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Keyword: deathspiral

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  • Why Some Can’t Wait for a Repeal of Obamacare

    05/12/2017 10:35:49 AM PDT · by Oldeconomybuyer · 27 replies
    New York Times ^ | May 12, 2017 | By ABBY GOODNOUGH
    For Linda Dearman, the House vote last week to repeal the Affordable Care Act was a welcome relief. Ms. Dearman, of Bartlett, Ill., voted for President Trump largely because of his contempt for the federal health law. She and her husband, a partner in an engineering firm, buy their own insurance, but late last year they dropped their $1,100-a-month policy and switched to a bare-bones plan that does not meet the law’s requirements. They are counting that the law will be repealed before they owe a penalty. “Now it looks like it will be, and we’re thrilled about that,” Ms....
  • Study: Some Alabamians pay more for health insurance than New Yorkers

    05/11/2017 12:22:41 PM PDT · by Oldeconomybuyer · 2 replies
    Alabama.com ^ | May 11, 2017 | BY AMY YURKANIN
    Last year, two national insurance companies dropped out of the marketplace in Alabama, leaving just one option for individuals who purchase insurance through the federal exchange set up under Obamacare. Lack of competition in areas with just one or two insurance providers has been linked to higher premiums in a recent study by the Urban Institute. Median benchmark monthly premiums in areas with just one insurance company averaged $451, compared to $270 for areas with six companies or more. Rural areas and Southern states tend to have less competition, according to the study. Blue Cross Blue Shield of Alabama is...
  • Aetna exits Obamacare exchanges in remaining two states

    05/10/2017 3:17:31 PM PDT · by Oldeconomybuyer · 12 replies
    Reuters ^ | May 10, 2017 | by Deena Beasley
    Health insurer Aetna Inc said on Wednesday it will exit the 2018 Obamacare individual insurance market in Delaware and Nebraska - the two remaining states where it had offered the plans. Aetna had previously announced plans to exit the individual commercial market in Virginia and Iowa. It has now "completely exited the exchanges," the company said in an emailed statement. The insurer attributed the losses to "marketplace structural issues, that have led to co-op failures and carrier exits, and subsequent risk pool deterioration." Aetna said it had 964,000 individual commercial plan members as of the end of 2016, but that...
  • Health insurance companies ask for big rate increases

    05/09/2017 2:50:50 PM PDT · by Oldeconomybuyer · 6 replies
    Washington Post ^ | May 9, 2017
    RICHMOND, Va. - Health insurance companies say they need large rate increases to cover their costs for individual health plans sold in Virginia next year. Preliminary rate requests for 2018 recently filed with the State Corporation Commission average a 28 percent increase among the seven companies offering individual plans. Some major insurance companies, like UnitedHealth Group and Aetna, are pulling out of the Affordable Care Act’s insurance exchange in Virginia next year.
  • Health insurance companies seek rate hikes up to 40 percent in DC

    05/09/2017 10:05:12 AM PDT · by Oldeconomybuyer · 19 replies
    WTOP ^ | May 9, 2017 | By Jeff Clabaugh
    Insurance companies offering individual health care plans in D.C. want to increase premiums from 13 percent to nearly 40 percent on average. Four major insurance companies have submitted health insurance rates for 2018 to the D.C. Department of Insurance, Securities and Banking for review. This will be the fifth year of open enrollment on DC Health Link, the District’s health insurance marketplace under the Patient Protection and Affordable Care Act, better known as Obamacare. In the individual market, CareFirst has proposed an average rate increase of 39.6 percent for HMO plans and 19.7 percent for PPO plans. Kaiser proposed an...
  • Maryland insurers request 38.5 percent rate increase for individual health plans

    05/05/2017 2:06:33 PM PDT · by Oldeconomybuyer · 8 replies
    Baltimore Business Journal ^ | May 5, 2017 | Staff
    Four insurance carriers are seeking average rate increases ranging from 9 percent to 150 percent for individual health plans sold in Maryland for 2018. The proposed rate increases average at 38.5 percent and would bring monthly premium prices for a mid-level plan for a 40-year-old Baltimore resident to between $359.25 and $714.95. The proposed rates are subject to review and approval by the Maryland Insurance Administration. The requests come on the same day House Republicans in Congress passed a bill repealing parts of the Affordable Care Act and replacing them with new provisions. Individual plans are for people who aren't...
  • Aetna exits Iowa individual insurance market for 2018

    04/06/2017 10:41:27 AM PDT · by Oldeconomybuyer · 8 replies
    Reuters ^ | April 6, 2017 | by Caroline Humer
    Health insurer Aetna Inc said on Thursday it will exit Iowa's Obamacare-compliant individual insurance market in 2018, citing financial risk and the uncertain outlook. Aetna said it is still evaluating its other remaining individual insurance markets, which include Delaware, Nebraska and Virginia. The company exited most markets this year but in January said it had more than 240,000 people in individual plans and expected to post losses on them this year. Insurers have said uncertainty over which rules will be in place in 2018 and the billions of dollars in government subsidies that make the plans more affordable to millions...
  • Inflation-hit Venezuela to pull largest bill from circulation (the 100 bolivar=2cents)

    12/11/2016 4:58:26 PM PST · by dynachrome · 23 replies
    Reuters ^ | 12-11-16 | Girish Gupta
    Venezuela, mired in an economic crisis and facing the world's highest inflation, will pull its largest bill, worth two U.S. cents on the black market, from circulation this week ahead of introducing new higher-value notes, President Nicolas Maduro said on Sunday. The surprise move, announced by Maduro during an hours-long speech, is likely to worsen a cash crunch in Venezuela. Maduro said the 100-bolivar bill will be taken out of circulation on Wednesday and Venezuelans will have 10 days after that to exchange those notes at the central bank. Critics slammed the move, which Maduro said was needed to combat...
  • Obama, Clinton tell Democrats not to despair

    11/14/2016 5:11:54 PM PST · by Olog-hai · 28 replies
    Associated Press ^ | Nov 14, 2016 6:29 PM EST | Lisa Lerer
    Democratic leaders delivered pep talks to demoralized supporters on Monday, promising to reassess their strategy, message and organization in the wake of last week’s devastating defeat. “You're allowed to mope for a week and half, maybe two,” President Barack Obama told Democratic National Committee members on a conference call. “But after that, we’ve got to brush ourselves off and get to work.” […] The future looks even grimmer. In two years, Democrats will be defending about two dozen Senate seats, including at least five in deep-red states. That election could hand Senate Majority Leader Mitch McConnell a filibuster-proof majority, further...
  • Obamacare Premiums Up ... 50% In IL, AZ, PA; 93% In NM: When Does The Death Spiral Blow Up?

    10/21/2016 6:37:18 AM PDT · by Rockitz · 26 replies
    ZeroHedge.com ^ | 21 October 2016 | Tyler Durden
    Obamacare premiums are skyrocketing out of sight. A jump of a mere 30% looks like a good deal compared to jumps of over 50% in six states, and 93% in New Mexico. Congratulations are in order for those living in a handful of states whose premiums only rose 20%. The Wall Street Journal reports Rate Increases for Health Plans Pose Serious Test for ObamaÂ’s Signature Law. ... Approved Hikes â—¦Approved Hikes Just Under 20%: Colorado, Florida and Idaho â—¦Approved Hikes 20% to 29%: Connecticut, Georgia, Indiana, Kentucky, Maine, Maryland â—¦Approved Hikes 30% to 49%: Alabama, Delaware, Hawaii, Kansas, Mississippi, Texas...
  • NFL's 'Monday Night Football' Keeps Dropping In Ratings

    10/04/2016 9:42:31 PM PDT · by BeauBo · 90 replies
    Forbes ^ | Oct 4, 2016 | Brandon Katz
    There’s no denying that the numerous #BoycottNFL online campaigns and fan outrage aimed at the National Anthem protests in the NFL have taken a toll in terms of viewership... now the league is on pace for its lowest ratings in years... Overall, MNF‘s (Monday Night Football's) ratings are down a whopping 19% this year
  • 'Death spiral'? ObamaCare problems making coverage harder to afford, find

    09/28/2016 4:57:47 PM PDT · by Rockitz · 30 replies
    FoxNews.com ^ | 28 September 2016 | Dan Springer
    When Health Republic Insurance of New Jersey announced recently that it’s $46 million in debt and shutting down, it became the 17th failed ObamaCare co-op since the Affordable Care Act launched three years ago. Those failures – just six of the original 23 co-ops remain – have left hundreds of thousands of people scrambling for coverage. Meanwhile, insurers claiming big losses are leaving some state exchanges -- including Indiana University Health Plans, whose exit is expected to result in 27,000 Indiana residents losing ObamaCare plans in 2017. And companies still operating in the federal and state exchanges are raising premiums...
  • ObamaCare Suffers Three Major Blows In One Week

    04/23/2016 4:23:56 PM PDT · by MtnClimber · 11 replies
    Investors Business Daily ^ | 22 Apr, 2016 | Editorial Board
    Health Reform: ObamaCare rates will skyrocket next year, according to its former chief. Enrollment is tumbling this year. And a big insurer is quitting most exchanges. That’s what we learned in just the past few days. Marilyn Tavenner, CEO of America’s Health Insurance Plans, revealed that she expects ObamaCare premium hikes “to be higher than we saw previous years,” including last year, which saw double-digit rate increases across the country. Tavenner, for those who don’t know, was head of the Centers for Medicare and Medicaid Services until early 2015, which means she helped bring ObamaCare to life. In November 2014,...
  • Obamacare Guru: Meh, America's Largest Insurer Abandoning the Exchanges isn't a 'Big Blow'

    04/22/2016 1:34:07 PM PDT · by Kaslin · 30 replies
    Townhall.com ^ | April 22, 2016 | Guy Benson
    Give it time. This guy will eventually admit that the country's largest insurer pulling out of most Obamacare exchanges augurs poorly for the fiscal health of the law he championed -- just as he finally got around to conceding that the 'Affordable' Care Act isn't controlling costs.  Nothing to see here, MSNBC viewers (via the Free Beacon): Obamacare architect Zeke Emanuel: UnitedHealth leaving exchanges isn't that big a dealEmanuel claims that this story is overblown because UnitedHealth wasn't a major player in the exchanges.  They were enough of a player to lose over $1 billion in 2015 and 2016, and their concerns about...
  • Citi: World economy trapped in ‘death spiral’

    02/05/2016 8:50:37 AM PST · by Enlightened1 · 39 replies
    CNBC ^ | 02/05/16 | Katy Barnato
    The global economy seems trapped in a "death spiral" that could lead to further weakness in oil prices, recession and a serious equity bear market, Citi strategists have warned. Some analysts -- including those at Citi -- have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S. "The world appears to be trapped in a circular reference death spiral," Citi strategists led by Jonathan Stubbs said in a report on Thursday. "Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global...
  • Stocks panic as United Healthcare merely THINKS about dropping out of Obamacare.

    11/19/2015 9:32:13 PM PST · by JSDude1 · 20 replies
    Redstate ^ | November 19th, 2015 | Moe Lane
    The very short version: United HealthCare is the biggest health care insurance provider in the country (something like 70 million people, apparently). It is huge, it is influential, it is weighty. And UHC took a $425 million dollar haircut last year in the Obamacare exchanges, so now it’s thinking of stopping selling on the exchange by the end of next year. Note that UHC did not say that they would, merely that they might. They did this at a shareholders’ meeting, too; which suggests that a large part of that might have been due to UHC’s awareness that people were...
  • Obamacare Enters a Downward Spiral as Co-ops Fail and Enrollment Slows

    10/25/2015 7:59:46 AM PDT · by SeekAndFind · 23 replies
    National Review ^ | 10/25/2015 | by AKASH CHOUGULE
    Canceled plans, lost doctors, higher costs: That is the continuing reality for millions of Americans under President Obama’s health-care law. Unfortunately, for hundreds of thousands more, it’s about to get a lot worse. As of this week, nine of the law’s 23 state co-ops — nonprofit health-insurance companies set up to help people enroll in Obamacare — have collapsed. Over 600,000 people who enrolled in co-op health plans will lose their insurance at the end of this year. Many of them were forced into the co-ops to begin with when Obamacare canceled their private insurance policies in 2013, meaning they...
  • ObamaCare is entering its dreaded ‘death spiral’

    10/20/2015 8:44:03 AM PDT · by SeekAndFind · 55 replies
    New York Post ^ | 10/20/2015 | By Betsy McCaughey
    ObamaCare is heading toward a death spiral. The Obama administration is having trouble selling insurance plans to healthy people. That’s a big problem: When the young and healthy don’t enroll, premiums have to be hiked to cover the costs of older, sicker people, discouraging even more young people from signing up. Last Thursday, the administration predicted enrollment for 2016 will be less than half what the Congressional Budget Office predicted in March. Despite subsidies to help with premiums and out-of-pocket costs, most of the uninsured who are eligible for ObamaCare are saying “no thanks.” Only one in seven is expected...
  • Mercury News editorial: California must raise Medi-Cal reimbursement rates

    05/13/2015 3:26:25 PM PDT · by Oldeconomybuyer · 20 replies
    San Jose Mercury News ^ | May 13, 2015 | Editorial Board
    California is serving as the national model for President Barack Obama's health care reforms, but that won't continue unless the state does something about its abysmal Medi-Cal reimbursement rates for doctors and hospitals caring for the 12 million Californians with Medi-Cal coverage. Gov. Jerry Brown has a golden opportunity to fix the problem Thursday when he unveils his May revised budget plan. But don't hold your breath. It's becoming increasingly clear that the influx of 2.7 million Californians to the Medi-Cal roles is putting a strain on the state's medical system. The low reimbursement rates provide a disincentive for physicians...
  • Central bank prophet fears QE warfare pushing world financial system out of control

    01/21/2015 4:46:57 PM PST · by 9thLife · 7 replies
    The Telegraph ^ | 6:48PM GMT 20 Jan 2015 | By Ambrose Evans-Pritchard, in Davos
    The economic prophet who foresaw the Lehman crisis with uncanny accuracy is even more worried about the world's financial system going into 2015. Beggar-thy-neighbour devaluations are spreading to every region. All the major central banks are stoking asset bubbles deliberately to put off the day of reckoning. This time emerging markets have been drawn into the quagmire as well... "We are in a world that is dangerously unanchored," said William White, the Swiss-based chairman of the OECD's Review Committee. "We're seeing true currency wars and everybody is doing it, and I have no idea where this is going to end."...