The Brokerage Inc. President Emeritus: 'We almost have to call' Obamacare 'the Unaffordable Care Act'

Mike Smith, president emeritus of The Brokerage Inc. said the Affordable Care Act, also known as "Obamacare" has become increasingly unaffordable.

“We almost have to call that the Unaffordable Care Act, because now all of a sudden we’re seeing significant premium hikes,” Smith said on the podcast.

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Smith, who has worked in the health insurance industry for more than three decades, said the Affordable Care Act expanded coverage opportunities for millions of Americans but also created new affordability challenges as premiums increased over time.

During the interview, Smith explained how enhanced premium tax credits temporarily helped consumers maintain coverage after premiums rose sharply between 2014 and 2020. He also discussed how the expiration of those subsidies in late 2025 led some consumers to drop coverage due to rising costs.

Smith said the healthcare industry has continued searching for alternative coverage models, including limited major medical plans, healthcare sharing programs, and short-term duration policies.

“We are seeing some level of creativity at play, but there’s not really a magic bullet here in this solution,” Smith said.

The discussion also explored the growing role government programs play in financing healthcare coverage in the United States. Smith said trends across Medicaid, Medicare Advantage, and Affordable Care Act marketplaces suggest policymakers may eventually face increased pressure to consider broader government-backed healthcare solutions.

“At some point, I do think we’ll have to acquiesce and admit that there’s just not really a reasonable private market solution that we’re gonna have to somehow partner up,” Smith said.

About the Guest:

Mike Smith is President Emeritus at The Brokerage Inc., a health insurance marketing and distribution organization that works with independent insurance agents and health insurance carriers across the United States. Smith has worked in the health insurance industry for more than three decades, with experience involving Affordable Care Act marketplaces, Medicare Advantage, individual health insurance, and healthcare policy trends.

During his career, Smith has worked with insurance brokers, carriers, and consumers navigating changes in healthcare coverage, insurance regulation, healthcare affordability, and enrollment systems. He has also discussed trends involving healthcare subsidies, insurance market stability, Medicaid policy, and alternative healthcare coverage models.