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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
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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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