‘It’s Working:’ New Analysis Shows Insurers Losing Tens of Millions Annually on Obamacare
Guy Benson Guy Benson
TownHall.com
Jul 19, 2016
It’s not just United Health, Blue Cross/Blue Shield and boutique commercial insurers initially praised by the president as a model for his massive healthcare experiment. The trend of health insurance providers losing money on Obamacare’s disproportionately older and sicker (and therefore more expensive to cover) enrollees is a nationwide problem that’s driving companies out of the individual market and forcing rates upward. Fewer choices, higher costs, and disappointing enrollment statistics. Via John Sexton, here’s a Politico report on the ‘Affordable’ Care Act’s unstable, unsustainable status quo:
For the insurance companies doing business in the state–the ones issuing policies to those 600,000 people–Obamacare has turned into a financial sinkhole. UnitedHealth Group, the nation’s largest insurance company, is pulling out of the Obamacare business in North Carolina next year. Blue Cross Blue Shield of North Carolina, which dominated the individual market with more than a half-million customers, reported that losses on its Obamacare business in 2014 and 2015 topped $400 million. The insurer said that figure includes government payments designed to shield insurers from big losses during the early years of Obamacare. The only other current competitor, Aetna, wants to hike rates by nearly 25 percent next year…
The Rest…HERE
