The exchanges are hurting. Uwe Reinhardt, among others, thinks the individual mandate isn't stiff enough and that we're too wimpy about its enforcement. Adrianna, among others, thinks the premium subsidies may be big enough to keep healthy people in the market.
I don't know who's right, but if we're pinning our hopes on the premium subsidies, there's trouble ahead. Through 2018, there's a cap on the percentage of your income that you have to devote to premiums. As premiums go up, so too do the subsidies.
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