Skip to comments.Maryland demands lower insurance rates; Aetna says sayonara to the state’s insurance exchange
Posted on 08/04/2013 12:00:16 PM PDT by Hojczyk
For instance: Maryland would really very much appreciate it if the insurance companies operating in their state could offer rates that the state arbitrarily deems to be affordable and attractive offers, the better to lure potential participants into the states ObamaCare exchanges. Insurance companies, meanwhile, would really like it if they could avoid operating at a loss. Its selfish, really.
Aetna Inc pulled out of Marylands health insurance exchange being created under President Barack Obamas healthcare reform law after the state pressed it to lower its proposed rates by up to 29 percent.
In an August 1 letter sent to the Maryland Department of Insurance, Aetna said the states requirement for rate reductions off its proposed prices would lead it to operate at a loss. The rate reductions include products from Aetna and Coventry Health Care, which it bought this spring.
Unfortunately, we believe the modifications to the rates filed by Aetna and Coventry would not allow us to collect enough premiums to cover the cost of the plans, including the medical network and service expectations of our customers, Aetna said in the letter to insurance commissioner Therese Goldsmith.
According to online documents, Aetna had requested an average monthly premium of $394 a month for one of its plans and the agency had approved an average rate of $281 per month. And it was just the other day that ObamaCares supporters were touting Marylands lower rates as proof of the health care overhauls success.
(Excerpt) Read more at hotair.com ...
I suppose O’Malice will try to double down and tell Aetna that they can’t sell insurance in Maryland. I wonder whether that then provokes such a howl from the private market that the whole cookie crumbles.
I wonder what Blue Cross Blue Shield is doing?
You know what I find annoying? People who excerpt text without signaling that they have done so. It’s as if I’m starting a conversation that’s already half-way over, and must look at a transcript to catch-up.
The state could set a $10 rate if they really cared about the people. While nobody could actually buy insurance at that rate, it would certainly be the lowest rate in the country and something worth bragging about. Oh joy - Liberalism triumphs over those evil insurance companies once again. :=)
If you liked your insurance, up yours.
You have to cover everything and everyone, but lower your price...
right, thats gonna happen
The ‘RATS want Cadillac healthcare at used car prices.
Some democrat idiot was telling me that the state was going to demand that the insurance companies drop their rates. And that it was a great idea.
She was shocked when I told her that they do not need to do business in MD. They can leave. We can’t force anyone or any company to operate at a loss. She was also unaware of the jobs this state already lost many jobs when companies fled after the Rats passed gun control and other tyrannical laws.
And these morons can and do vote.
We were looking at property in Maryland. Retiring to the bay area attracted us. That was until we saw the Democrat led tax hikes, Baltimore financial mess and the crazy rain tax. These Democrats are nuts. I will never consider moving there with such nitwits running the state.
I think you’re being too kind.
They want Cadillac health care at used tricycle prices.
Next step in this slow-motion catastrophe: if you sell insurance in any state, you have to sell it in all of them.
I wonder what would happen if suddenly no one at all sold health insurance? Well, I suppose that the government would have to take that task for itself...which of course is the end-game here.
The inane Democrat logic is that private insurers leaving the state is a good thing, because that means the federal government will have to pick up more of the tab, and Obama and the Democrats are willing to spend America into incontinence for a few more votes.
Thus the Republicans need to make it loud and clear to the blue states that once Obama is gone, they are going to have to pay through the nose to get those insurance companies back.
But if they spring the trap too soon, the 70% who were adequately served prior to Obabmacare are going to be a formidable aroused constituency. There’s a small chance the insurance companies were smart enough to have realized they were being coaxed into the slaughter pens.
And here’s the BIG kicker... articles from Hotair.com do not need to be excerpted.
I don't know but that's what my family has...