Posted on 01/10/2014 11:34:48 PM PST by Cincinatus' Wife
Humana Inc., the nation's fourth-largest health insurer by market share, warned Thursday that the risk pool of applicants for insurance through President Obama's health care law would be worse than previously expected.
Ever since the botched rollout of the health care law's exchanges in October, the policy community has been eager to know more about the mix of individuals signing up for insurance through the law.
Because the law forces insurers to cover those with pre-existing conditions, insurers need to attract a critical mass of young and healthy individuals with lower medical costs into the exchanges to offset the cost. But the Obama administration has yet to release demographic data on those who have picked a plan through the exchanges.
But in a filing with the Securities and Exchange Commission, Humana disclosed to investors, "as a result of the December 2013 federal and state regulatory changes allowing certain individuals to remain in their previously existing off-exchange health plans, the Company now expects the risk mix of members enrolling through the health insurance exchanges to be more adverse than previously expected."
The regulatory change Humana is referring to is the "administrative fix" announced by the Obama administration aimed at allowing individuals to remain enrolled in their current plans, which had been cancelled as a result of requirements imposed by the law. Obama announced the "fix" after a storm of criticism over his broken promise that anybody who liked their plan could keep it. Insurers had been depending on those with cancelled plans (who tend to be healthier) to end up obtaining insurance through exchanges.
Humana said that the company was "evaluating" the financial effects of the changes, but at this time, did not adjust their earnings forecast for 2014.
In the same filing, Humana said cuts to Medicare Advantage payments to private insurers made by the health care law would be steeper than expected, triggering changes to benefits.
"The Company expects to continue its standard process of seeking alternatives to minimize the disruption to Medicare beneficiaries this level of rate decline may cause," the filing read. "Such alternatives include clinical management programs, operating cost efficiencies, benefit changes, market exits and other operating strategies. In the interim, the Company also expects to continue its efforts to educate CMS, the Administration and Congress on the adverse impact such rate pressures have upon Medicare beneficiaries."
A friend had a 6 month checkup after a skin cancer procedure that went well. The hospital is 45 miles away, the weather was frigid and the patient is 88. She called to reschedule and they tried to make her appointment another 3 months out. Since she has a new skin cancer concern she wants checked out, she demanded an earlier appointment. She finally got one for 1 month out.
She sees a huge turnover in Dermatologists at this hospital, as well. A new specialist every appointment.
Here’s where I’m at. Insurance became unaffordable for me about 4 years ago when I was paying $300 a month for myself and my wife. $900 a month is impossible. My mortgage is $1250 wth!. The whole thing is just stupid.
I have done nothing whatever with respect to Obamacare. I guess they will put me in jail eventually.
FUBO
To back up your statement re FDR, below is a political cartoon from the 1930's addressing the socialism that was rampant under FDR, his congress and $upremes. I put this cartoon on my home page shortly after Herr Obozo was elected or scammed in as POTUS.
Said brilliantly! !
My doctor has been doing that all along. I take 3 meds that are low grade meds but one is a pain killer. Every year before he will renew the scrip I have to go in and we have a ‘conversation’. I would be totally surprised if most doctors don’t do that without being ordered to.
“More likely, what the geniuses at Humana, et al understood was an implicit threat: If you guys don’t go along with this scheme, we will destroy you.”
Then, Holder showed them what was in their NSA, FBI, IRS files.
Obama’s fault.
Liz, you are just a racist evil tea party Republican for saving the words/statements of Herr Obozo and his fellow fascists on their Unaffordable Health Care criminal act.
They'll die the first time they come in.
We'll make demographic magic.
See 1. See tag line.
I don’t see the U.S. surviving through 2015. Good job Brownie.
Where were the insurance companies when Obama was selling the country on this mess?
I love that cartoon! Says it all. Nothing has changed since the 1930’s.
“Young pinkies from Columbia and Harvard”, and Harold Ickes also there. His son became the deputy chief of staff under Bill Clinton.
Same old socialism.
We already ARE paying $900/m for insurance with a $12,500 deductible.
Right now.
You might want to look into this.
http://www.libertyhealthshare.org/
“Where were the insurance companies when Obama was selling the country on this mess?”
Funding the fight to pass the law; they thought it would simply guarantee them millions of new (often involuntary) customers. At that point the government was supposed to buy them out.
“I love that cartoon! Says it all. Nothing has changed since the 1930’s.
“Young pinkies from Columbia and Harvard”, and Harold Ickes also there. His son became the deputy chief of staff under Bill Clinton.
Same old socialism.”
My granddad and his two brothers were male role models for me re men besides my Dad.
The three of them hated FDR, his Congress, his Supremes and the democrats.
They hated Progressives, who were the front line soldiers for the Democrats.
They died in the mid 1950’s, and before FR and Fox News, they were fully aware of the treason of the rats and progressives during their lifetime.
I never really understood that hatred until I was in my 40’s to 50’s, and I started reading about the Progressives from pre WWI to WWII and FDR’s takeover of America.
As you noted that cartoon shows that there has been little change since the 1930’s re the democrats when they are in control.
Our 20 year+ dermo is retiring. He’s not putting up with this 0 cr@pola.
I originally thought that, too. Now, I wonder if they were in it, to begin it, knowing that - ultimately - they'd not only receive a bail-out, but be included (benefactors) in the *fundamental transformation* of our healthcare system to single payer.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.