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Keyword: exchanges

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  • Rising Cost of Medicaid Expansion Is Unnerving Some States

    10/06/2016 12:11:17 PM PDT · by tekrat · 26 replies
    Associated Press and ABC News ^ | 10/5/2016 | Christina A. Cassidy
    The cost of expanding Medicaid under President Barack Obama's health care overhaul is rising faster than expected in many states, causing budget anxieties and political misgivings. Far more people than projected are signing up under the new, more relaxed eligibility requirements, and their health care costs are running higher than anticipated, in part because the new enrollees are apparently sicker than expected. Rising drug prices may also be a factor. As a result, at least three expansion states, Arkansas, Kentucky and Ohio, have been pushing to require Medicaid recipients to pay more toward their health insurance - a step that...
  • Another Health Insurance Giant Flees More Obamacare Markets (PREMIUM HIKES)

    09/29/2016 4:56:22 AM PDT · by GailA · 11 replies
    Townhall ^ | 9/28/16 | NA
    Since everyone's still buzzing about Monday night's debate seen 'round the planet, I figured I'd offer some counter-programming. Hillary Clinton has said on multiple occasions that Obamacare is "working," but that it needs some "fixes" such as an even bigger government role and more taxpayer funding. Just last week, Harry Reid claimed that Americans who read the news know that the law has been a positive for the country. (Click through on those links for our detailed rebuttals at the time). The ongoing reality is that this failed, unpopular, party-line policy experiment is collapsing under its own weight. The latest...
  • Blue Cross drops out of Nebraska's Obamacare marketplace

    09/23/2016 6:28:25 PM PDT · by Mean Daddy · 10 replies
    Omaha World Herald ^ | Sept. 23, 2016 | Steve Jordon
    Blue Cross Blue Shield of Nebraska said Friday it won’t sell individual health insurance on the Affordable Care Act marketplace next year because of continuing losses. Blue Cross’ departure removes the state’s largest health insurer from the individual marketplace, leaving only Aetna and Medica Health to offer individual policies on the Nebraska’s exchange for 2017. Steve Martin, the chief executive of Blue Cross, told The World-Herald that the company has lost $140 million on the exchange policies since 2014. If the trend continued, losses could total $250 million by the end of 2017, he said. As of this year, around...
  • The Health Insurance Companies Are Scamming America

    09/20/2016 1:29:53 PM PDT · by Kaslin · 17 replies ^ | September 20, 2016 | Hal Scherz
    The Obamacare insurance co-ops have collapsed. Of the original 23, only three are expected to survive past 2017. The insurance companies are losing hundreds of millions of dollars on the healthcare insurance exchanges. Their reaction is to pull out of a number of them in order to reduce their exposure; a process they repeatedly employ to shed under-performing products called “purging”. To make up for these losses, insurers are expected to raise 2017 premiums across the board on all policies. The Kaiser Foundation expects an average increase of nine percent for policies on the exchanges, but in the individual market,...
  • Another Obamacare Co-Op Folds, Leaving Only 6 Remaining

    09/14/2016 1:58:57 PM PDT · by EVO X · 10 replies
    Washington Free Beacon ^ | September 13, 2016 | Ali Meyer
    Health Republic Insurance of New Jersey is folding after the state’s insurance commissioner put the Obamacare co-op in “rehabilitation” due to its hazardous financial condition. The co-op had a liability of $46.3 million under the Affordable Care Act’s risk adjustment program, according to the New Jersey Department of Banking and Insurance. That program was designed to transfer money between insurers in case one insurer had more costly enrollees “Despite our hard work and growing customer base, the unfortunate necessity for complying with the [Affordable Care Act’s] risk adjustment mandate has put the company under considerable financial strain,” said Tom Dwyer,...
  • One-third of US won't have choice between Obamacare plans in 2017

    08/22/2016 10:18:55 AM PDT · by PROCON · 24 replies
    CNBC ^ | Aug. 22, 2016 | Dan Mangan
    It's looking like a lot of people are going to have little Obamacare choice next year.One-third of the United States may have just a single insurer to pick from on Obamacare marketplaces in 2017, an analysis released Friday suggests. Seven entire states are projected to have just one carrier in 2017: Alaska, Alabama, Kansas, North Carolina, Oklahoma, South Carolina and Wyoming, according to research by the Avalere consultancy. And more than half of the country, 55 percent, may end up having two or fewer insurers to choose from on those government-run exchanges, Avalere said. "And there may be some sub-region...
  • GHP seeks 41 percent rate hike (Geisinger Health Plan, very big in PA)

    08/22/2016 11:33:39 AM PDT · by jiggyboy · 8 replies
    The Daily Item ^ | August 22, 2016 | Rick Dandes
    If you rely on health insurance provided by companies aligned with the Affordable Care Act marketplace in Pennsylvania, prepare yourself for sticker shock when it’s time to pay those premiums in the fall. Valley residents enrolled in the ACA marketplace can choose from programs offered by Capital Advantage, Geisinger, Highmark, UPMC Health Options, Geisinger Health Plan, Geisinger Quality Options, and Keystone Health Plan Central. All are proposing significant rate increases for monthly premiums in 2017.
  • Big 3 Insurance Flip Obamacare the Bird

    08/22/2016 9:18:16 AM PDT · by Kaslin · 35 replies ^ | August 22, 2016 | Katie Kieffer
    UnitedHealthcare, Humana—and now Aetna—are abandoning Obamacare exchanges because they’re unprofitable. Meanwhile, for the first time in 10 years, the U.S. death rate has increased. CDC researcher Andrew Fenelon told the Associated Press: “…it is quite rare to see it [a death rate increase] for the whole population. … Many countries in Europe are witnessing declines in mortality, so the gap between the U.S. and other countries is growing.” For 80 percent of the past decade, President Obama has been president. Obamacare was unconstitutionally rammed through Congress on Christmas Eve of 2009. Isn’t it interesting that in 2016—with Obamacare in full...
  • Aetna drops out of ObamaCare exchanges in 11 states

    08/17/2016 5:56:00 PM PDT · by Sean_Anthony · 10 replies
    Canada Free Press ^ | 08/17/16 | Dan Calabrese
    Freefall Remember when Democrats, still in the midst of shoving ObamaCare down the throats of an unwilling nation, argued that it would actually be “market-based”? Democrats don’t know anything about how truly free markets work, of course, but their argument was that the ObamaCare exchanges were basically competitive marketplaces in which consumers could shop for the insurance that would make sense for them. OK, granted, it’s a marketplace operating under the artificially imposed and completely insane parameters imposed by the government. And OK, what we commonly call health “insurance” isn’t really anything like a real insurance product. And OK, the...
  • Aetna Pulls Back on Obamacare Health Insurance Plans in 2017

    08/16/2016 1:36:28 PM PDT · by GilGil · 17 replies
    NBC News ^ | 8/16/2016 | Reutuers
    Aetna, the No. 3 U.S. health insurer, on Monday said that due to persistent financial losses on Obamacare plans, it will sell individual insurance on the government-run online marketplaces in only four states next year, down from the current 15 states. Aetna's decision follows similar moves from UnitedHealth and Humana, which have cited similar concerns about financial losses on these exchanges created under President Barack Obama's national healthcare reform law.
  • Aetna to cut back 70% on Obamacare plans in 2017

    08/16/2016 5:01:59 AM PDT · by mykroar · 16 replies ^ | Bertha Coombs
    Aetna is sharply cutting its participation in Obamacare exchanges for 2017. The health insurer said it will offer individual Affordable Care Act exchange plans in just four states, down from 15 this year, in an effort to reduce its losses. "As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision," Chairman and CEO Marc Bertolini said in a statement. The insurance giant says it will offer ACA exchange plans in Delaware, Iowa, Nebraska and Virginia, slashing its Obamacare footprint by 70 percent next year. It will...
  • Blue Shield Of California: Furlough over Obamacare Losses

    08/16/2016 8:42:39 AM PDT · by Nachum · 27 replies
    Breitbart ^ | 8/16/16 | AWR Hawkins
    Blue Shield of California (BSC) will be shutting down for four days following Labor Day weekend as a way to stop the financial bleeding resulting from losses in “Covered California,” the state’s Obamacare exchange program. The change will “affect most of [BSC’s] 6,000 employees in California,” the San Francisco Business Times reports, although the “exact number of workers involved hasn’t yet been tabulated.” But BSC hopes that the move could save “an estimated $4 million.” According to the Times, BSC spokesman Steve Shivinsky said, “This is certainly not normal for us. We’re definitely seeing some income challenges as of mid-year.”
  • Taxpayers on the Hook as Obamacare Exchanges Near the Edge of Collapse

    08/14/2016 9:30:39 PM PDT · by Olog-hai · 19 replies
    Cybercast News Service ^ | August 12, 2016 | 4:08 PM EDT | Phil Kerpen
    The health insurance exchanges that are the beating heart of Obamacare are on the edge of collapse, with premiums rising sharply for ever narrower provider networks, non-profit health co-ops shuttering their doors, and even the biggest insurance companies heading for the exits amid mounting losses. Even the liberal Capitol Hill newspaper is warning of a possible “Obamacare meltdown” this fall. Three states — Alaska, Alabama, and Wyoming — are already down to just a single insurance company, as are large parts of several other states, totaling at least 664 counties. UnitedHealth is pulling out completely, Humana is pulling out of...
  • Blue Cross and Blue Shield of Minnesota Bails On ObamaCare After $500M Loss

    06/25/2016 8:29:04 AM PDT · by lowbridge · 25 replies
    Breitbart ^ | June 24, 2016 | Jlhn Hayward
    The partial withdrawal of Blue Cross and Blue Shield of Minnesota from the ObamaCare marketplace, driven out by staggering financial losses, is another important milestone in the collapse of the ill-conceived and inaccurately named Affordable Care Act. Providers have been bailing out of ObamaCare across the land, but not Blue Cross/Blue Shield providers. It’s not a total departure from the market, as CEO Michael Guyette took pains to explain at the Minneapolis Star-Tribune: In a sign of continuing tumult in the health insurance industry, the state’s largest insurer said Thursday it will no longer offer its traditional suite of flexible...
  • UnitedHealth pulls out of Obamacare in California

    05/31/2016 2:51:50 PM PDT · by Tilted Irish Kilt · 20 replies ^ | 5/31/16 | By Robert King
    UnitedHealth is exiting California's Obamacare exchange as part of its exodus from the law's individual marketplaces. The state's Obamacare exchange, Covered California, told Kaiser Health News on Tuesday that the largest U.S. insurer is leaving the entire individual market in the state. Obamacare comprises a majority of the individual market, which is for people who don't get insurance through their job. UnitedHealth has been in the exchange for only about a year and has about 1,200 enrollees. Covered California had more than 425,000 people enroll overall in the latest open enrollment period. Earlier this year, UnitedHealth announced it was leaving...
  • Insurers Seek Big Premium Boosts

    05/26/2016 2:27:12 PM PDT · by reaganaut1 · 25 replies
    Wall Street Journal ^ | May 25, 2016 | LOUISE RADNOFSKY
    Big health plans stung by losses in the first few years of the U.S. health law’s implementation are seeking hefty premium increases for individual plans sold through insurance exchanges in more than a dozen states. The insurers’ proposed rates for individual coverage in states that have made their 2017 requests public largely bear out health plans’ grim predictions about their challenges under the health-care overhaul. According to the insurers’ filings with regulators, large plans in states including New York, Pennsylvania and Georgia are seeking to raise rates by 20% or more. In states such as Florida and Maryland, insurers are...
  • New York Health Insurers on Obamacare Exchange Seeking Massive Rate Hikes

    05/23/2016 7:19:40 AM PDT · by rustyweiss74 · 16 replies
    The Mental Recession ^ | 05/23/2016 | Rusty Weiss
    Insurers on the New York health exchange are requesting rate hikes averaging in excess of 17%, with UnitedHealthcare going as high as a whopping 45.6%. UnitedHealthcare has already announced that they would exit most of the Affordable Care Act state exchanges in which they operate in 2017, New York being one of the few exceptions. The biggest health insurer in the country announced that it lost $475 million on the ACA exchanges last year and could lose another $500 million this year. They explained that states in which they would continue to serve – like New York – would be...
  • (Health) Insurance Options Dwindle in Some Rural Regions

    05/16/2016 10:37:34 AM PDT · by reaganaut1 · 11 replies
    Wall Street Journal ^ | May 15, 2016 | ANNA WILDE MATHEWS and STEPHANIE ARMOUR
    Health-insurance customers in a growing number of mostly rural regions will have just one insurer’s plans to choose from on the Affordable Care Act’s exchanges next year, as some companies pull out of unprofitable markets. The entire states of Alaska and Alabama are expected to have only one insurer on the health law’s signature online marketplaces next year, according to state regulators. The same is expected to be true in parts of several other states, including Kentucky, Tennessee, Mississippi, Arizona and Oklahoma, state regulators said. So far, more than 650 counties appear on track to have just one insurer on...
  • The Obamacare Health Exchange in Tennessee Is Sickening

    05/12/2016 5:57:44 AM PDT · by Oldeconomybuyer · 14 replies
    The Knoxville Mercury ^ | May 11, 2016 | by Joe Sullivan
    After raising its premiums for coverage on the Obamacare exchange by 36.3 percent for 2016, the state's dominant health insurer is heralding another increase of the "same order of magnitude" for 2017. BlueCross BlueShield claims it lost more than $150 million in 2015 when its rates were among the lowest in the land. But the 36.3 percent increase for 2016, the largest of any state, brings Tennessee rates to just about the national average. So how on Earth can costs be going up so exponentially to justify such a rate increase on the part of a nonprofit insurance company whose...
  • Feds Blow Off House Subpoena For Obamacare Co-Op Docs

    04/21/2016 7:36:55 AM PDT · by safetysign · 22 replies
    The Daily Caller ^ | 04/20/2016 | Kathryn Watson
    Federal health officials refuse to give Congress hundreds of subpoenaed documents on Obamacare’s failed co-ops so that people will continue enrolling in the deeply troubled program, a congressional leader said Tuesday. Twelve of the 23 co-ops created in 2011 under Obamacare at a cost of $2.4 billion have failed, and another eight of the remaining 11 are likely to go under this year. But the U.S. Department of Health and Human Services (HHS) won’t hand over documents subpoenaed months ago by the House Committee on Oversight and Government Reform. Republican Rep. Jason Chaffetz  82% , who chairs the House...
  • Conservatives Can’t Let Obamacare’s Collapse go to Waste

    04/21/2016 7:18:09 AM PDT · by writer33 · 9 replies
    Conservative Review ^ | 04/21/16 | Joshua Withrow
    On Tuesday, the largest private health insurance provider in the U.S., United Healthcare, announced that it would be pulling its plans out of the ObamaCare exchanges in all but a few states. Among a continuing string of bad news for President’ Obama’s Affordable Care Act, this one should stand out as an indicator that the ACA’s collapse is accelerating. Conservatives need to be ready to explain why and to present solutions, because advocates for fully socialized medicine will be ready to turn the collapsing exchanges to their advantage. All of the deficiencies in Obamacare’s structure have been well documented. High...
  • Getting Set To Pick Up The Pieces Of ObamaCare’s Collapse

    04/21/2016 7:05:26 AM PDT · by MarvinStinson · 18 replies
    New York Post ^ | April 19, 201 | Betsy McCaughey
    ObamaCare’s collapsing. UnitedHealth announced it will abandon most ObamaCare markets. Giant insurers like Aetna and the BlueCross Blue Shield Association are next. They warned last week losses trying to sell ObamaCare plans are “unsustainable” and they’ll either stop selling the plans or significantly raise premiums. Even Hillary Clinton’s campaign admits the cost of ObamaCare is “crushing.” Six years of ObamaCare have taught the nation lessons that Republicans should not ignore. Keep it short: Don’t give us another 2,572-page “comprehensive” health bill that lawmakers vote on without reading. What Congress passes, Congress must live by: Under Obamacare, members of Congress and...
  • Obamacare Exodus Accelerates: After Georgia And Arkansas, Biggest Health Insurer Exits MI and OK

    04/19/2016 5:54:06 AM PDT · by TigerClaws · 18 replies
    Two weeks ago we reported that after its November warning that it may exit certain Obamacare markets as a result of substantial losses, the largest U.S. health insurer UnitedHealth, did just that when it announced it would no longer sell plans for next year in Georgia and Arkansas. Then over the weekend, UnitedHealth also added Michigan to the list of states whose Obamacare market it would no longer service. As Bloomberg reported, "the insurer won’t sell policies through Michigan’s ACA exchange for next year, according to Andrea Miller, a spokeswoman for the state’s Department of Insurance and Financial Services. Georgia...
  • Insurer UnitedHealth starts pruning ACA exchange business

    04/11/2016 7:40:25 PM PDT · by Olog-hai · 18 replies
    Associated Press ^ | Apr 11, 2016 4:44 PM EDT | Tom Murphy
    The nation’s biggest health insurer has decided to stop selling coverage on public insurance exchanges in two states for next year, but consumers shouldn’t take this as an early warning that a mass exodus is brewing from a key element of the Affordable Care Act’s coverage expansion.Analysts say these exchanges may be improving for insurers after a difficult start. However, they also expect insurers to continue leaving some unprofitable markets as the coverage expansion heads toward its fourth year. UnitedHealth Group Inc. said it will not sell coverage on exchanges in Arkansas and Georgia for 2017, and it is continuing...
  • Doctors, Hospitals Owed by Failed ObamaCare Co-ops May Get Stiffed by Uncle Sam

    03/10/2016 2:27:23 PM PST · by detective · 9 replies
    The New American ^ | 10 March 2016 | Michael Tennant
    Who gets paid first when an ObamaCare co-op goes belly up: the doctors and hospitals that cared for co-op enrollees or the federal government, which caused the co-op mess in the first place? If the Obama administration has it way, Uncle Sam will be at the head of the line to recoup losses, quite possibly leaving healthcare providers in the lurch, reported the Daily Caller.
  • Official: 8 of 11 Remaining Obamacare Co-Ops on the Brink

    02/29/2016 7:02:53 PM PST · by Kaslin · 9 replies
    The Washingon Free Beacon ^ | February 29, 2016 | Ali Meyer
    An official with the Centers for Medicare and Medicaid Services told lawmakers last week that eight of the 11 remaining Obamacare co-ops have been selected for "corrective action plans" and "enhanced oversight." Twenty-three co-ops were created under the president's health care overhaul, and so far more than half have collapsed and are no longer selling plans in the marketplace. The 12 co-ops that went out of business operated in Arizona, Michigan, Utah, Kentucky, New York, Nevada, Louisiana, Oregon, Colorado, Tennessee, South Carolina and a co-op serving Iowa and Nebraska. The agency's chief operating officer, Dr. Mandy Cohen, told the House...
  • Minuteman draws $100M from feds to deal with Obamacare; alternative to bankruptcy or being 'lucky'

    02/25/2016 11:05:46 AM PST · by Oldeconomybuyer · 7 replies
    Boston Business Journal ^ | February 25, 2016 | by Jessica Bartlett
    Minuteman Health has drawn down $100 million in federal loans in anticipation of continued losses from the Affordable Care Act. The Massachusetts co-op insurer, which also operates in New Hampshire, will report the draw down and a second-consecutive year of operating losses as part of its fiscal 2015 financials. Minuteman officials said the borrowings are needed to offset certain components of Obamacare, which financially punish insurers for doing the very things the federal law was intended to address: to provide affordable health insurance to previously uncovered segments of the population. What ObamaCare's architects didn't anticipate, and what local insurers are...
  • Insurer warnings cast doubt on ACA exchange future

    02/26/2016 7:52:56 AM PST · by Olog-hai · 20 replies
    Associated Press ^ | Feb 26, 2016 10:13 AM EST | Tom Murphy
    Political uncertainty isn't the only threat to the Affordable Care Act's future. Cracks also are spreading through a major pillar supporting the law. Health insurance exchanges created to help millions of people find coverage are turning into money-losing ventures for many insurers. The nation's largest, UnitedHealth Group Inc., could lose as much as $475 million on its exchange business this year and may not participate in 2017. Another major insurer, Aetna, has questioned the viability of the exchanges. And a dozen nonprofit insurance cooperatives created by the law have already closed, forcing around 750,000 people to find new plans. More...
  • Omnibus Includes Lethal Rejection for Obamacare

    12/21/2015 3:56:12 AM PST · by rootin tootin · 51 replies
    American Spectator ^ | 12/21/2015 | David Catron
    Yes, yes. I know. Only a RINO or a (Trumphradites may insert preferred epithet for thinking Republicans here) would claim that the House omnibus spending bill contains anything conservatives can applaud. It does, nonetheless, include such a provision. As Ronald Reagan (who signed several omnibus bills himself) famously said, facts are stubborn things. And one of the most intransigent facts about this bill is that it imposes a deadly dose of fiscal restraint on Obamacare. It requires the law's risk corridor program to remain budget neutral. This is far more dangerous to the Affordable Care Act than most observers realize....

    12/10/2015 6:25:29 PM PST · by dynachrome · 10 replies
    AP ^ | 12-10-15 | TOM MURPHY
    The lone health insurance cooperative to make money last year on the Affordable Care Act's public insurance exchanges is now losing millions and suspending individual enrollment for 2016. Maine's Community Health Options lost more than $17 million in the first nine months of this year, after making $10.9 million in the same period last year. A spokesman said higher-than-expected medical costs have hurt the cooperative.
  • Obamacare Endures the Death of a Thousand Facts

    11/23/2015 3:42:52 AM PST · by rootin tootin · 17 replies
    American Spectator ^ | 11/23/2015 | David Catron
    Until the 19th century, the Chinese practiced a method of torture called lingchi. Better known as “death by a thousand cuts” it involved slicing small pieces of flesh from a victim’s body, one by one, so that death was both protracted and utterly excruciating. This is what the realities of economics are doing to the Patient Protection and Affordable Care Act. The authors of health care “reform” believed they could ignore the dismal science. The laws of economics have rewarded this hubris by ruthlessly inflicting fact after agonizing fact on Obamacare. And, like all lingchi victims, it will eventually succumb....
  • Obama-Scare: Biggest US health insurer might leave exchanges

    11/19/2015 5:10:43 PM PST · by lbryce · 10 replies
    Fox ^ | November 19, 2015 | Staff
    The nation’s largest health insurer fired a shot across the bow of ObamaCare on Thursday, citing flagging enrollment and high-risk customers in suggesting it may have to pull out of the exchanges in 2017. UnitedHealth Group raised the alarm in an earnings update Thursday morning, with CEO Stephen J. Hemsley warning of dimming conditions in the market. He pointed to lower enrollment forecasts and a concern that the exchanges are increasingly taking on less healthy – and therefore more costly – customers. “In recent weeks, growth expectations for individual exchange participation have tempered industrywide, co-operatives have failed, and market data...
  • GOP senator: HHS answers on ObamaCare co-ops not enough

    11/19/2015 8:55:26 PM PST · by Brad from Tennessee · 5 replies
    The Hill ^ | November 19, 2015 | By Peter Sullivan
    Sen. Ben Sasse (R-Neb.) said Thursday that he is not satisfied with a new letter from the Obama administration about ObamaCare co-ops, and is continuing to block the confirmation of health-related nominees. The Nebraska senator has vowed to block confirmation of all nominees to the Department of Health and Human Services until he gets the answers he wants about the failure of ObamaCare’s co-op health plans. Twelve of the 23 co-ops — nonprofit health insurers set up under ObamaCare and meant to compete with established companies — have failed because of financial problems. Sasse has written a series of letters...
  • Did New York’s Obamacare Co-op Deliberately Mislead Regulators? (Pelosi knew)

    11/01/2015 3:38:24 AM PST · by Libloather · 7 replies
    Daily Caller ^ | 10/30/15 | Richard Pollock
    **SNIP** The statement said "a subsequent NYDFS and CMS-led review of Health Republic's finances has found that the company's financial condition is substantially worse than the company previously reported in its filings to NYDFS." The statement provided no further details on the new discoveries regarding the co-op, which received the largest single federal loan under the Obamacare health reform law. In addition to its original $265 million, the co-op received another $90 million in an emergency solvency loan funds from federal officials in September 2014. The co-op previously reported it was burning through money at a disastrous rate. Its 2014...
  • Obamacare Is A Disaster: Co-Op Insurers Across America Are Collapsing, And Now There Is Fraud

    10/31/2015 11:32:41 AM PDT · by Lorianne · 57 replies
    Zero Hedge ^ | 30 October 2015 | Tyler Durden
    Two weeks ago we reported that in what at the time was still a rather isolated incident, Colorado's largest nonprofit health insurer (aka co-op), Colorado HealthOP is abruptly shutting down, forcing 80,000 Coloradans to find a new insurer for 2016. At the time, we said that the health insurer had been decertified by the Division of Insurance as an eligible insurance company because the cooperative relied on federal support, and federal authorities announced last month they wouldn't be able to pay most of what they owed in a program designed to help health insurance co-ops get established. In other words,...
  • NO FIXING THEM: Dead enrolled in NY's health exchange

    10/29/2015 11:45:06 AM PDT · by Behind Liberal Lines · 18 replies
    Binghamton Press and Sun-Bulletin | 1:44 p.m. EDT October 29, 2015 | Joseph Spector,
    Gannett, so link only:
  • Your Health Plan Will Now Self-Destruct (10 Zerocare co-ops cancel 2016 plans)

    10/29/2015 8:06:04 AM PDT · by Olog-hai · 3 replies
    Bloomberg Businessweek | October 29, 2015 — 6:00 AM EDT | John Tozzi
    Link only:
  • Massive shortfall in government payouts to insurance companies promises big premium increases

    10/27/2015 7:50:49 AM PDT · by SeekAndFind · 13 replies
    American Thinker ^ | 10/27/2015 | Rick Moran
    The government program to reimburse insurance companies with big losses as a result of signing up too many old and sick customers is massively short of funds and could cause some companies to either go under or get out of the Obamacare exchanges. The so-called "risk corridors" that forced profitable companies to pay into a fund that would be disbursed to companies who lost money is underfunded by 88% and will almost certainly lead to big changes in premiums and consumer choice on the exchanges. Washington Examiner: Obamacare insurers requested about $2.9 billion in risk corridor payments for the...
  • Anthem Blue Cross Blue Shield cuts individual plans from health exchange in parts of Wisconsin

    10/26/2015 7:39:30 PM PDT · by Extremely Extreme Extremist · 15 replies
    WBAY.COM ^ | 19 OCTOBER 2015 | Steve Schuster
    Anthem, the Blue Cross and Blue Shield (BCBS) licensee in Wisconsin, has decided to completely pull out of the health care exchange (individual plans) market place in Milwaukee, Racine and Kenosha counties starting January. Anthem is also significantly cutting back on the number of available exchange plans in 34 Wisconsin counties, which include the Fox Valley, according to Scott Larrivee, Public Relations Director at Anthem Blue Cross and Blue Shield in Wisconsin. “Anthem individual members in these [Milwaukee, Kenosha and Racine] counties will need to select a new health insurance plan with a different company for 2016,” Larrivee said, noting...
  • Missing Money? Report questions how states spent ObamaCare funds (Pelosi knew)

    10/25/2015 4:17:06 AM PDT · by Libloather · 19 replies
    Fox News ^ | 10/25/15 | Hollie McKay
    **SNIP** About $4.6 billion was given to these 17 recipients, including California, New York, Washington state and Kentucky. But the GAO report found that so far, just $1.4 billion of that has been spent on IT projects, and a total of $3 billion has been “spent or drawn down,” though not all the spending is detailed. That, then, leaves at least $1.6 billion unaccounted for. Yet only three states returned any portion of the money – a total of just over $1 million was given back. “[T]he specific amount spent on marketplace-related projects was uncertain, as only a selected number...
  • Feds Hide Secret List Of 11 Staggering Obamacare Insurers

    10/19/2015 2:40:32 AM PDT · by markomalley · 8 replies
    Daily Caller ^ | 10/19/15 | Richard Pollock
    Federal officials have a secret list of 11 Obamacare health insurance co-ops they fear are on the verge of failure, but they refuse to disclose them to the public or to Congress, a Daily Caller News Foundation investigation has learned.Just in the last three weeks, five of the original 24 Obamacare co-ops announced plans to close, bringing the total of failures to nine barely two years after their launch with $2 billion in start-up capital from the taxpayers under the Affordable Care Act.All 24 received 15-year loans in varying amounts to offer health insurance to poor and low income customers...
  • Eight ObamaCare Co-Ops Failed; Are 11 More On The Way?

    10/20/2015 5:42:58 AM PDT · by IBD editorial writer · 8 replies
    Investor's Business Daily ^ | 10/20/2015 | John Merline
    Last week, the total number of failed ObamaCare-created insurance co-ops reached eight, as co-ops in Colorado and Oregon announced that they were closing doors at the end of the year.
  • CO-OP FLOP: The Biggest Obamacare Disaster You’ve Never Heard About

    10/18/2015 4:25:03 AM PDT · by SkyPilot · 15 replies
    The Daily Caller ^ | 16 Oct 15 | Mark Tapscott
    It’s an Obamacare story with every imaginable outrage — blatant conflicts of interest, millions of tax dollars going to political cronies, thousands of Americans left without health insurance, lavish pay for incompetent executives, federal funds diverted illegally, multiple congressional investigations, insider trading convictions and big decisions made behind closed doors. Tragically, there is even a child abuser. But search the New York Times web site for “Obamacare co-ops” and nothing comes up. Just three entries appear for the same search on the Washington Post web site. Not so, Richard Pollock of the Daily Caller News Foundation’s Investigative Group. Pollock has...
  • Obamacare's Latest Casualty: Largest Health Insurer On Colorado Exchange Abruptly Collapses

    10/16/2015 3:41:56 PM PDT · by smartyaz · 53 replies
    Zero Hedge ^ | 10/16/15 | Tyler Durden
    With the mainstream media, at least the majority that is left of center, flooded with story after story touting Obamacare's success, the news coming this morning from Denver that Colorado's largest nonprofit health insurer and participant in that state's insurance exchange Colorado HealthOP is abruptly shutting down, forcing 80,000 Coloradans to find a new insurer for 2016, was a slap in the face for the Obama administration's crowning achievement. According to AP, the health insurer announced Friday that the state Division of Insurance has de-certified it as an eligible insurance company. That's because the cooperative relied on federal support, and...
  • Two more Obamacare health insurance plans collapse

    10/16/2015 4:11:27 PM PDT · by nuconvert · 20 replies
    Washington Post ^ | Oct. 16, 2015
    Nearly a third of the innovative health insurance plans created under the Affordable Care Act will be out of business at the end of 2015, following announcements Friday that plans in Oregon and Colorado are folding. In just the past week, four co-ops, as the nonprofit plans are known, have decided or been ordered to shut down. Their demise means that eight of the 23 co-ops in existence a year ago will be unavailable to consumers shopping for 2016 coverage through insurance marketplaces created under the ACA
  • Obamacare’s Mysterious Missing Billions

    10/15/2015 7:54:03 AM PDT · by Kaslin · 53 replies ^ | October 15, 2015 | Mytheos Holt
    Obamacare, depending on who you ask in the GOP, is either a calculated Trojan Horse designed to collapse and release single payer health care upon the American public, a flawed piece of legislation that needs badly to be revised, or the greatest evil inflicted on the American public since slavery. But what if it was something far simpler: namely, free money for Democrats? A recent report by the Government Accountability Office (GAO) to congressional requesters provided to this author suggests that this explanation may, in fact, be the correct one. Buried in the document’s appendices is a stunning statistic. Out...
  • ObamaCare exchanges collapsing, enrollment plummeting

    10/14/2015 7:14:24 AM PDT · by Sean_Anthony · 17 replies
    Canada Free Press ^ | 10/14/15 | Dan Calabrese
    Four exchanges insolvent, 11 receive warning letters . . . and nearly 2 million enrollees aren't paying their subsidized premiums Gosh, who saw this coming? The federal government sets up an artificial market for selling health insurance, sets the prices, subsidizes the premiums, goads people to buy who’ve never before been able to afford it, forbids profits and bans anyone who actually knows what they’re doing from running the darn things. How could that possibly fail? Quite spectacularly as it turns out. While the mainstream media ignores all of the following, lest it stumble in its role as Democrat campaign...
  • Obama Lied, My Health Plan Died ... Twice!

    10/14/2015 4:28:58 AM PDT · by Kaslin · 13 replies ^ | October 14, 2015 | Michelle Malkin
    It's deja screwed all over again. In the fall of 2013, our family received notice from Anthem Blue Cross Blue Shield of Colorado that we could no longer keep our private health insurance plan because of "changes from health care reform (also called the Affordable Care Act or ACA)."We liked our high-deductible preferred provider organization plan that allowed us to choose from a wide range of doctors. But Obamacare wouldn't let us keep it. Reluctantly, and after great bureaucratic difficulty, my hubby and I enrolled in an individual market plan with Rocky Mountain Health, which offered a much narrower provider...
  • Kentucky Health Cooperative going out of business; 51,000 insurance customers affected

    10/10/2015 8:35:04 AM PDT · by Republican Wildcat · 12 replies
    Lexington Herald-Leader ^ | 10/9/2015 | JACK BRAMMER
    FRANKFORT — The largest private provider of health insurance policies on Kynect, Kentucky's health insurance exchange, is going out of business. The Louisville-based Kentucky Health Cooperative Inc. announced Friday that it will end current memberships on Dec. 31 and will not add new members because of financial problems. It will not offer health insurance plans on Kynect when open enrollment for 2016 coverage starts on Nov. 1. The cooperative has about 51,000 members in all 120 Kentucky counties. ... Jonathan Gold, press secretary for the U.S. Department of Health and Human Services, said in an email that the federal government...
  • Obamacare´s Blue State Money Laundry

    09/14/2015 9:25:18 AM PDT · by rootin tootin · 6 replies
    American Spectator ^ | 9/14/2015 | David Catron
    When Maryland’s Attorney General announced last summer that his office had negotiated a settlement whereby $45 million would be recouped from the IT contractor that botched the state’s Obamacare exchange, it was widely reported as good news for taxpayers. It appeared that their investment in the mismanaged project would not be a dead loss. But the AG’s statement included this curious passage: “The agreement… will lead to the recovery of funds for both Maryland and the federal Centers for Medicare and Medicaid Services [CMS].” What’s so odd about that? Well, the state didn’t contribute any money to the project. All...