UnitedHealth dropped a bombshell this week when it announced it had lost $425 million on #ACA plans and might exit the Obamacare exchanges next time around. Other insurers signaled they were in distress, too. This follows the demise of 12 ACA co-ops, money-losing ideological miscreants that deserved to die. Other insurers (e.g., Molina) think their exchange book of business can stay profitable, so maybe this is just a shakeout where the strongest and most committed survive. But it’s starting to look increasingly like a shakedown. Some observers expect the health insurance industry and the Obama administration to lobby Congress ferociously for bailouts in the months ahead. Some insurers eat exchange losses because they more than make it up on managed care contracts but, as some are finding, those aren’t always profitable either. Health insurers made a deal with the devil when they sold our freedom down the river and chose to support the passage of Obamacare, but a day of reckoning is coming where they will demand that you the taxpayers save their bacon, if not their soul. #NoBailouts
O-admin quietly promises insurers bailouts for exchange losses after UnitedHealth threatens to exit
UnitedHealth cuts profit forecast; #ACA exchange plan suckers not the goldmine co. expected. #BewareSubsidyRisk
UnitedHealth: people are dropping insurance after running up big bills. #RubeGoldbergRules
Unsustainable: “carriers losing money did so at a rate eight times greater than the carriers making money”
30 not-for-profit Blue Cross and Blue Shield insurers “barely break-even” for the first half of 2015.
Anthem and Cigna also sending distress signals re #ACA exchange business. Big rate increases not enough.
Cheapest silver plan not returning in 89 markets. #NoYouCan’tKeepYourPlan
SHOP small biz exchange viability questioned; ‘never made sense’. #ObamacareIsDoomed
Medicaid expansion blows $47M hole in New Mexico state budget; hole grows to $100M for at least the next 3 years
HCA to settle shareholder suit for $215M; overstated Medicaid revenue prospects. #BewareSubsidyRisk
Insurers thot they could make up exchange losses w/managed care contracts. WellCare to lose $$ on Iowa contract. Insurers–joke’s on you LOL!