Posted on 11/19/2015 9:32:13 PM PST by JSDude1
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 going to freak over the noticeably reduced earnings this quarter. Guess how the market reacted anyway?
As you can see; not very well. UHC didn’t really fully join in on the exchanges when they were set up in the first place: they gingerly set up a few test markets in 2014 and then expanded in 2015. And now the company apparently has realized that the pool that they jumped into is in fact made out of acid and flesh-eating bacteria (work with me, here); so even the idea of them running, screaming, from that pool would obviously make investors in the other, smaller companies highly nervous. If the biggest players can’t make the system work, what happens to the players who are more locked into that system?
(Excerpt) Read more at redstate.com ...
Obama is laughing his ass off. He’ll be gone in a year and somebody else is going to have to clean up his mess.
Guaranteed profits in exchange for “cooperating” with the government as a “partner”.
What could go wrong?
UHC has actuaries who knew Obamacare was a financial train wreck. They were not Grubered. Their bet was that government mandates would kill their smaller competitors. Their marketshare game failed, as Obamacare was destined to fail, and now UHC is on the path to shutdown as single payer is just around the corner.
Crony socialism leads to outright Marxism.
UHC <=> AARP iirc.
“UHC <=> AARP iirc.”
Couldn’t happen to a “nicer” couple.
Worst President in the history of this country. Carter no longer has that distinction.
Who is John Galt?
Regards,
The deal on (N)AFA plans is that a credit is given if your income is between 1.33x and 4x the poverty level. However, once your income is outside of those levels -- BAM -- you loose ALL your subsidy. You can only change plans Nov 1 - Jan 31 and during a "life event". So if your income goes up or down you'll be clobbered with a TOTAL LOSS of the subsidiary. How can you project that witg total accuracy. It's a TOTAL DISINCENTIVE to work hard, smart, and productively.
We switched to a Christian-based share plan that is allowed by the Act and will save us thousands of dollars. Send a private message if you want more info.
Read Leonard Peikoff’s 80’s speech, “Medicine: the Death of a Profession.”. He and Ayn Rand were outspokem critics of Medicare in the 60’s. They said it would lead to socialized medicine and it slowly has. The Obama plan was a deliberate mess because the statists couldn’t push a full government takeover on Americans. They simply are waiting for people to demand an end to “evil” insurance companies so the IRS (who runs the medical system now) can takeover.
All is going according to plan, F Up healthcare so badly that people will be for Single-Payer, even conservatives.
Thing is - it's not really a subsidy. It's Uncle Sam paying you some of your money back for subsidizing desperately sick people. If Uncle Sam doesn't pay you back, you are in fact bearing the full cost of subsidizing those people. Obamacare is essentially a welfare program where people who can't afford to subsidize the sick end up subsidizing the sick. What it really should have done (to pay for subsidies to the sick) is increase earned income, interest, dividend and capital gains taxes to 50% for people earning $10m or more (thereby wiping the smug grin off Warren Buffett's face), instead of punishing healthy but not wealthy people who can't afford to buy health insurance. But that would have pissed off the Democratic Party's wealthy backers.
Designed... I bet he laughs all the way to the bank. Every company knows obamacare goes into full effect in 2016. Exempt congress knows too.
A friendly fella who we should become better acquainted with.
Delighted to see someone making use of the medical sharing ministries. Glad to hear that it seems to be working for you.
Stockholders are unreasonable like that--We don't like seeing our investment mismanaged or our money pissed away.
You are correct. It's actually a wealth distribution scheme that STEALS income from honorable mostly white workers to gives it dishonorable mostly colored deadbeats. It's purpose is the economic weakening of America, which BO and his ilk don't care how it happens.
The medical center that my family goes to, which is big and has lots of doctors and specialists, no longer accept BC/BS HMO Blue Texas or BC/BS Medicare Advantage Plans. They sent a letter that states if you have an appointment with them after Jan. 1 and you are on one of those plans, your appointment is canceled. My insurance (a PPO) has changed, as well. Co-pays are much higher and they are more inclined to refuse to pay for certain things, which has never happened before.
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