ObamaCare is on death watch.

On Wednesday, Cigna CEO David Cordani said the giant insurer won’t commit to offering policies on the ObamaCare exchanges beyond next year. This, just two weeks after a similar announcement from the country’s largest insurer, UnitedHealth.

The problem: Exchange policies (written by Democratic politicians and bureaucrats) turn out to be a good deal only if you’re sick. Healthy folks have been opting out — so not enough are paying premiums to make selling the policies profitable.

One gimmick might keep insurers in the game: The law’s “risk corridor” provision allowed Washington to tax profitable exchange plans to prop up unprofitable ones.

But even in Year One, there weren’t enough profits to cover the losses — so Team Obama transferred money from elsewhere.

This subsidy was entirely distinct from the law’s support for lower-income folks: It was a bailout for the companies. Sen. Marco Rubio (R-Fla.) put a stop to that last year, passing an amendment that prevents these back-door bailouts.

Without the extra taxpayer dollars, the administration can only deliver about 13 percent of the bailout cash needed this year. So it can’t save the money-bleeding nonprofit “co-ops” the law set up either. More than half these nonprofits have failed already.

Firms like Cigna will have to either quit the exchanges — or raise premiums. But higher prices will push more customers — especially healthier ones — to the exits.

Which will force more price hikes . . . leading to the total collapse that insiders term a “death spiral.”

Senate Minority Leader Harry Reid wants to insert language into the omnibus spending bill to restore the backdoor bailout.

Congress has to say no.

ObamaCare was a house of cards from the start. There’s no excuse for keeping it alive with secret subsidies. Once this turkey’s true costs are realized, it’s dead — and the country can move on to something better.