Key Points:
The Utah Health Exchange is failing to meet its goals. It is almost certainly true that the administrative costs of operating an exchange are greater than the administrative costs of the traditional small-group market.
Any exchange that offers unsubsidized, voluntary coverage will likely have the same poor results as the Utah Health Exchange.
Reformers who believe that they can overcome the federal governments discrimination against individually owned health insurance by establishing such exchanges are misguided.
Only federal tax reform canremove the impediment to individually owned health insurance.
