Obamacare's Insurance Exchanges Are Already Turning Into A Disaster

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Investors Business Daily:

Devoted users of Internet radio apps like Pandora may soon hear unexpected sound bites on their favorite music channels — ads touting ObamaCare.

That's right. In an attempt to drum up support for the law's health insurance exchanges, some states are planning advertising campaigns that could include everything from pro-ObamaCare coffee-cup sleeves to spots on popular music-streaming sites.

But no amount of advertising spin can obscure the fact that ObamaCare's insurance exchanges are shaping up to be disasters — saddling some consumers with higher premiums and state taxpayers with significant new spending obligations.

ObamaCare calls for the creation of state-administered health insurance exchanges, where Americans without employer-provided coverage can shop for government-approved policies. Enrollment is scheduled to begin Oct. 1, and coverage will take effect in 2014.

Those with incomes between 133% and 400% of the federal poverty level — up to $92,200 for a family of four as of 2012 — will qualify for federal subsidies.

States were given the choice of setting up their own exchanges, partnering with the federal government, or letting the feds handle things entirely.