Posted on 11/08/2015 5:45:35 AM PST by Timber Rattler
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."
(Excerpt) Read more at forbes.com ...
Will the last Obamacare health exchange to go under, please turn out the lights?
""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.
What you see here is a nice bone passed to Obama about startup problems and volatility. If I was an insurance Company CEO I wouldn't be too worried about that and I'm sure they are not. But the unusually high morbidity of customers is what keeps Insurance Company CEOs awake at night. That problem was built into Obamacare and it will only go away when we kill Obamacare dead-dead-dead.
what I find truly amazing this year is the strategy of United Health Care/AARP. They have apparently ceased offering or at least not pushing the Medicare Advantage plans that were their standard.
Instead, they are pushing Medicare Type 2 supplemental policies. Something truly remarkable occurred for that to come about.
I had United Advantage and was very satisfied. I had to drop it for Humana advantage because my doctor’s medical group refused to accept United patients. He told me that United didn’t pay their bills
In plain English
Profits are nonexistent because this is a screwed up mess serving hundreds of thousands of people who think their healthcare should be free
Or in even more abbreviated verbiage
Because obama!
Was Humana (and its executives) one of the ObamaCare pushers and cheerleaders in 2009 - 10, thinking they would get the gubermint ‘bail out’?
People are on to it now and are dropping out...if the insurance companies would go ‘competitive’ we would have good health insurance, but now they have tasted the ‘goods’ they won't go back unless the people demand it...
I wouldn't pay the high rates of obumacare, I would plead poverty before being ripped off...
Interesting. Seven or eight years ago I was at an alumni event for my college. I was seated next to a gastro-enterologist, a mild-mannered black lady. Since I was going to have to change insurers (my COBRA period was running out), I asked her, from her viewpoint, which insurers she'd recommend or avoid.
She said they were all difficult, and becoming increasingly so. Doctor courtesy, where doctors would no-bill each other because they were in the same brotherhood, had become a thing of the past.
The standout in her comment, though, was United. She said they were by far the most difficult for doctors to work with. She smiled and said, she wished she could get United in her office for an exam... good and hard.
And when the last one closes, the Democrats will save the day with single payer.
I have been looking at Samaritan Ministries health care plan as an alternative. The reviews are good for the most part. The thing that turns me off is that lack of privacy. Your name and procedures are put out there for other people to see.
Yeah, I saw that too and immediately thought “illegal aliens.”
Which one will go Bye Bye First Obama or Obamacare ?
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