Posted on 11/07/2015 11:50:18 AM PST by SeekAndFind
The misbegotten mess known as the Patient Deflection and Unaffordable Care Act is really starting to collapse:
Humana said it will discontinue several products offered on government-run exchanges under the Affordable Care Act, impacting about 100,000 individuals currently covered by the insurer's plans across the country. The move, disclosed this morning in the company's third-quarter earnings report, comes due to higher-than expected medical costs from sick newly insured patients covered under the health law.
"Operating results for the company's individual commercial medical business continue to be challenged primarily due to the volatility related to the start of the healthcare exchange program created under the Affordable Care Act as well as the morbidity of membership served under this relatively new program," Humana said in a statement this morning.
The plans Humana will discontinue had "product designs which attracted a higher-utilizing member base than was assumed when the 2015 plan offerings were priced," the company said but didn't specify the kind of plans that will be pulled. "The transitory nature of the population served has also contributed to use of emergency room services and non-participating providers above priced-for levels."
As was pointed out early and often, by covering people with pre-existing conditions, Obamacare destroyed the whole point of insurance and turned it into another form of welfare. Its end cannot come too soon — but one suspects that was all part of the plan to force single-payer “healthcare” down our throats.
Here we go again...
DRINK!
Will Obama hand out some white Lab coats and make a speech in the Rose Garden ?
Cruz gets no credit for trying to stop the funding of obamacare.
Humana’s a pretty big deal. This could be hugh and series.
Oops. Sorry Humana. Had Obamacare’s regs not damn near killed me earlier this year with idiocy, you’d be a couple mill richer today. Blame Barry’s insistence on interfering with doctor’s orders.
Really? Really, really? Or really, really, really?
It won't be dead until the legislation is repealed.
0bamacare must fail before the government can take over the whole healthcare system under single payer.
Humana just merged with Aetna.
One can bet this is house-cleaning to make their financial picture look better to stockholders.
It won’t collapse as long as it is in place. Not a peep out of the GOP, though.
Exactly. Crickets from GOPee.
Not crickets. The GOP proved its overwhelming opposition to Obamacare last week........by funding it for the next two years.
What?
He spent twenty plus hours on the senate floor telling them and the world to stop funding obamacare or this would happen
And people say the GOP is silent. The GOP is silent but Cruz is not
It is all part of the Plan. They will claim that Single Payer is the only way to salvage this mess.
Ultimately, they will up everyone on some Medicaid like system. Doctors will be virtual slaves.
It's pretty clear the donor base (i.e. chamber of cronies) has instructed the GOP leadership to allow single payer to take over health care.
Asking the GOP to be an actual opposition party is simply a case of unreasonably high expectations.
As a party, the GOP must temper such expectations.
Obamacare must fail before the government can take over the whole healthcare system under single payer.
And the Press will eat it up.
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