Skip to comments.UnitedHealth, Aetna and Cigna opt out of California insurance exchange [Obamacare]
Posted on 05/23/2013 3:14:52 PM PDT by grundle
Some prominent health insurers, including industry giant UnitedHealth Group Inc., are not participating in California's new state-run health insurance market, possibly limiting the number of choices for millions of consumers.
UnitedHealth, the nation's largest private insurer, Aetna Inc. and Cigna Corp. are sitting out the first year of Covered California, the state's insurance exchange and a key testing ground nationally for a massive coverage expansion under the federal healthcare law.
(Excerpt) Read more at latimes.com ...
Those are three huge companies.
Don’t let them fool ya, healthcare companies are all for obamacare. They will step up to the trough just as they did for the medicare supplement plans and drug plans.
They do and they are signing their own death warrant. I know they are greedy, but hopefully they are not stupid
Don’t be mistaken, the ObamaCare exchanges will only allow the largest one or two insurers in each state to be profitable, in CA’s case that is Kaiser Permanente and BCBS.
In a rigged war, these companies have fled the battlefield before the fight, and will make more money in investments and operations outside of the insurance industry.
Consider this a blessing, it denies gravitus to ObamaCare and it denies the politicians the ability to proclaim ObamaCare is a failure and the country must switch to singlepayer, because the current system is so broken it can’t even be declared a failure, it is stillborn.
The union workers in CA, especially those with the MEWA (Multiple Employer Welfare Arrangements under ERISA ) insurance plans, have just got officially farked in the arse by Obama and the Democrats. The corrupt union officials in CA will make out well, further dividing the union leadership from the rank and file union members.
These insurers are outlining their long term strategy, while Obama’s people on the politicla and FedGov bureaucracy side are mostly concerned with just another 3.5 years, after which it’ll be the next poor slob’s problem.
Not if the payments don’t cover the costs. You go out of business that way.
If I were CEO of any health care insurer or provider, I would be looking for a way to liquidate and get out of that business.
Want to fix Obamacare? Make it apply to Congress. (Same goes for Social Security.)
As for Obamacare:
SEC. 1312 [42 U.S.C. 18032]. CONSUMER CHOICE. (D) MEMBERS OF CONGRESS IN THE EXCHANGE. (i) REQUIREMENT.Notwithstanding any other provision of law, after the effective date of this sub- title, the only health plans that the Federal Government may make available to Members of Congress and congressional staff with respect to their service as a Member of Congress or congressional staff shall be health plans that are (I) created under this Act (or an amendment made by this Act); or (II) offered through an Exchange established under this Act (or an amendment made by this Act). (ii) DEFINITIONS.In this section: (I) MEMBER OF CONGRESS.The term Member of Congress means any member of the House of Representatives or the Senate. (II) CONGRESSIONAL STAFF.The term congressional staff means all full-time and part-time employees employed by the official office of a Member of Congress, whether in Washington, DC or outside of Washington, DC.
If you have contradicting links, please post.
“Aetna and Cigna good but United is the worst provider on the market...”
I had UHC for many years and am very happy with it.
Obamacre allows “Cadillac” health plans like congress has.
They’re more expensive under it, but price has never mattered to Congress.
Of course Congress doesn’t get the minmum coverage the peons get.