About 12.7 million people enrolled in Obamacare for 2016, both renewals and new signups. The numbers are well below earlier rosy predictions and just up last year’s 11.7 million. Virtually all the optimistic projections about Obamacare have failed to play out, hurting health organizations and consumers.

In 2010 the Congressional Budget Office predicted that there would be 21 million enrolled in 2016. The Rand Corporation predicted 27 million. The CBO also underestimated the number of people who would qualify for subsidies by a factor of four. Insurers projected people over age 55 — more expensive to insure on average— would make up 18 percent of enrollees, but it looks like they will constitute 28 percent of 2016 enrollees. Making matters worse, if last year is an indication, around one million of this year’s enrollees won’t submit a payment this year.

As a result, insurers like UnitedHealth and Aetna who had been told they would see a broader, healthier risk pool are now questioning the sustainability of the Obamacare exchanges. Some have already collapsed. The Washington Times reported on Monday that half of Obama’s co-op plans have failed. “This leads to the conclusion that Obamacare exchanges are, in fact, high-risk pools for sick individuals who cannot get coverage elsewhere,” wrote John Graham, senior fellow at the Independent Institute. “The people who are flocking to Obamacare are those making lower incomes, qualifying for subsidies. They are not a properly functioning, broad-based market for health insurance.”

Many who enrolled may have felt they had no choice. Businesses with less than 50 employees aren’t required to offer health insurance, so many are no longer offering private coverage and are telling workers to use Obamacare since it lowers their costs. The Obamacare penalty for not having health insurance in 2016 is $695 and higher per uninsured adult. However, Obamacare’s deductibles are so high — commonly $6,000 for the low cost bronze plan or $2,500 for a more generous plan — the insurance doesn’t seem worth it to many Americans. The premiums also are too high for many. A middle class family of six, ineligible for subsidies, can easily end up paying more than $600/month in premiums.

The CBO predicted that tax subsidies to insurers participating in the exchanges will cost taxpayers $4,308 per subsidized enrollee, but these costs will end up being higher due to the nature of those enrolling.

Despite the glowing reports issued about the 2016 enrollment numbers by the White House, which were echoed in the media, congressional Republicans saw otherwise. They brought a vote to the House floor to consider overturning Obama’s veto of their legislation repealing most of Obamacare, but failed to get the two-thirds majority necessary.  Speaker Paul Ryan (R-Wis.) vowed, “What we’re proving today is if we have a Republican president next year, we will repeal Obamacare.”

The deadline to enroll in Obamacare for 2016 ended January 31. Open enrollment for 2016 coverage lasted only from Nov. 1, 2015 to Jan. 31, 2016, in order to prevent people from waiting to sign up for coverage only after they get sick.