This Could Finally Mean the END of Obamacare…
You might think you’ve been hit hard as a health care consumer, but you should be much more worried about the Obamacare challenges your insurer is facing.
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.”
According to The Analytical Economist health care costs have already risen about $5,000 (per family, on average) under Obama. By contrast, Obama promised that his healthcare plan would’ve saved the average family $2,500. So he was only off by a margin of 300%.
A poll conducted by National Public Radio (NPR) in February found that for every Obamacare success story, there are nearly two failures.
The Blue Cross Blue Shield Association released a widely publicized report last month that said new enrollees under ObamaCare had 22 percent higher medical costs than people who received coverage from employers.
“We continue to have serious concerns about the sustainability of the public exchanges,” ~ Mark Bertolini, the CEO of Aetna
The Aetna CEO noted concerns about the “risk pool,” which refers to the balance of healthy and sick enrollees in a plan. The makeup of the ObamaCare risk pools has been sicker and costlier than insurers hoped.
Already one of America’s top insurers, hamstrung by losses, pulls out of state exchanges as predicted:
The biggest insurer in the nation has exited the Obamacare exchanges in Arkansas and Georgia, as insurers struggle financially in the exchanges. UnitedHealth will leave the two states and not sell plans in Arkansas and Georgia. The move comes as UnitedHealth has detailed more than $400 million in losses in the Obamacare exchanges and threatened to leave the exchanges altogether…UnitedHealth did not immediately return a request for comment. The insurer has previously said that it may have to leave the entire Obamacare business due to mounting losses.”
Obamacare architect Jonathan Gruber has admitted that the so-called ‘Cadillac tax’ was specifically designed to hit virtually all employer-sponsored plans, despite Democrats’ public assurances. Internal White House figures projected that eventually, 93 million Americans will lose their existing healthcare arrangements under Obamacare. The exact opposite of “If you like your plan, you can keep it.”
The health insurance industry is finally figuring out that government perks aren’t always what they’re made out to be, and we’re all paying the price.
VIDEO: Insurers warn losses from ObamaCare are unsustainable
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VIDEO: Ted Cruz Explains Obamacare “Disaster” To Jimmy Kimmel (@1:12)
sources: thehill.com, The Analytical Economist, Youtube, Wikipedia