A U.S. crackdown on fraud in Obamacare plans has removed 760,000 enrollees and placed another 400,000 under review, adding pressure to a marketplace already shrinking after enhanced COVID-19 subsidies expired. The Affordable Care Act created income-based, government-subsidized coverage for individuals, with 19 million people currently enrolled. Policy experts and investors say removing healthy, low-cost members could leave insurers such as UnitedHealth and Centene with a sicker membership mix, squeezing profits in the remaining months of 2026 and in 2027. The Centers for Medicare and Medicaid Services said cancellations targeted people enrolled through brokers who lacked key identification information, including a U.S. Social Security number, while legitimate members can be reinstated after verifying their identities. Health insurance shares declined after the announcement, and insurers had already requested a median 15% premium increase for 2027. Brokers account for 75% of marketplace enrollment, raising concerns that the crackdown could also damage consumer trust and discourage enrollment. Analysts and investors said insurers with broader businesses outside Obamacare may be better positioned, while insurers could set even higher prices for 2028 to reflect membership losses.