Even Obama will want to DUMP Obamacare after he hears this… it’s UGLY

[Revmitchell]

We need to repeal and replace Obamacare — not to strip the president of his administration’s signature achievement, but to save the public from his greatest failure.

UnitedHealth (America’s largest insurer) has expressed regret at entering the Obamacare exchanges, and plans to pull out completely this year. Their lossesdue to Obamacare top $1 billion.

That’s just one private insurer participating in Obamacare’s exchanges — and it’s doing well compared to the public co-ops the law has spawned.

http://www.allenbwest.com/2016/02/e...-dump-obamacare-after-he-hears-this-its-ugly/

 

[carpro]

Obama will be pleased to hear it. He never wanted insurance companies involved in the first place. He has changed the law illegally ,but with impunity , in his office many times. Why would anyone think he wouldn't just create a single payer system in his office? Congress won't stop him.


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[InTheLight]

You can thank Marco Rubio for this. Of all the things the GOP has tried to defund, repeal, or otherwise get rid of ObamaCare, Rubio's amendment on risk corridors has been the most effective.

Rubio’s bill is far more sweeping than that—it eliminates risk corridors altogether by striking Section 1342 from the law. This is a clue that his real motivation isn’t to eliminate the possibility of a payout but to eliminate the Affordable Care Act altogether.

“The insurers who signed up for the exchange did so with the understanding that their risk was limited,” says Professor Timothy Jost, a health-care expert at the Washington and Lee University School of Law. “So repealing those risk corridors is basically breaking a contract with the insurers that if they would come into this program, there’d be some limit to their risk exposure.”

Eliminating risk corridors could set off a chain reaction that undermines the law. Some insurers would drop out or decline to participate in the exchanges. Others would run into solvency issues or start charging a risk premium. The actuaries who set rates would jack up premiums for 2015. This could lead to the death spiral of rising costs and declining participation that the law’s supporters worry about. “Basically, it’s a way of killing the exchanges,” says Jost.

http://www.bloomberg.com/bw/article...vious-new-plan-to-kill-obamacare#r=nav-r-blog


The risk corridors program was designed to be a temporary stopgap against high insurance claims during the first three years of the new federal program.

If an insurer had more expenses than it planned, the federal government would cover the remaining balance using cash collected from companies that paid out fewer claims than expected.

The program was almost certain to need extra money in the first few years, when there were fewer healthier customers signing up. But Rubio’s provision in 2014 severely limited any new spending by requiring the program to become budget neutral.

The damaging effects of the budget-neutral requirement became clear in October.

The Obama administration disclosed it could only afford to pay 13 cents of every dollar owed to the insurance companies — after insurers had already locked in their rates for the upcoming year.

Within weeks, about a dozen start-up insurers known as CO-OPs announced they’d be shutting their doors, in most cases because they lacked the cash flow to stay solvent. And at least two other insurers — WinHealth Partners in Wyoming and Moda Health in Washington — pulled out of the exchanges.

http://hotair.com/archives/2015/11/25/did-rubio-deal-a-mortal-blow-to-obamacare/

 

[carpro]

You can thank Marco Rubio for this. Of all the things the GOP has tried to defund, repeal, or otherwise get rid of ObamaCare, Rubio's amendment on risk corridors has been the most effective.

So Rubio actually has done something good for the country. I'm impressed.