Tag: obamacare

Finding out what’s in it: More than a million people are losing their health insurance plans this year as insurers increasingly flee Obamacare.

The number above was determined by

At least 1.4 million people in 32 states will lose the Obamacare plan they have now, according to state officials contacted by Bloomberg. That’s largely caused by Aetna Inc., UnitedHealth Group Inc. and some state or regional insurers quitting the law’s markets for individual coverage.

…Nationwide estimates of the number of people losing their current plans are higher. For example, Charles Gaba, who tracks the law at ACASignups.net, estimates that 2 million to 2.5 million people in the U.S. will lose their current plans, compared with 2 million a year ago. Gaba’s estimate is based on insurance company membership data.

For the people losing plans, there are fewer and fewer choices. One estimate by the Kaiser Family Foundation predicts that for at least 19 percent of the people in Obamacare’s individual market next year there will be only one insurer to choose from.

Obviously, the solution is to ask the people that wrote this bad law to fix it. We should all vote Democratic on election day, and help make this disaster even worse!

Finding out what’s in it: Realizing that the next open enrollment period under Obamacare will begin only a week before the election and will present voters with skyrocketing insurance premiums, higher deductables, and fewer choices, Obama met with health insurance execs on Monday to plead for their support.

The two largest insurance carriers, Aetna and UnitedHealth, did not attend, Both have already abandoned most of the Obamacare marketplaces.

The article has a lot of blather about the public relations steps the Obama administration is taking to shore up Obamacare, along with encouraging quotes from some insurance executives. This quote from the article, however, touches on reality, a reality that it appears Obama might finally be discovering. Or to paraphrase Nancy Pelosi’s words, he is finally finding out what’s in it.

But six years after passage of Obama’s signature domestic achievement, the litany of woes afflicting the Obamacare marketplaces is formidable. Enrollment has plateaued at half of what was projected. Three major insurers have largely quit, citing big losses. Double-digit rate hikes are the norm for plans across the country. And roughly one in five Americans may find just one insurer selling plans in their area when they shop for 2017 coverage.

Finding out what’s in it: A new GAO investigation has found that, like its previous reports in 2014 and 2015, it is remarkably easy for fictitious applicants to get approved for both Obamacare and the large subsidizes that go with it.

Our undercover testing for the 2016 coverage year found that the eligibility determination and enrollment processes of the federal and state marketplaces we reviewed remain vulnerable to fraud, as we previously reported for the 2014 and 2015 coverage years. For each of our 15 fictitious applications, the marketplaces approved coverage, including for 6 fictitious applicants who had previously obtained subsidized coverage but did not file the required federal income-tax returns. Although IRS provides information to marketplaces on whether health-care applicants have filed required returns, the federal Marketplace and our selected state marketplace allowed applicants to instead attest that they had filed returns, saying the IRS information was not sufficiently current. The marketplaces we reviewed also relaxed documentation standards or extended deadlines for filing required documentation. After initial approval, all but one of our fictitious enrollees maintained subsidized coverage, even though we sent fictitious documents, or no documents, to resolve application inconsistencies. [emphasis in original]

This report is actually less a condemnation of Obamacare and more a condemnation of the completely incompetent and failed state of the entire federal bureaucracy. They can’t get this job right, but in truth, they pretty much can’t get any job right.

Obviously, we should therefore do what the Democrats propose and give the federal government and its bureaucracy more power and responsibility. That will surely fix things!

Finding out what’s in it: New Jersey’s Obamacare co-op has been taken over by the state and will fold in 2017.

As noted at the link, “that leaves just six of the original 23 Obamacare co-ops in operation next year.”

In other words, Obamacare is steadily going bankrupt, and in the process it is bankrupting the health insurance business. Before the law, it was possible for individuals to buy at a somewhat reasonable price a catastrophic insurance plan that would cover you in case of disaster but required you to pay for most of your routine health care costs. Obamacare outlawed those plans (obviously, someone was lying when he said you could keep your plan if you liked it). The result however is that everyone is forced to buy at very unreasonable prices the equivalent of those same plans, since both premiums and deductibles have risen so much that everyone now has to pay for routine health care costs.

Obviously, this means we should all vote for Hillary Clinton and the Democrats, because they more than anyone else know how to solve the problem they created. Obviously, voting for the Republicans, who predicted this disaster in great detail and with remarkable accuracy, would be a mistake, a clear demonstration of racism or something. And we wouldn’t want to be called racist by Democrats, would we?

Finding out what’s in it: A new poll shows that the number of people directly hurt by Obamacare has continued to rise.

Currently, 29% of Americans say Obamacare has hurt them and their family, up from 26% in May, and the highest Gallup has measured to date. Meanwhile, the percentage who say the ACA has helped their family dropped from 22% to 18%. The bulk of Americans, 51%, continue to say the law has “had no effect.” As more provisions of the law have taken effect over the years, the “no effect” percentage has dropped from the first reading of 70%, in early 2012.

Not surprisingly, support for Obamacare, always low, has shrunk as well. As the article at the link notes,

Wait until the next round of open enrollment starts in eight weeks. The number of people who feel the ObamaCare pain is likely to rise even further, especially in places like Tennessee, Minnesota, and other states where premiums will go up 40% or more over 2016.

The fact that in many regions there will be only one or fewer insurance options will help to underline why people increasingly hate Obamacare. Sadly, every one of these failures was predicted by conservatives back in 2010. The Democrats however were too wise and caring to listen. For them, caring is all that matters, even if it means instituting policies that destroy people’s lives.

Finding out what’s in it: Faced with closure of all of its Obamacare health insurance options, officials in Tennessee have been forced to approve rate increases ranging from 44 to 62 percent.

The rate approvals, while a tough decision, were necessary to ensure that consumers around the state had options when open enrollment begins in November, said Julie Mix McPeak, commissioner of the Tennessee Department of Commerce and Insurance. BlueCross BlueShield of Tennessee is the only insurer to sell statewide and there was the possibility that Cigna and Humana would reduce their footprints or leave the market altogether.

“I would characterize the exchange market in Tennessee as very near collapse … and that all of our efforts are really focused on making sure we have as many writers in the areas as possible, knowing that might be one. I’m doing everything I can to prevent a situation where that turns to zero,” McPeak said to The Tennessean. [emphasis mine]

Anyone with any brains (such as the conservatives who predicted in 2010 that this would happen) can see that with these ungodly increases, it is very unlikely that those same insurance options will survive through next year. Be prepared for the complete collapse of the health insurance industry.

Finding out what’s in it: One of the countries largest health insurance companies, Aetna, announced on Monday that it will stop offering health insurance through Obamacare.

Under Obamacare, Aetna lost $200 million in the second quarter of 2016 alone. Too bad no one predicted this…except for every evil racist homophobic tea party and thoughtful conservative whom the Democrats and Obama preferred slandering instead of listening to what they had to say.

Good thing we are going to vote for those Democrats again. Using their brilliant understanding of economics they will be sure the fix the problem they created!

Finding out what’s in it: The fourteenth of the original twenty-three Obamacare state health insurance co-ops has announced it is closing shop.

I like this quote from the article:

Grace-Marie Turner, president of the Galen Institute, which advocates for free-market solutions in the health industry, said those who wanted the co-ops to be part of Obamacare believed “if they didn’t have a profit, they could charge less money, provide more service.” But she said the cascade of failures “is an indictment of the idealistic notion that you could put people in charge of billions of dollars who have little or no experience in the insurance industry.”

Across the country, the federal government loaned $2.4 billion to launch the co-ops [emphasis mine]

In other words, Obamacare was written and run by people didn’t have the slightest idea what they were doing, but they not only went ahead with it, but then handed out billions in taxpayer money to their friends, money that will never be returned. Pretty good gig, if you can get it!

Finding out what’s in it: Within three months of signing up for Obamacare more than 13%, or 1.6 million people, in 2016 have dropped coverage by not paying their premiums.

The AP story at the link is decidedly partisan in its tone, trying to make excuses for the disaster that is Obamacare. After proudly claiming that “the health law’s online insurance markets are now working smoothly,” it than is forced to note the following:

Enrollment has been lower than hoped for, and customers turned out to be sicker than expected. Some major insurance companies have cut back their participation, and 13 of 23 nonprofit insurance co-ops created under the law have folded. Premiums for 2017 are expected to be significantly higher.

Other than these minor details, Obamacare is wonderful! That’s why more than 1 in 10 quit paying their premiums within three months, probably because they simply can’t afford it. I wonder how many more decide to give up their health insurance as the year progresses. I suspect that by the time the open enrollment period arrives in November, the number who have dropped coverage will rise above 30% or higher.

Let me add one more thing: I also suspect that many of the people who drop Obamacare do so as soon as they’ve paid their taxes. This way, they pay the premium for as little time as possible, can demonstrate to the IRS that they have insurance and thus avoid the Obamacare mandate fine (or tax, depending the day you ask the Obama administration what it is), and then avoid paying the premium for the rest of the year. It’s called gaming the system, something that happens routinely when governments try to impose unwieldy and unaffordable rules to ordinary life.

Finding out what’s in it: Because of Obamacare, Blue Cross Blue Shield is losing money in states across the nation, forcing them to request rate increases of more than 50 to 65 percent.

If the federal government does approve these rate increases, expect most oif their customer base to vanish. If they don’t get these rate increases, expect them to abandon the market in those states.

So much for Obama’s promise that Obamacare would bend the cost curve downward, cutting rates by $2500 per family. Too bad no one told him his numbers were completely bogus and that Obamacare would increase everyone’s cost, and possibly destroy the health insurance industry. Oh wait… that was what those evil tea partiers and conservatives were saying.

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?