White House: Insurers are making a profit off Obamacare

Health insurers profited under Obamacare last year thanks to charging higher prices to customers and receiving more government funding after years of incurring losses, according to a report by the White House’s Council of Economic Advisers.

In prior years insurers charged lower premiums and more sicker, costly enrollees signed up for coverage while the proportion of healthier enrollees to balance out the expenses was not as high as expected. After seeing millions in losses because of this unbalance, many large insurers dropped out. But those who stayed charged more for premiums and held monopolies on their markets.