Posted on 04/03/2014 7:02:34 AM PDT by Mount Athos
As the first Obamacare enrollment period comes to a close, U.S. insurers are already anticipating the need to raise prices for 2015 and fear that it will put them at the center of the political blame game over President Barack Obama's healthcare law. [...]
Insurers have already said that the first group of new enrollees under Obamacare, as the law is widely known, represent a higher rate of older and costlier members than hoped. To keep their health plans from losing money in the coming years, many expect monthly premium rates to rise by double-digit percentages in some parts of the country. [...]
U.S. Senator Marco Rubio, a prominent Republican critic of Obamacare, said the skew of enrollment towards older consumers who are more likely to be sick is one of the program's fundamental flaws and proof it should be changed or even repealed.
While he said insurers may have no choice but to raise prices to prevent major losses, he opposes provisions in the law that provides funding to the industry in the next few years to offset such risks.
"I think what they should be more concerned about is that once the exchanges fail and once this happens, that the argument that might come from the administration would be 'well, the reason this is happening is the greedy insurance companies want to make more money' as opposed to these companies are simply pricing out what it is they are getting,"
"I would say to you that many of these companies were willing participants in all of this. Many of them supported the law, thinking it was going to force more customers in their direction. It's not turning out the way they planned," he added. "I'm not sure that taxpayers should be involved in paying for it."
(Excerpt) Read more at news.yahoo.com ...
There: fixed it for you Marco, my boy.
Its more likely to lead to the rapid demise of private health insurance than to a revival of it.
After backing Obamacare, I have no sympathy whatsoever for the insurance industry. Its going to come back to kill them.
The people letting government get away with this without protesters camping out at the White House is an indication of the newest generations being less intelligent than those that came before it, or at least lacking rudimentary common sense along with their lack of shame.
Damn math taking over again... All just part of the plan. Single payer is their next step.
After backing Obamacare, I have no sympathy whatsoever for the insurance industry.
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^^^^^ THIS ^^^^^
The sold their souls and now they don’t like the terms. Too bad.
The problem isn't just going to be when people get increased health insurance bills. Weather has had an impact of auto and home insurance. What's left of the middle class is going to be squeezed even more when all of their insurance bills increase. The money to pay for that has to impact other spending. It's hard to imagine what percentage of people's income is gone to technology and insurance before they even begin other spending.
My version of backlash: Health care is not really all that expensive, but health insurance is so expensive it’s no longer worth it. I’m “self insured”.
I’m trying to feel sorry for “Big Insurance”, but I just can’t.
You all went along with this Dog and Pony show a few years ago. Now you need to feel the consequences. The sad thing for you guys is the State Controlled media will not blame Obama and the Rats accordingly as well. Still, you bought into this -hit sandwich. Now eat it!
The insurers got into bed with Obama, and surprise, surprise, they’re going to get screwed!
Relax you brilliant folks running the health insurance companies. Let me spell it out for you. Once the obamacare mandates start kicking in, and people actually feel the pain, the insurance companies will have outlived their usefulness. Single payer will be implemented and health insurance companies will be as important as wooden wagon wheel manufacturers.
I suspect the very upper echelon of management in health insurance companies has already paved the way for a nice landing zone somewhere in government. The rest of the employees in the health insurance business? They get to find new work, but at least they’ll have obamacare.
They did sell out to Obama. I bet that didn’t come easy and I am sure we do not know HOW or WHAT pressure was put on them.
Thing is, either way they are going to lose. I bet they will never see the bailout. Why? Because they are going to get all the blame and people will be opposed to a bailout.
All according to plan. The Risk Corridor was a scam. Par for the course from the O regime.
That was the plan all along and screw Big Insurance for supporting it.
Still, true to form, he has to cover the yellow stripe down his back with a line like this: "I'm not sure taxpayers should be involved in paying for this."
What?? When will he and so many others like him finally act like a damn man (we have more Republican women who are willing to act thusly, so it seems) and say what needs to be said in a case like this: "THE TAXPAYERS SHOULD NOT AND WILL NOT BE FORCED TO PAY FOR THIS DISASTER."
How cowardly and how tone-deaf almost all of them are. Republicans will flock to the candidate who bravely and ably speaks the truth.
Obama better speed up his victory lap because there is a steamroller following that’s going to catch up with him
I can imagine the pressure this administration placed on the Insurance companies.
Let’s be honest about some facts: These companies were pressured to accept a ratio of 85% to 15%, meaning that 85% of all receipts had to be paid out in claims. Only 15% was allocated for overhead. Knowing the Industry, that is a very small part to pay for salaries, rent, taxes computer programs, etc.
The Insurance companies were really being told: Either you go bankrupt now or keep hanging around for a few more years. Guess what option they took? The same one we would have chosen.
Screw the job losses, after all it is for social justice, never mind those employees.
Obama and insurance companies were in bed with eachother from the start. The insurance companies know they are doomed because this obamacare WILL lead to single payer government run healthcare. They want their share of the pie. This is Obamas favorite brand of fascism. He allows the companies to operate in name only so he can blame them for the failures of his regulations. In exchange they can blame regulations, they supported, for higher costs and failed service.
It won't be just the Republicans who would be won over by someone who has a clear message. Everyone in the non-criminal class is suffering because of the pro-corporate RINO sellouts working with dems to combine power and profit for themselves. There's a majority to be had, but it doesn't help constitutional conservatives to associate with backstabbing RINOs.
That’s the whole point, guys.
YOU were the ones that made the deal with the fascists.
In fascism, there is a “partnership” between the government and private business. However, only one partner has the legal use of force behind it, and the other partner is there to take the blame for failures.
Guess who you are!
Mitch McConnell gutted Rubio’s Risk Corridor bill.
Now instead of “No Insurance Company Bailouts” the bill says “Insurance Company Bailouts must be revenue neutral”.
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