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Exchange patients may cause large insurers to exit

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  • Exchange patients may cause large insurers to exit

    Source: http://money.cnn.com/2016/03/30/news/economy/obamacare-patients-blue-cross-blue-shield/index.html



    Still, the fact that these patients are sicker than expected is putting some insurers in a financial bind. Several have reported big losses and have questioned whether they can afford to remain in the Obamacare market. This group includes UnitedHealth (UNH), the nation's largest insurer, which expects to lose nearly $1 billion on Obamacare in 2015 and 2016 and may not participate in 2017.


    Related: UnitedHealth expects to lose nearly $1 billion on Obamacare


    Some Blue Cross plans have also come under pressure.

    Highmark, the nation's fourth-largest Blue Cross plan with members in Pennsylvania, West Virginia and Delaware, said its Obamacare members are older, have more chronic conditions and consume more health care services than its employer plan members. As a result, the company has lost more than $773 million in its first two years on the exchanges. It called the losses "unsustainable."

    Meanwhile, Blue Cross Blue Shield of North Carolina reported $282 million in Obamacare losses in 2015. To counter this, the company raised its rates an average of 32.5% for 2016. Its CEO, Brad Wilson, has said the insurer may exit the market in 2017.

    © Copyright Original Source

    That's what
    - She

    Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
    - Manya the Holy Szin (The Quintara Marathon)

    I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
    Stephen R. Donaldson

  • #2
    Originally posted by Bill the Cat View Post
    Source: http://money.cnn.com/2016/03/30/news/economy/obamacare-patients-blue-cross-blue-shield/index.html



    Still, the fact that these patients are sicker than expected is putting some insurers in a financial bind. Several have reported big losses and have questioned whether they can afford to remain in the Obamacare market. This group includes UnitedHealth (UNH), the nation's largest insurer, which expects to lose nearly $1 billion on Obamacare in 2015 and 2016 and may not participate in 2017.


    Related: UnitedHealth expects to lose nearly $1 billion on Obamacare


    Some Blue Cross plans have also come under pressure.

    Highmark, the nation's fourth-largest Blue Cross plan with members in Pennsylvania, West Virginia and Delaware, said its Obamacare members are older, have more chronic conditions and consume more health care services than its employer plan members. As a result, the company has lost more than $773 million in its first two years on the exchanges. It called the losses "unsustainable."

    Meanwhile, Blue Cross Blue Shield of North Carolina reported $282 million in Obamacare losses in 2015. To counter this, the company raised its rates an average of 32.5% for 2016. Its CEO, Brad Wilson, has said the insurer may exit the market in 2017.

    © Copyright Original Source

    Good to see that everything is going well!
    Atheism is the cult of death, the death of hope. The universe is doomed, you are doomed, the only thing that remains is to await your execution...

    https://www.youtube.com/watch?v=Jbnueb2OI4o&t=3s

    Comment


    • #3
      Originally posted by seer View Post
      Good to see that everything is going well!
      Obamacare is working exactly as intended. It was always Obama's plan to bankrupt the health insurance industry in order to pave the way for government controlled insurance.
      Some may call me foolish, and some may call me odd
      But I'd rather be a fool in the eyes of man
      Than a fool in the eyes of God


      From "Fools Gold" by Petra

      Comment


      • #4
        Now I can understand why it was worth doing. It seemed necessarily destined for failure.
        Near the Peoples' Republic of Davis, south of the State of Jefferson (Suspended between Left and Right)

        Comment


        • #5
          If you wanna make a omelet

          You gotta break some eggs
          To say that crony capitalism is not true/free market capitalism, is like saying a grand slam is not true baseball, or like saying scoring a touchdown is not true American football ...Stefan Mykhaylo D

          Comment


          • #6
            I work for an I.T. contractor on one of the Major Medical Insurers. I do not want to say their name for fear of reprisal...but Since Obamacare has started, they have cut costs, in all kinds of ways, first of all by forcing out company to take less money in the contract renewal with our company, they shut down one of our wings, did not renew the contract with the company that was doing our Training, and oh yeah, they raised my Health insurance premiums by 33.6%. They continually force work back on us for no extra money as they cut staff that was once doing it. I really wonder how much longer the job will last TBH...
            "What has the Church gained if it is popular, but there is no conviction, no repentance, no power?" - A.W. Tozer

            "... there are two parties in Washington, the stupid party and the evil party, who occasionally get together and do something both stupid and evil, and this is called bipartisanship." - Everett Dirksen

            Comment


            • #7
              Originally posted by Adam View Post
              Now I can understand why it was worth doing. It seemed necessarily destined for failure.
              Worth doing? Do you think putting the government in charge of your healthcare is a good thing? Government controlled healthcare has been a disaster for countries like Canada and England. By any objective measure, the US healthcare system is (or at least used to be before Obamacare) superior in terms of costs, access, treatment, and outcomes.

              Source: FOX News

              From the facts, Americans enjoy unrivalled access to health care— whether defined by access to screening; wait-times for diagnosis, treatment, or specialists; timeliness of surgery; or availability of technology and drugs. And, gradually, Europeans are circumventing their systems. Half a million Swedes now use private insurance, up from 100,000 a decade ago. Almost two-thirds of Brits earning more than $78,700 have done the same. But what might really surprise those who assert the excellence of nationalized insurance systems is that throughout Europe, from Britain to Denmark to Sweden, when faced with their inability to deliver timely access, the government’s solution is increasingly to enable access to private health care.

              http://www.foxnews.com/opinion/2012/...n-america.html

              © Copyright Original Source


              Source: HealthcareAdministration.com

              There is one large negative to the UK system – it received relatively low marks for its responsiveness. The U.S. health care system ranks number one on responsiveness in the same WHO survey. While the financially unconstrained U.S. system is quite responsive to its citizens “needs” and “wants”, the financially constrained U.K. system is much less responsive. In the UK system, tight control of funding and health resources have resulted in the intangible “wants” being constrained resulting in waiting lists for non-essential medical care and low marks from WHO for responsiveness (Bolnick, 2002).

              http://www.healthcareadministration....thcare-system/

              © Copyright Original Source


              Coming soon a medical clinic near you! Or sometimes not so near, depending on your network.
              Some may call me foolish, and some may call me odd
              But I'd rather be a fool in the eyes of man
              Than a fool in the eyes of God


              From "Fools Gold" by Petra

              Comment


              • #8
                Can't be worse that the pharmaceutically financed medical schools that miseducate our current crop of physicians. You're a right-winter, you get all the same Alternative Medicine stuff in your mail box that I do, so wise up.
                Near the Peoples' Republic of Davis, south of the State of Jefferson (Suspended between Left and Right)

                Comment


                • #9
                  Originally posted by Adam View Post
                  Can't be worse that the pharmaceutically financed medical schools that miseducate our current crop of physicians. You're a right-winter, you get all the same Alternative Medicine stuff in your mail box that I do, so wise up.
                  Right winter?
                  That's what
                  - She

                  Without a clear-cut definition of sin, morality becomes a mere argument over the best way to train animals
                  - Manya the Holy Szin (The Quintara Marathon)

                  I may not be as old as dirt, but me and dirt are starting to have an awful lot in common
                  Stephen R. Donaldson

                  Comment


                  • #10
                    Originally posted by Adam View Post
                    Can't be worse thaN the pharmaceutically financed medical schools that miseducate our current crop of physicians. You're a right-winGer, you get all the same Alternative Medicine stuff in your mail box that I do, so wise up.
                    Sorry, please see two corrections. I went Metacrok for a moment. I don't say Allopathic medicine is all a crock, but in the U. S. it's totally corrupt with it Cancer Industry, statin drugs etc.
                    Last edited by Adam; 04-04-2016, 10:30 AM.
                    Near the Peoples' Republic of Davis, south of the State of Jefferson (Suspended between Left and Right)

                    Comment

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