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Insurers Still Committed To Obamacare Following White House Meeting (Stupid is as stupid does)
forbes ^ | 11/16/2013 | Bruce Japsen

Posted on 11/16/2013 11:11:33 AM PST by tobyhill

In an unusual alliance between a liberal Democratic President and the traditionally Republican-leaning insurance industry, health plans are still backing the Affordable Care Act and the nation’s commander-in-chief following a White House meeting Friday.

Despite the political rhetoric coming out of Washington and pundits on television talking about lower popularity numbers for President Obama and continued efforts of Republicans to derail the legislation, the insurance industry believes the health law can be fixed, according to several sources close to the companies. They are most concerned about the healthcare.gov web site than the backlash about some Americans and Republicans being upset that policies that did not comply with new law are being cancelled.

Several major health insurance companies, led by their lobbyist Karen Ignagni, chief executive officer of America’s Health Insurance plans, met Friday with President Obama a day after he said health insurance companies can for another year renew policies that were set to be cancelled because they didn’t provide adequate coverage under his signature health law.

That move by Obama didn’t sit well with the powerful insurance lobby that has banked on both sick and healthy people signing up for coverage so they can generate revenue from premiums and have money to pay claims and turn a profit for their shareholders or policyholders.

(Excerpt) Read more at forbes.com ...


TOPICS: Business/Economy; Extended News; News/Current Events; Politics/Elections
KEYWORDS: lawlessnation; obama; obamacare; obamalies

1 posted on 11/16/2013 11:11:33 AM PST by tobyhill
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To: tobyhill

The “Insurance Industry” was right in there designing the cattle chutes and the killing floor drain system with the rest of the ObamaCare crazies.


2 posted on 11/16/2013 11:14:54 AM PST by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: Steely Tom

Maybe the insurance industry would rather have single payer?


3 posted on 11/16/2013 11:18:25 AM PST by ex-snook (God is Love)
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To: tobyhill

I can’t understand why they would be for premiums to increase 400%!!!!! /s


4 posted on 11/16/2013 11:20:22 AM PST by NCDave (AKA, "That idiot over there")
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To: tobyhill

No doubt the insurance companies are somewhat complicit in the Obamacare fiasco, but we shouldn’t forget what the Federal Government is to a health insurance company. It is often one of their biggest customers through plans such as Medicare part D, and it is also their regulator. CMS has the power to destroy any health insurance company involved in any Federal program, and there are countless other Federal regulating bodies that have God-like powers over these companies.

If you were running a business how eager would you be to tell one of your biggest customers and your regulator to f**k off?


5 posted on 11/16/2013 11:20:26 AM PST by Junk Silver
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To: ex-snook
Maybe the insurance industry would rather have single payer?

As long as they keep their jobs administering it, hellyaa.

6 posted on 11/16/2013 11:20:39 AM PST by Steely Tom (If the Constitution can be a living document, I guess a corporation can be a person.)
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To: ex-snook

Federal Government told the Ins. companies they are still interested in “spreading the wealth around” if they keep playing ball, I’m sure.


7 posted on 11/16/2013 11:23:15 AM PST by corlorde (forWARD of the state)
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To: FReepers
Clueless? No, Dangerous
It's About Power, Money And Crony Capitalism


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8 posted on 11/16/2013 11:34:12 AM PST by DJ MacWoW (The Fed Gov is not one ring to rule them all)
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To: tobyhill

If you ever wondered why the insurance companies didn’t raise a bigger stink over the passage of obamneycare it’s because they helped write the damned thing. If the law isn’t reprealed they become massahs of the plantation and you their slaves. If it collapses, they still get a big fat TARP style bailout.


9 posted on 11/16/2013 11:37:53 AM PST by Sirius Lee (All that is required for evil to advance is for government to do "something")
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To: NCDave
What's funny is, most middle-class can't afford the 400% increase and will just pay the fine. You can't pay what you don't have.
I hope these families don't worry too much about it because they'll find healthcare, even if they have to stiff the hospital. Got to do what you got to do to survive in this New America.
10 posted on 11/16/2013 11:38:46 AM PST by tobyhill
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To: tobyhill

Maybe they are taking the taxpayers money and paying the insurance companies off to gain continued support.


11 posted on 11/16/2013 11:51:08 AM PST by FreedBird
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To: tobyhill

I just have to wonder what the business decision behind this is. Are there promises of less competition down the line for participants? Will one side effect of the act be creating a closed system,make it impossible for new insurers to form and compete?


12 posted on 11/16/2013 11:56:09 AM PST by wiggen (The teacher card. When the racism card just won't work.)
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To: tobyhill

I am opting out andtelling BCBS where they can stick it and going with Medi Share


13 posted on 11/16/2013 11:56:25 AM PST by yldstrk (My heroes have always been cowboys)
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To: tobyhill

Of course they may simply feel coverage of existing conditions is here to stay and they need the bill to maintain profits.


14 posted on 11/16/2013 11:57:26 AM PST by wiggen (The teacher card. When the racism card just won't work.)
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To: ex-snook

I’ve been thinking that the insurance CEOs must have all been placed in position by obama/powers that be, prior to passage of Obamacare. They are all to be personally well taken care of after the demise of the insurance industry. Their multi-million dollar salaries will make sure they don’t feel the pain.

For example, David Cordani, ceo and president of Cigna came to that position in 2009. A global kind of guy:

http://www.cigna.com/about-us/leadership-team/david-cordani


15 posted on 11/16/2013 12:01:32 PM PST by Bluebird Singing
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To: wiggen

make it impossible for new insurers to form and compete?”

Valid point IMO. I have a lot of clients who are doctors and we have seen a lot of mergers. I can’t count the number of insurance carriers that have been absorbed, particularly in the last five years. Used to be hundreds, now we are almost down to choosing between Aetna, Blue Cross, Cigna, Humana, Kaiser and United Healthcare. A few others have different names but they are really connected under an umbrella of one of the biggies.


16 posted on 11/16/2013 12:08:59 PM PST by Grams A (The Sun will rise in the East in the morning and God is still on his throne.)
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To: tobyhill

No doubt they believed the liar when he promised them a government bailout for throwing customers off their plans. They will deserve going belly up when he chases everyone into the government’s single payer plan.


17 posted on 11/16/2013 12:39:09 PM PST by txrefugee
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To: tobyhill

Insurers helped write Obamacare. They stand to make millions from higher premiums and higher deductibles. Obama gravy train for them.


18 posted on 11/16/2013 12:47:32 PM PST by From The Deer Stand
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To: From The Deer Stand

Exactly, they got into bed with the government, they deserve to reap the whirlwind.


19 posted on 11/16/2013 12:49:00 PM PST by dfwgator (Fire Muschamp.)
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To: dfwgator

Folks who are out of the box thinkers would (I’d advise IMHO), do well to start right now to work out what the next health care situation will BE once God burns all this detritus off of American soil through its own folly.

It will be a great time for conservative ideas to supplant the liberal ones. If conservatives can get their eye off of this evil long enough to see God.


20 posted on 11/16/2013 12:51:57 PM PST by HiTech RedNeck (The Lion of Judah will roar again if you give him a big hug and a cheer and mean it. See my page.)
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To: tobyhill

They still trust him. Cute, aren’t they?

We need to start making lists of who these insurance companies are. Apparently they don’t have enough people talking at them.


21 posted on 11/16/2013 12:55:59 PM PST by Cyber Liberty (We're At That Awkward Stage: It's too late to vote them out, too early to shoot the bastards.)
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To: Cyber Liberty
AHIP represents the biggest names in health insurance, including Aetna (AET), Cigna (CI), Humana (HUM) and most Blue Cross and Blue Shield plans. CEOs from all three publicly-traded companies and four firms representing Blue Cross plans were part of the meeting with President Obama and his advisors.
22 posted on 11/16/2013 1:00:20 PM PST by cornelis
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To: Cyber Liberty

They’re hearing the people but they don’t care. They are calculating that the law will force people to go back to them but the problem with their calculation is that people could barely afford the insurance yesterday and they definitely can’t afford them today.
A lot of families will take a chance and go without and if they get sick then they’ll get treatment but just pay it out.


23 posted on 11/16/2013 1:01:39 PM PST by tobyhill
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To: cornelis

Interesting. Aetna has refused to participate in some state exchange pools. Kaiser has as well (I don’t see them on your list).


24 posted on 11/16/2013 1:06:55 PM PST by Cyber Liberty (We're At That Awkward Stage: It's too late to vote them out, too early to shoot the bastards.)
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To: tobyhill
A lot of families will take a chance and go without and if they get sick then they’ll get treatment but just pay it out.

When you have a deductible of $12,000 for your family, there is no point in even having insurance. I wouldn't buy it either.

25 posted on 11/16/2013 1:09:14 PM PST by Cyber Liberty (We're At That Awkward Stage: It's too late to vote them out, too early to shoot the bastards.)
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To: tobyhill
The Insurance Companies are salivating over the fact that everyone has to be insured-it will cost them dearly.
26 posted on 11/16/2013 1:09:16 PM PST by fortheDeclaration (Pr 14:34 Righteousness exalteth a nation:but sin is a reproach to any people)
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To: Cyber Liberty
Yep, most people don't have $12,000 sitting in their back pockets or an extra $500 a month for premiums.
The insurance companies were already on the verge of out-pricing their usefulness and now they have actually done it.
27 posted on 11/16/2013 1:18:03 PM PST by tobyhill
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To: tobyhill

Only game in town.


28 posted on 11/16/2013 1:23:47 PM PST by WriteOn (Truth)
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To: dfwgator

Waiting for my daily Cruz fix, haven’t seen one yet.


29 posted on 11/16/2013 1:24:31 PM PST by txhurl
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To: tobyhill

It’s not like they have anything to gain under Obamacare!


30 posted on 11/16/2013 1:24:34 PM PST by ReaganÜberAlles
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To: tobyhill

It’s ironic when you consider the stated purpose of this entire enterprise was to keep people from being bankrupted by a catastrophic health event.


31 posted on 11/16/2013 1:24:49 PM PST by Cyber Liberty (We're At That Awkward Stage: It's too late to vote them out, too early to shoot the bastards.)
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To: Cyber Liberty
With Obamacare, bankruptcy seems to be the best option. If I ever go bankrupt because of medical bills and a judge ask me why, I'll just let them know because I couldn't afford to comply with the Obamacare law.
32 posted on 11/16/2013 1:34:20 PM PST by tobyhill
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To: tobyhill

Then you know what they’ll be pushing: Disallowing the medical expenses to be discharged in a bankruptcy. It’s what they do with student loans.


33 posted on 11/16/2013 1:40:51 PM PST by Cyber Liberty (We're At That Awkward Stage: It's too late to vote them out, too early to shoot the bastards.)
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To: tobyhill

Instead of hammering Obama’s lies etc. on the talk shows someone should start pointing out the collusion between Obama and the insurance crooks.

Sooner or later it’s going to be the people against these clowns, let’s just make it sooner.


34 posted on 11/16/2013 1:48:47 PM PST by Kenny
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To: wiggen
I just have to wonder what the business decision behind this is. Are there promises of less competition down the line for participants?

In exchange for covering the bad risks, premiums are several times higher. If they lose money, the government will cover them. They figure it's a game of "heads I win, tails you lose".

35 posted on 11/16/2013 1:58:18 PM PST by PapaBear3625 (You don't notice it's a police state until the police come for you.)
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To: PapaBear3625

Clown Prince nobama has demonstrated that he is fine with stealing and blowing tax payers’ money (TARP, various eco-insane projects, money to terrorists and so forth). I expect he has the printing presses running 24-7 in anticipating shoveling bail-out money to his insurance chums. Criminals all.


36 posted on 11/16/2013 2:43:03 PM PST by hal ogen (First Amendment or Reeducation Camp?)
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To: Steely Tom

Yes.


37 posted on 11/16/2013 2:44:40 PM PST by Gene Eric (Don't be a statist!)
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To: tobyhill

38 posted on 11/16/2013 2:57:54 PM PST by yefragetuwrabrumuy (War on Terror news at rantburg.com)
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To: wiggen

down the line obambicare was designed to end the private prepaid health care system. Any one who thinks that we have an insurance system is uninformed. That said while getting in bed with the commie in chief may sound like slitting ones own throat, the spectacular epic fail may have been designed by said insurance companies in order to get back to insurance vs prepaid coverage. Before FDR you would pay for care, prices were transparent. bambicare tried to make the last vestiges of light stamped out, with the resulting spikes in rates since market forces were completely eliminated. The speed of implosion gives me hope that a total reformation to insurance will occur.


39 posted on 11/16/2013 4:00:49 PM PST by waynesa98
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To: tobyhill
Insurers Still Committed To Obamacare Following White House Meeting (Stupid is as stupid does)...for sure - have they not figured out yet that the whole purpose of this fiasco is ultimately to put them all out of business - or maybe they think they can make a quick killing on grossly inflated and eventually unaffordable insurance premiums and then get out of the business just before the deluge hits - it's the sort of thing that worked for Solyndra, after all.....
40 posted on 11/16/2013 9:22:51 PM PST by Intolerant in NJ
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To: tobyhill

No telling the dynamics/threats involved. If they drop out now, Jarret and company will insure they pay out the nose. They have become leeches and have taken advantage of government intrusions to maximize profits by overcharging and then minimizing payments - should be no surprise that they find themselves in a complicit utopia/slavery.


41 posted on 11/17/2013 3:49:26 AM PST by trebb (Where in the the hell has my country gone?)
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