So it begins: First U.S. city set to see complete collapse of Obamacare - Liberty Unyielding
Tennessee is one of the largest casualties of the current health care system. Three insurers have pulled out of the state entirely, the state's co-op failed, and premiums continue to skyrocket annually by double digits. Tennessee's health commissioner has all but given up, describing the state's health care system as "very near collapse."
Humana, the city's only remaining insurance provider on its Obamacare exchange, announced it is exiting the market in 2018. When that happens, Knoxville citizens will be in a rough spot. Unless another insurance provider fills Humana's place, some 40,000 people in the Knoxville area will likely be left without the option to purchase an Obamacare-subsidized insurance policy, CNN reports.
Knoxville is illustrative of one of the main problems with Obamacare: It doesn't promote market-based competition. Insurers pull out of marketplaces where it is not cost-efficient for them to provide services, and, as a result, consumers are left with fewer options at higher prices.
