Insurers warn losses from ObamaCare are unsustainable

Discussion in 'News / Current Events' started by Revmitchell, Apr 15, 2016.

  1. Revmitchell

    Revmitchell
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    Health insurance companies are amplifying their warnings about the financial sustainability of the ObamaCare marketplaces as they seek approval for premium increases next year.

    Insurers say they are losing money on their ObamaCare plans at a rapid rate, and some have begun to talk about dropping out of the marketplaces altogether.



    “Something has to give,” said Larry Levitt, an expert on the health law at the Kaiser Family Foundation. “Either insurers will drop out or insurers will raise premiums.”
    While analysts expect the market to stabilize once premiums rise and more young, healthy people sign up, some observers have not ruled out the possibility of a collapse of the market, known in insurance parlance as a “death spiral.”

    In the short term, there is a growing likelihood that insurers will push for substantial premium increases, creating a political problem for Democrats in an election year.

    Insurers have been pounding the drum about problems with ObamaCare pricing.

    http://thehill.com/policy/healthcar...macare-are-unsustainable#.VxDdwEW6KW4.twitter
     
  2. Baptist Believer

    Baptist Believer
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    I found it interesting that when I cancelled my Obamacare policy (a top policy with UnitedHealthcare) earlier this month that they were delighted to cancel my policy, even waiving the waiting period and the premiums for the first few days of the month.

    They didn't want me to have the policy and I was glad to give it up for a high-quality policy through my new firm. It was terrible insurance and overpriced. I selected the policy because it was the only policy of all 63 available to me that had one of my doctors - my primary care physician. No other policy had ANY of my doctors. And when I had to make a trip to the emergency room at the beginning of March for a kidney stone, I asked the doctor not to run up the bill. We skipped almost all of the diagnostic tests since I knew what kidney stones are like and he gave me some painkillers to make it through passing the stone. That still cost me a fortune under the insurance.

    Obamacare insurance is not bad insurance, unless you need to use it.
     
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  3. Revmitchell

    Revmitchell
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    A very good alternative is Medishare. I can get coverage for my entire family for less than 600 a month with a 1200 deductible. You can assign your monthly share to a specific person or family in need and you go on a prayer list when you use it.
     

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