CBS News: Obamacare's Entire Financial Model is In Danger of Collapsing

With so much of the media's attention fixated on Obamacare's technological meltdown, some important storylines have gone under-explored. CBS news, to its credit delved into one of them today, noting that of the people who have successfully obtained coverage under the new law, it appears that the vast majority of them are new Medicaid enrollees. And that poses a mortal threat to the entire structure of the law:

The disastrous rollout of HealthCare.gov may have another serious problem: A CBS News analysis shows that in many of the 15 state-based health insurance exchanges more people are enrolling in Medicaid rather than buying private health insurance.

And if that trend continues, there's concern there won't be enough healthy people buying health insurance for the system to work...

The newly insured in some of those states are overwhelmingly low-income people signing up for Medicaid at no cost to them. Matt Salo, executive director of the National Association of Medicaid Directors, said, "We're seeing a huge spike in terms of Medicaid enrollments." He says the numbers have surprised him and state officials.

CBS News has confirmed that in Washington, of the more than 35,000 people newly enrolled, 87 percent signed up for Medicaid. In Kentucky, out of 26,000 new enrollments, 82 percent are in Medicaid. And in New York, of 37,000 enrollments, Medicaid accounts for 64 percent...

More @ Townhall