As I’ve written previously, the “news” that so many million Americans have signed up for Obamacare is meaningless. It’s the law. If you don’t sign up, you pay a fine. Why this is considered a big deal – 4 million Obamacare enrollees – is a function of politics, not reality.

The Hill:

Approximately 4 million people have purchased insurance through the ObamaCare exchanges, President Obama told volunteers at an Organizing for Action summit in Washington on Tuesday.

“We now have more than 4 million Americans who have signed up for quality, affordably health insurance,” Obama said. “Four million. That’s on top of the 3 million young people who have been able to get covered staying on their parents plan… you’ve already made sure people all across America are getting better coverage.”

The announcement, which came with just five weeks left in the early enrollment period, means some 700,000 have enrolled in ObamaCare so far in February. Earlier this month, the Obama administration said just under 3.3 million people had selected coverage through the end of January.

But the number of people who have actually purchased coverage is likely significantly lower. Analysts estimate that as many as 20 percent of enrollees haven’t paid their first month’s premium, meaning roughly 800,000 of that 4 million do not actually have insurance coverage.

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