The main reason some state-level health insurance exchanges have failed is that they became victims of adverse selection, according to a new Commonwealth Fund report. "In effect, these exchanges attempted to offer better coverage, or more affordable coverage, to too many individuals or groups with unfavorable risk profiles and were unable to attract enough healthy enrollees," said Timothy Stoltzfus Jost, J.D., a professor at the Washington and Lee University School of Law. FierceHealthPayer