“Part of the problem, I think, is that it’s been so difficult for people to sign up, and so the only ones who’ve persevered – sometimes trying a hundred times – are people who really have serious health problems.”
A death spiral – the insurance pool equivalent of bankruptcy – occurs when too many older and sicker people sign up for insurance relative to the number of younger, healthier people, Goodman explained, forcing everybody’s premiums up. But as premiums rise, even less young people sign up for coverage.
“That’s what we’re seeing so far,” Goodman told CNSNews.com. “Over half of all the people who enrolled are above the age of 45, and older people are more expensive [to insure]. We’re also seeing 20 percent of the people who are enrolling are going for the gold or platinum plans. Those people tend to be sick. They’re buying the more comprehensive plans because they plan to use a lot of health care.”