So says Megan McArdle here:
I've predicted that lots of parts of Obamacare will not work the way they're expected to. But here's one I wouldn't have predicted: the high-risk pools, which were meant to tide people over until 2013, have signed up just 18,000 people as of March.
There were supposed to be millions of people who were uninsurable because of pre-existing conditions. We heard lengthy testimony about their terrible plight. I don't think it's too strong to say that this fear . . . was one of the main reasons offered for the health care overhaul.
Which just goes to show you that fear is a lousy reason to do anything, except run like hell from a bureaucrat wielding a butcher knife against your way of life.
The budgeted amount for the program was $5 billion to cover about 200,000 enrollees until ObamaCare kicks in in 2014, even though the Medicare actuary predicted there would be 400,000 enrollees (doesn't this tell us that we ought to wonder about everything else the Medicare actuary predicts?).
Now they're changing the rules to make it easier and cheaper to sign up for the high risk pools so the regime can say the program is a success.
