Posted on 04/19/2016 7:56:10 AM PDT by xzins
UnitedHealth, the nation's biggest health insurer, will cut its participation in public health insurance exchanges to only a handful of states next year after expanding to nearly three dozen for this year.
CEO Stephen Hemsley said Tuesday that the company expects losses from its exchange business to total more than $1 billion for this year and last. He added that the company cannot continue to broadly serve the market created by the Affordable Care Act's coverage expansion due partly to the higher risk that comes with its customers.
UnitedHealth Group Inc. said it now expects to lose $650 million this year on its exchange business, up from its previous projection for $525 million. The insurer lost $475 million in 2015, a spokesman said.
UnitedHealth has already decided to pull out of Arkansas, Georgia and Michigan in 2017,
(Excerpt) Read more at hosted.ap.org ...
“Now they’ll say that single payer is the only way to fix it.”
It is on the ballot here in Colorado this Fall. That could be a bellwether for the rest of the country.
I don’t know how they are losing money. The vast chunk of people are paying huge premiums and never using one dollar of their money with massive deductibles.
I’m waiting for Obama to take out his pen and MANDATE that they stay or lose their licenses to do business anywhere
If you like your plan, you can keep your plan.
All the illegals are getting freebies.
Next year’s ‘fine’ will be even larger. It gets larger each year until you either leave, surrender or DIE............................
They call it 'Your Fair Share' in the 1040 instructions...........what a joke.........................
all pre-planned on the road to a single payer system
Red, what are we to expect when organized criminals, DC lawyers, bureaucrats, and Obamas Muslims strip away our right to personal healthcare? I paid just shy of 90k in income taxes this year. I had to pay an additional 42k to the Feds. And to think, 47% of adults pay no income tax, yet they harvest 90% of the benefits.
Half the population doesn’t pay a dime, that’s how.
That was the plan all along . . . so they can replace it with single payer. Of course, the drones in the insurance companies which backed it are counting on an equally or better paying position in a new government bureaucracy with minimal performance requirements.
I think they were hoping for a ‘public utility’ like relationship with the government.
“”I just sent to the IRS over $12,000 in Obamacare fines, in addition to the nearly $10,000 I paid in insurance premiums during the year. How in hell do they go belly up?””
Pardon me for not understanding but why do you have fines if you also had insurance? I’m sure the answer is going to be simple and I’m going to be sorry I asked but I’ll take the flak.
“”The vast chunk of people are paying huge premiums and never using one dollar of their money with massive deductibles.””
That is the horror story that I hear. Our daughter and SIL don’t get to submit claims until just short of the year end...
Land of the FEE and home of the CRAVE..............................
Wow, they couldn’t see this coming? Profits are obviously not that important to management. Either that or they are incompetent. If I owned any of their stock I would get out quick in any case.
>Now they’ll say that single payer is the only way to fix it.
And the (R)\NC won’t have a voice of opposition, no plan, no point on WHY that shouldn’t be so.
Constitution? They haven’t upheld that for EVER.
A1S8? That’s what the Commerce Clause is for...
5th/13th? SH!T, that’d bring the WHOLE house of cards down around their ears.
“Amazing what a little competition can do...”
If we can outsource our healthcare to Foxconn, it’ll be downright cheap.
I was unaware that Rubio ever did anything but a “ blind hog finds an acorn every once in while”. This is the reason the entire program is in a death spiral. http://hotair.com/archives/2015/11/25/did-rubio-deal-a-mortal-blow-to-obamacare/
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