Vanity: Obamacare "Neutron Bombs" Omaha Insurance Company (Mutual of Omaha)

Kolath | 4/12/13 | Kolath

[Kolath]

Mutual of Omaha, know by the business world for its MedSup, life insurance, disability coverage, banking and "Mutual of Omaha's Wild Kingdom" series took a major hit last Monday when it's Blair, NE facility downsized. Estimates from employees indicate a 25%-30% downsize. The effects were noticeable the following day by the empty parking stalls.

Mutual's Blair facility handles the company's incoming mail, medical claim forms, archival storage and backup bank processing.

Obamacare appears to be the main culprit as the health care law is effecting Mutual's business operations and customer base. Work flow had noticeably decreased since the start of the year and shows no signs of improvement.

On a side note, workers are noticing an influx of temps (starting in January) which have noticeably increased after Monday's layoffs. There are fears of another round of layoffs in the near future.

[Kolath]

This is an inside report from my friends who work in the company.

[Texas Fossil]

They are my medical healthcare supplement company. My family has used them for many years, a good company.

Thanks for the info.

[rarestia]

More cases of this will come out through the year. January is truly going to be “the end.” I think the Feds know this.

[Grams A]

One of my best friends told me about Mutual’s problems and is concerned because he has had a substantial whole life policy with them for a number of years and is wondering if maybe he should just end it and take the accumulated cash value.

I don’t know enough about it to even comment - suggestions?

[Kolath]

From what I’ve heard, the life department is fine....it’s one of their strongest depts.

[Intolerant in NJ]

Wow, and Obama estimated it would take maybe twenty years to put the insurance companies out of business.....

[Lurker]

That’s because Whole Life policies are designed to be the most profitable of all life insurance plans. Whole Life policies are for suckers.

[reformedliberal]

Our Universal Whole Life company has been sold several times. I believe that is what happens since we are dealing with investments in Whole Life. Same thing has happened with a non-investment form of Whole Life policy with a different company.

We simply received a notice of new ownership and the policies stay the same.

We investigated cashing out, but at 5%, this is our best investment vehicle at the moment. We can also borrow from ourselves at 8% w/o affecting the death benefit.

[Sirius Lee]

Aetna and Cigna did, and are still in the same process of, laying people off and bringing in temps and H1Bs. You might have heard some kerfluffle last week about the "need" to raise the H1B limit or else America won't be able to attract these high skilled workers.

The truth is, the H1Bs are not PHDs in computer science, but rather low level workers with the equivalent of an associates which the major corporations are bringing in, not to "automate", but simply to take over the manual processes of the Americans these companies are firing. Aetna doesn't need to provide its own healthcare coverage to a temp after all. A little ironic, that.

And thanks to obamneycare, the companies are taking these actions. It's that or go bankrupt.

P.S. all of your healthcare premiums are going to go WAY up in 2014. All the healthcare exchange fees and other requirements that are raising the costs of business such as having to pay for contraception and the company just has to eat the cost, are being passed along to you.

[Grams A]

I will pass the info on and also ask if he has received anything from anyone in the mail. He’s not very organized and is easily overwhelmed. Thanks so much for your response.