Shortly after the federal Obamacare exchanges launched on October 1, 2013, millions of Americans received policy cancellation notices in the mail. By the end of 2013, more than 5 million people lost their insurance as a result of Obamacare making their plans illegal under the new law.
But that was just the beginning. Although President Obama has delayed the employer mandate to 2015, businesses are planning for the future right now.
Healthcare experts estimate nearly 80-100 million private and employer provided policies will eventually be cancelled as a result of Obamacare.
Stan Veuger of the American Enterprise Institute said that in addition to the individual cancellations, "at least half the people on employer plans would by 2014 start losing plans as well." There are approximately 157 million employer health care policy holders.
Avik Roy of the Manhattan Institute added, "the administration estimated that approximately 78 million Americans with employer sponsored insurance would lose their existing coverage due to the Affordable Care Act."
Last week, an analysis by the American Enterprise Institute, a conservative think tank, showed the administration anticipates half to two-thirds of small businesses would have policies canceled or be compelled to send workers onto the ObamaCare exchanges. They predicted up to 100 million small and large business policies could be canceled next year.
In an interview with Fox News' Bill O'Reilly before the Super Bowl on Sunday, Obama refused to admit that promising the American people they could keep their health plans under Obamacare was one of his biggest mistakes. Half of voters believe the president knowingly lied about people being able to keep their plans.