UnitedHealth Group warned it may stop offering Obamacare coverage to individuals due to the program's failures, which could usher in a "single payer" healthcare system even worse than Obamacare.

The nation's largest health insurance provider said it lost money due to Obamacare's disappointing enrollment and unintended consequences.

"The insurer's withdrawal from the Obamacare exchanges would force nearly 550,000 Americans to find coverage from another provider," USA Today reported. "UnitedHealth downgraded its earnings forecast, bemoaning low growth projections for Obamacare enrollment and blaming the federal health care law for giving individuals too much flexibility to change plans."

"People who purchase insurance through the public exchanges are typically heavy users of their plans, draining insurers' profits, analysts say."

Although Obamacare's implosion offers a glimmer of hope to the millions of Americans who lost their coverage due to the health law, the political elite will likely try to "fix" Obamacare by offering an even-worse "single payer" healthcare program ran almost entirely by the government.