The Obama Administration’s own June 17, 2010 estimates predicted that nearly 80 million Americans would lose their health insurance plans under Obamacare once the employer mandate’s effects kick in, reports senior Fox News reporter Jim Angle.

A new report by the American Enterprise Institute reveals that the nearly five million individual market cancellations Americans have witnessed thus far are merely the beginning of a coming tsunami of insurance cancellations. Indeed, the report finds that by the Obama Administration’s own figures, half to two-thirds of small businesses will cancel employer plans and begin herding workers into the Obamacare exchanges.

Stan Veuger of the American Enterprise Institute says “at least half the people on employer plans would by 2014 start losing plans as well.”

Asked when the wave of looming cancellations can be expected to hit, Veuger said, “They’re going to start doing that in the summer or early fall but certainly before the midterm elections.”