Illinois seeks to shut down state Obamacare insurer; 49,000 to lose insurance

Chicago Tribune ^ | July 13, 2016 | Ameet Sachdev

[EVO X]

Illinois moved Tuesday to take control of Land of Lincoln Health to begin an orderly shutdown of the insurance company, meaning about 49,000 people will lose their health coverage in the coming months.

The state said it will allow policyholders to buy coverage from a different insurer before their Land of Lincoln plans are terminated, but it's unclear when the policies will lapse.

"It's a bad day for the marketplace in Illinois and our consumers," said Jason Montrie, president and interim CEO of Chicago-based Land of Lincoln. "This is the end."

[EVO X]

Another one bites the dust.

[hal ogen]

Bwahahahahahaha. All LIBs suffer. Bwahahahahahaha.

[VRWCarea51]

Looks like Obama was right, they will save 2,500 dollars on their premiums. /s

[Gamecock]

If you like your Obamacare you can keep your Obamacare!

[Buckeye McFrog]

"It's a bad day for the marketplace in Illinois and our consumers," said Jason Montrie, president and interim CEO of Chicago-based Land of Lincoln.

That's like the captain of the Titanic standing on the deck and announcing to the passengers "it sucks to be you!"

[dfwgator]

Here comes Single-Payer right on cue.

[HarleyLady27]

Isn't this where the ‘community organizer’ lived? Will he claim Ill. after he leaves office? Or will he eventually move back to Kenya?

[DungeonMaster]

All part of the one payer plot.

[EVO X]

This co-op has been sucking air for some time. On a side note, Health Alliance in Illinois announced a few weeks ago that it was no longer going to be involved with providing expanded medicaid service.

[KC Burke]

Wife had to buy Obama Care for a few months between my retirement and her joining Medicare. Because of our state’s bad record the first year her plan is an HMO. She has a huge deductable and a huge out-of-pocket and can’t see her Docs. Due to the short term it is like a quadruple priced old style catastrophic policy at 800 a month. She has pediatric dental and similar crap but nothing of use. Wasted money for her — free ride for those that ride for free.

[EVO X]

You really get clobbered if your in your late 50’s and early 60’s and have to pay full fare..

[EVO X]

If you like your Obamacare you can keep your Obamacare!

People that buy on exchanges can keep Obamacare but they are constantly changing plans and doctors. Guess that is one of the reasons they went to electronic health records.

[stars & stripes forever]

[You really get clobbered if your in your late 50’s and early 60’s and have to pay full fare..]

If you’re healthy, it would be wise to enroll in a health share program. It saves a lot of $$$$$$$.

[EVO X]

You can also get out of paying full fare if you can tweak your AGI to get subsidies or claim a hardship because it costs more than 8% of income. If you can get the hardship waiver, you can buy cheaper catastrophic coverage. At least for the time being.

[A CA Guy]

They want welfare care for all.

[Brilliant]

This is why Hillary is suddenly so keen on the public option despite the fact that she panned it in the primaries. She knows that Obamacare is about to implode and she needs to hide the evidence of failure.

[fwdude]

And in Illinois, even.

[immadashell]

The co-op now joins a list of 15 other Obamacare co-ops that have collapsed since Obamacare has been implemented. Failed co-ops have now cost taxpayers more than $1.7 billion in funds that may never be recovered

'nuff said!

[EVO X]

BCBS trimmed its provider networks in Illinois last year. Rate increases for 2017 haven’t been announced yet, but should come out in the next month or so.