. Charles Gaba is the go-to guy for Obamacare enrollment data, and the simplified chart on the right is based on his more detailed versions here and here. Last year at this time, a little over 11 million people had signed up on the exchanges. This year, a little over 12 million have signed up. Here’s what this means:

With premiums up 25 percent, a little arithmetic suggests that insurance company revenue from Obamacare will be more than a third higher this year than last year.

Time will tell what this means, but it doesn’t look like a death spiral. The premium hikes are painful, but clearly people find health insurance worth it even at the higher price. What’s more, about 85 percent of Obamacare customers qualify for federal subsidies, and for them premiums are up only slightly—and not even that much if they also shop around.

So: insurance companies will be in pretty good shape this year. A few people have seen sharp premium increases, but the vast majority haven’t. Uncle Sam is picking up most of the tab. In other words, 2017 is shaping up to be the healthiest year on record for Obamacare.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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