Blue Cross Blue Shield pulls out of Obamacare in Minnesota

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Finding out what’s in it: Blue Cross Blue Shield has decided to stop selling health insurance through Obamacare in 2016.

“Based on current medical claim trends, Blue Cross is projecting a total loss of more than $500 million in the individual [health plan] segment over three years,” the insurer said in an emailed statement. The Blues reported a loss of $265 million on insurance operations from individual market plans in 2015. The insurer said claims for medical care far exceeded premium revenue for those plans

Gee, too bad no one said that this law was unworkable and was going to cause big losses in the health insurance industry. Oh wait… Didn’t most tea party and conservatives say that repeatedly? And loudly? And were ignored pointedly by Democrats?

One comment

  • Edward

    I’m pretty sure, Robert, that the Democrats remember quite differently what the Tea Party and conservatives said. I expect the Democrats to blame George Bush, Donald Trump, Sarah Palin, and (of course) the Brexit vote for the Blue Cross Blue Shield losses, other insurers’ rate increases across the country, and other lost companies in other states.

    From the article: “It’s not a death spiral yet but if you squint a bit you can begin to see it from here.”

    No squinting is necessary. It was clear all the way from 2010, if not earlier. Democrats even announced, back then, that Obamacare was the transition to government-controlled, single-payer, socialized medicine. Undoubtedly, our next liberal Democrat president will be the one to make that nightmare — er — dream come true, whether it is the probable Clinton or the unlikely Trump.

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