American consumers figured out from the beginning that Obamacare wasn’t worth buying. Now insurance companies are wising up. Aetna is withdrawing from Obamacare exchanges in 11 states, following United Healthcare Group’s decision last April to leave 34 states. Which will be the next domino to fall?

In a well-functioning insurance market, such as for automobile accidents, insurance carriers craft countless plans to meet exactly the needs of millions of different individuals. Typically, only catastrophic unexpected events are covered, not the predictable oil changes. Automobile insurance is real insurance, and automobile owners as well as insurance companies eagerly participate.

Not so for Obamacare, which is not insurance at all. Under Obamacare annual physicals, which are predictable and routine, are covered without charge, but major surgery requires payment of a $6,000 to $12,000 deductible.