Posted on 03/02/2016 4:13:13 AM PST by IBD editorial writer
Health Care: The insurance industry must be kicking itself for backing ObamaCare. Several have since posted big losses and it looks like Blue Cross Blue Shield got the losing end of the stick, too.
(Excerpt) Read more at investors.com ...
bump
Amazing they can lose money when their premiums are high and they don’t cover anything.
No kidding, just two years ago I didn’t have a massive deductible and never paid for anything out of pocket (dual insured: one would cover what the other didn’t). The last year and a half has been a painful experience compared to all previous years.
BCBS sucks!
They are doing OK on the members who actually pay for coverage. As we all know, under Obamacare not everyone pays.
Trying, really trying, but can’t work up a tear for the Health Insurance companies.
Other than all the pre-existing conditions which they are now mandated to cover at the last minute.
So Joe Schlub can go uninsured, break their leg, and then sign up for insurance just in time for treatment.
The “geniuses” that run these big health insurance concerns that threw in with Obama need to be tarred, feathered, and run out of town on a rail, at a minimum.
For publicly traded companies, such as United Healthcare, shareholders should be in open revolt, calling for the heads of the Board of Directors as well as the CEO’s.
I suspect they had no choice but to back it and try to make the best of it. If the insurance companies balked, then Nancy would have gone straight to single payer. Everyone was banking on the courts to stop it. Looks like Roberts got them too.
6 weeks ago I got a new store bought knee installed on my left knee.
Two years ago I had the right one replaced.
Both cost about $140,000.
I also had nasal reconstructive surgery to the tune of $60,000 last year.
Not to mention my usual doctoro check ups I figure I am in to Blue Cross for about $360,000 in the last two years.
I am all fixed up so it is time to quit blue cross and get some low cost obammy care nonsense.
Insurance companies do not lose money, at least not for long. Their customers get their premiums raised, that’s all.
Obamacare is effectively a very expensive and very inefficient tax.
It is astounding that anyone could give a rat’s behind about insurance companies. They should not even exist.
“For publicly traded companies, such as United Healthcare, shareholders should be in open revolt, calling for the heads of the Board of Directors as well as the CEO’s.”
For all we know, they were given a choice to play ball - or else.
Excuse me for laughing but you knew,...
Hey, I thought BCBS of Michigan was a non-profit organization.
“Doctors protest Highmark payment cuts spurred by Obamacare losses”...
http://www.freerepublic.com/focus/f-news/3401789/posts
Yeah, but Big Pharma made out big and will do better in the near future, when a few more elements kick in, such as the ‘Take The Pill The Doctor Told You To Take Or You Will Be Fined’ rule.
“Obamacare is effectively a very expensive and very inefficient tax.”
Just what Justice John Roberts said it was when he “approved of that message.”
I’m new to bcbs Medicare this year and for the life of me cannot figure out their drug coverage. I just paid 130 bucks for an ounce of cortisone salve. It was around 12 bucks before I had Medicare, I had an individual policy with them. That had a 5000 dollar deductible.
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