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.