The ObamaCare enrollment letdown to come

If we assume, best case, that 33 percent of the 7.1 million were previously uninsured, that works out to to about 2.3 million people. But as we all know by now, not everyone who signs up actually pays. The McKinsey survey found that previously uninsured people were far less likely to pay. In fact, just 53 percent followed through. To be generous, let’s assume they bring this up to 80 percent. That means the total number of enrolled but previously uninsured people will be about 1.85 million.

That’s a lot of newly insured people but it’s only a tiny fraction of the 7.1 million announced today or the 45 million uninsured the administration said Obamacare was supposed to address. We’ve spent four years and hundreds of millions of dollars on websites and media outreach to pick up fewer than 2 million enrollees. And that’s not to mention that the vast majority are receiving a government subsidy to offset the cost.

One might look at all of this and conclude we’re not getting a lot of bang for our buck.