Posted on 11/12/2013 5:19:08 PM PST by Vendome
So I am sitting here contemplating some business decisions and doing my forecasting for 2014. Suddenly it occurs to me the insurance companies must have done the same thing and expected a certain amount of customers and revenue relative to each spend.
Bit...here it comes....this forecasts are crap since ObamaCare® website doesn't make it easy to acquire a customer and in fact, it impedes utilization.
How are the presidents of these companies going to explain their churn and a funnel that operates more like a sieve ?
But Obamacare is designed to fail!!!
They will not fail to utilize a crisis to attempt to usher in the Single Payer (or nationalization) for which the ‘Progressives’ clamor.
The insurance companies wrote the bill to begin with. They aren’t likely to lose anything. “”””
I don’t think the insurance companies saw the parts about—”IF your current p[olicy does NOT cover everything but the kitchen sink—you can NOT keep it” & the insurance company must shut down those policies.
That horrendous bill had additions right up to the vote on the 2700 pages, and it is now over 15,000 p0ages or higher according to some comments here on FR.
Sebelius has complete control & she is raising the ante at every chime of the clock.
My understanding is that those insurance companies that make “excess” profits will pay into a pool. Those insurance companies that lose money will draw from the pool. I suspect the taxpayers will bailout the insurance companies if no insurance companies make “excess” profits. The “excess” profits start at 103% of previous profits.
They aren’t likely to lose anything. “””
As of Dec 2013, many premiums—which are paid in advance will not be flowing to the insurance companies.
Mark my words—the insurance companies will not be gaining anything with this mess.
My recollection was that they will be reimbursed by the government for any losses over 3%.
“The insurance companies wrote the bill to begin with.”
While they had influence over bits and pieces, I’m not sure that it can be said that anyone “wrote the bill”. The thing had pieces from various proposals over the years thrown together to get something passed before Scott Brown could be seated, without a unifying overseer. There were certainly desired clauses included amongst the debris, but no signs of a coherent whole.
Stuff in the Wall Street Journal today about how the insurance companies are worried.
WSJ seems to have found a leaker who gave them a figure of 50,000 enrolled, and they checked this with legitimate sources, who said it sounded about right.
I would bet that even if the insurance companies know they are going to lose out in the end, the particular executives who were in charge when this fiasco was created, and still are now, were kicking the can down the road: As long as they were packing away their fat salaries and who know what else for the next few years, they were happier than they would have been with single payer.
I’ve noticed that when men are taking care of their own families, they have a gold-plated excuse to behave in a way that would otherwise be considered unethical.
IIRC Obamacare passed on the premise that it was 10 years of payments for 6 years of benefits.
That had to be factored into the debacle.
If only they would. They are so lame.
oh come on barry can’t deal with every small detail, here. /s
The fact they leaked numbers is telling. I think they muddle through 2014 (with the taxpayers being a backstop) and then start making demands on the King for 2015. I’ve also gotten marketing material, and my policy was extended til 12/1/14.
It’s all up in the air. No one knows. From the retail rx perspective, will there be more business overall (more Medicaid patients)? Less business (high deductibles, less people seeking treatment)? So do you hire more? Less?
Disaster. All the way around.
There is a provision in the law that if the insurance companies suffer losses, the govt will assure them at least a 3% profit no matter what. Everyone gets a bribe in Obamacare.
You are correct. People, losing affordable insurance that payers claims after modest deductibles, will be FORCED to buy expensive policies from insurance companies that have premiums so high few can really afford them and deductibles so high there will be little payout for a normal family. The insurance companies were part of this scam. Talk about evil, dark collusion.
A sailing vessel with the second mast forward of the rudder post. If it is speedy and handles well it is a good ketch. ;D)
When the web site gets fixed and responsive, SUPPOSEDLY those who have lost insurance can get Obamacare policies.
Whn your enemy is committing suicide, do not intervene.
But, if the policies are unaffordable what will they do then?
Oh?!
Like the banks and TARP.
How many people have to die as a result of this “reform”?
them a figure of 50,000 enrolled, and they checked this with legitimate sources, who said it sounded about right.
= = = = = = = = = = = = = = =
Chris Plante (WMAL AM630 DC) was ‘playing’ with the #’s today..said the leak was about 49,100 enrolled BUT he thinks that will include the people that put stuff in their ‘check out box(?)’, not just those that actually purchased.
Anyway he trotted out the # 67mill to sign 50,000 former ACORN and COmmunity Organizer types ....which, for 6 weeks, even using THEIR own numbers is less that 1 per.
Someone called in and said ‘YOU would at least think, for appearance sake, they would have made the 50,000 sign up.
Oh well,
Joseph Heller couldn’t dream up a scenario like this....
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