Physician Participation in Obamacare Plummets 20%…

The number of physicians who say theyre accepting health insurance plans offered on Obamacares federal and state marketplaces has plummeted nearly 20 percentage points, creating yet another crack in the president's rapidly buckling health care law. 

According to a recent survey by SERMO, a social network for physicians, about 57 percent of doctors said they wont be taking new patients insured by the plans next year. Thats down about four percentage points from last year, when 61 percent of physicians said the same, Forbes reported Monday.

But a similar survey conducted by the Medical Group Management Association back in 2014 showed that at the time, 76.5 percent of physicians said their practice were accepting insurance plans offered on the state and federal marketplaces.

Based on these two surveys and a little basic math, we find the number of physicians accepting ACA plans has fallen an astounding 19.5 percentage points heading into Obamacares fourth enrollment period a pretty remarkable decline, considering its been just three years since the exchanges were first opened.

Nancy Pelosis repeated assurances notwithstanding, the shine has clearly worn off the presidents affordable health care law for insurance companies as well, whove been bailing out of the program in droves for more than a year thanks to plummeting profits. Thanks to this massive scaling-back, many customers who purchase plans through the federal and state exchanges will be left with only one insurer to choose from.

The law doesnt seem to be faring too well with everyday Americans, either. In fact, the number of Americans who have a high opinion of their health care is also falling six years after the passage of the ACA a law that was supposed to make health care more accessible, allegedly without sacrificing its quality.

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