The Emerging Obamacare Truth Is Disarray

A remarkable truth about Obamacare is how many aspects of its initial programs and initiatives are already in disarray.

The Obama team is woefully behind its own schedule for implementing features of the legislation. The critical regulations outlining what the Obamacare insurance benefit will look like was supposed to be out more than six months ago. Now it looks like this regulation won't be dropped until after the election. This is just one key aspect of the program that is way behind the administration's own timeline.

These facts alone should give proponents of the law pause. But the early experience with the elements of Obamacare that have already kicked in is downright dismal.

The core of Obamacare doesn't get started until 2014, when state-based exchanges are supposed to be formed as places for consumers to buy the legislation's tightly regulated, subsidized coverage. But early features of Obamacare are already failing.

· The temporary "high risk" pools that Obamacare created, to provide a way for those with pre-existing health conditions to get insurance immediately, are undersubscribed yet way over budget. The Congressional Budget Office estimated that the $5 billion allocated to these pools could enroll 200,000 consumers. They envisioned enrollment growing to more than 400,000. But only 77,877 have signed up as of July, yet the program is way over its budget. More than a quarter of these state-based risk pools are short on cash.

· The CLASS Act, which was supposed to provide consumers government-financed long-term care insurance has been abandoned, blowing an $86 billion dollar hole in Obamacare's cost estimates. The CLASS Act was never financially viable. Its costs would have outstripped revenue as soon as it was in full operation. But since it took in money five years before it started to pay out benefits, budget gimmickry let Mr. Obama capture that revenue and use it to finance Obamacare. In abandoning the measure, the President's own health secretary called the scheme "unsustainable." ...

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