ObamaCare Rollout: Many signing up for Medicaid rather than Private Plans

Did Harry Reid have a Nostradamus moment when he said that Obamacare was a step towards a Single-Payer System?

Obamacare exchanges appear to have been built to fail, and now this:

While virtually all the ObamaCare focus is trained on the program's dysfunctional website, another problem could be emerging -- in states where individuals are able to sign up, far more are enrolling in Medicaid than private plans. 

For now, the statistics are spotty. The Obama administration still hasn't provided figures on how many people have successfully enrolled through the federally run exchanges. Some, but not all, states have provided their own relatively up-to-date figures. 

But for those that have, the lopsided numbers show Medicaid is getting the lion's share of enrollees. 

In Washington state, more than 35,000 people have signed up for coverage since Oct. 1. Of them, just 4,500 went into private plans. Roughly 31,000 signed up for Medicaid -- with coverage kicking in sometime between now and Jan. 1. 

The director of the state's Health Care Authority said they were "pleased by the strong response of Medicaid-eligible residents." 

But the imbalance -- if it does not even out in the months to come -- could create problems for private insurance companies which are relying on a major influx of new and healthy customers to make the system hum. 

"There are a lot of elements of this law that have to work, that must work -- otherwise the whole thing collapses," the Cato Institute's Michael Cannon said. "They need -- need -- lots of healthy people to sign up for insurance through the exchanges."

Read the rest of the story HERE and view related videos below:

If you like what you see, please "Like" us on Facebook either here or here.
Please follow us on Twitter here.