Obamacare's November Surprise

[Purveyor]

Many consumers will see large rate increases for the first time Nov. 1 — a week before they go to the polls.

By Paul Demko
05/02/16 05:22 AM EDT

The last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare.

But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing by raising rates.

Just a week after the nation’s largest insurer, UnitedHealth Group, pulled out of most Obamacare exchanges because it anticipates $650 million in losses this year, Aetna’s CEO said Thursday that his company expects to break even, but legislative fixes are needed to make the marketplace sustainable.

“I think a lot of insurance carriers expected red ink, but they didn’t expect this much red ink,” said Greg Scott, who oversees Deloitte’s health plans practice. "A number of carriers need double-digit increases.”

In some ways, the turmoil is not surprising: Under the health care law, plans are unable to choose who to insure, or how much to charge them based on their medical history. As a result, many plans enrolled a larger proportion of sicker people than they bargained for. But some of those losses were also a function of political wrangling after Republican lawmakers blocked payments that were supposed to help insurers get through the difficult first years.


Read more: http://www.politico.com/story/2016/04/obamacare-rate-hikes-a-looming-political-headache-for-democrats-222663#ixzz47XSvLqCc
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[SammyWinstonJack]

1. KnR

[flamingdem]

2. This story is being pushed and it's BS

for the most part. ACA is very successful and millions have been helped. Of course the insurance companies spend millions trying to scare people and get higher rates, screw them, no way are they believable.

In my case I got a slight reduction in 2016 in an expensive area and on the best available plan. Thanks to Obama!

[central scrutinizer]

3. Insurance companies are unnecessary middlemen

They do nothing but push papers and get in the way. They're not making a profit? Fuck them. Single payer now!

[Ron Obvious]

4. We've already had big increases...

We're now paying $825 a month for a shitty bronze plan (up from $675 last year) and I was able to deduct over $25,000 in medical expenses on my tax return last month.

This isn't sustainable.

[Motown_Johnny]

5. You do know they are lying? Right?

Yes, that is what they have said. It is pretty much all bull shit. Large insurance companies are doing fine. They will claim they aren't, but it isn't true.



http://www.unitedhealthgroup.com/newsroom/articles/feed/unitedhealth%20group/2016/0419firstquarterresults.aspx

^snip^

UnitedHealth Group Reports First Quarter Results

First Quarter Revenues of $44.5 Billion Grew 25% Year-Over-Year

UnitedHealthcare Added 2 Million More People Domestically in the Past 12 Months, Including 1.3 Million More People in the First Quarter

Optum Revenues of $19.7 Billion Grew 54% Year-Over-Year

Cash Flows from Operations were $2.3 Billion in the Quarter

First Quarter Adjusted Net Earnings of $1.81 Per Share Grew 17% Year-Over-Year

[zeemike]

16. And that return to share holders provides no health care to anyone

Just wealthcare for the wealthy.

They have installed a tit on the health system and they will suck that cow dry.

Medicare for all is the answer.

[moonbabygo]

6. Can insurance companies pull out?

I thought it was mandatory that they participate. If that is not true what would we do if they all pulled out?

[babylonsister]

7. Yes.

http://money.cnn.com/2016/04/19/investing/unitedhealthcare-obamacare-exchanges-aca/index.html

UnitedHealthcare to exit most Obamacare exchanges

[moonbabygo]

8. oh dear

I don't mean to sound selfish, but my son is alive today because of Obama Care. He has cancer and if these insurance companies pull out are they just going to leave him to die?

[babylonsister]

11. That is not selfish. The

insurance companies are being greedy/selfish. Guess it worked to the extent that this insurance company wasn't making enough. This is also why we need universal healthcare and insurance companies will fight tooth and nail to see we don't get that.

I'm sorry about your son.

[nadinbrzezinski]

9. I know folks who cannot afford Bronze Plans at this point

[Skink]

10. My Bronze plan is 290

240 is the subsidized amount I recieve. I don't get it. Why are people paying so much. Sure I have a high deductable but I don't see any upcoming surgeries.

[PasadenaTrudy]

19. How old are you

and where do you live?

[Skink]

20. Texas. 40s

[Hydra]

12. I dodged a bullet like this last year

My rate was going to double, but my insurer got pushed out of the pool and and new one came in that I can afford.

I live in mortal terror of what will happen next year- starve under coverage or pay the fine if I don't get lucky again?

[George II]

13. This is simply not true.

[pnwmom]

14. UnitedHealth is a TINY part of the ACA, so its withdrawal will make little difference. n/t

[ScreamingMeemie]

15. UnitedHealthcare is one of two companies available in my area of Texas with doctors

within a 50 mile drive. I have UnitedHealthcare, and so far they haven't touched Texas, BUT BCBS just kicked the Med Center out of network. It's not perfect, I'm glad we have, but its withdrawal will make a difference to many people.

By the way as a side note, UnitedHealthcare's coverage is better and at a cheaper cost to me than my original ACA Humana plan was.

[pnwmom]

17. I hope it doesn't affect you!

Good luck!

[Skittles]

18. gee, who could have not seen this coming?

besides a lot of REALLY NAIVE DUers