http://www.ocregister.com/articles/california-658869-covered-state.html
The article above indicates:
Covered California is $80 Billion bucks in the hole
At that rate alone it is unsustainable(never mind a train that goes nowhere fast)
Enrollment for this year fell 300,000 short of the goal set and that was a mark that was synthetic in the first place, as it recognized certain realities in re-enrollment.
Speaking of re-enrollment: Covered California retained only 65% of previous enrollees.
That’s called “churn” in business parlance and anything over 10% retention is considered an abysmal failure in the business world and usually a predictor of further failures in growth and realistic sustainability of going enterprise.
I don’t know how to quantify a 65% retention rate and its effects on future years but, it definitely portends a colossal disaster...
This article was written by a news organization that is generally supportive of Jerry Klown and Fauxbama, so I don’t know what to make of it either...
What to make of it-single payer, nationalised socialised “health care”.
“I don’t know how to quantify a 65% retention rate and its effects on future years but, it definitely portends a colossal disaster...”
The 35% is probably about the percentage of real sickies who had expensive things fixed and don’t need coverage anymore. Really throws off actuarial calculations.
“I don’t know how to quantify a 65% retention rate and its effects on future years but, it definitely portends a colossal disaster...”
Statistically, if there’s a 65% drop each year for 5 years, there will be a cumulative drip of 88.4%, retaining only 11.6%. In just 5 years.