Posted on 11/19/2015 1:01:07 PM PST by AngelesCrestHighway
In a profit warning that sent its stock down as much as 7% Thursday, UnitedHealth Group Inc. said that not enough people are signing up under the exchanges set up by Obamacare and that it was considering withdrawing from them. But there was another factor behind the lowered outlook from the nation’s biggest health insurer: people signing up after the open-enrollment period that have higher claims. Or, less charitably—people are gaming Obamacare. In UnitedHealth’s UNH, -5.44% words: “We have identified higher levels of individuals coming in and out of the exchange system to use medical services.†This isn’t supposed to happen. There are so-called special enrollment periods, meant to be 60 days following certain life events—marriage, birth of a child, or a loss of health coverage. Other special periods include moving, gaining citizenship, gaining or losing a dependent, having a change in income or household status that impacts eligibility for tax credits or cost-sharing reductions, and leaving jail. A spokesman for UnitedHealth acknowledged the issue but didn’t provide more details on how this was occurring or what medical services these out-of-enrollment users sought. The Affordable Care Act, better known by its moniker Obamacare, has been under pressure over the lower-than-expected enrollment levels, and climbing premiums. But UnitedHealth is the first major insurer to say it would give up on the program altogether.
(Excerpt) Read more at marketwatch.com ...
Well, to prevent these “aren’t supposed to happen” things; the obvious solution is to create a new agency that is responsible for makign sure it doesn’t happen, and toss more money at it!
later
Gee - ya mean people who didn’t think they needed insurance suddenly developed serious illness and signed on because those with pre-existing conditions could not longer be turned down? - who could have seen that coming??????......
The whole USA has been gamed the last 7 years.
my copayment now is basically 5 dollars less than what doctors usually bill me. that’s just great.
The minute the little turd planted his community organizing butt in the White House!
Somebodies got to foot the bill for the entitlement junkies... /s
If they eliminated the “must cover” for pre-existing conditions, people would sign up for coverage. To think that the average American is as stupid as Pelosi and her bill writers is underestimating the average American.
United Health doesn’t want to be part of the Death Panels anymore?
The payoffs not high enough?
How about this: unbridled COMPETITION for the consumer’s dollars? Get rid of the subsidies AND regulations.
Oh, wait, that would violate Obama’s hatred of free market CAPITALISM.
“The whole USA has been gamed the last 7 years.”
No, not the last 7 years, the last 26 years is more like it.
Papa Bush, the Toon, Baby Bush and the Won. All liberal in
their own way and all for the forward advancement of a
socialist America.
“You have to pass it to see what’s in it”
At least you found a dr that would accept Ocare.
My brother and his wife, who live in a metropolitan area, had a heck of a time finding someone that would.
Pre-X will be the last hill to fight on. That is killing the insurance companies. I kind of see both sides. But, imho, if people had coverage but lost it do to job loss, etc. need coverage, they should be able to get it. People that have disdain for insurance, but decide they need it when they get sick and THEN SIGN UP...I view differently.
No way!
i have United Health PPO
easy to get a doctor, hard to keep finding 45 dollars lol
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