Skip to comments.HealthNet says quarterly membership in Obamacare plans declined
Posted on 02/25/2016 11:17:40 AM PST by Oldeconomybuyer
Insurer Health Net Inc said it lost members in its individual business that sells plans under Obamacare, echoing thoughts of larger rivals in the sector.
Many insurers have been losing money on the plans, in part because total enrollment has been sharply lower than initially anticipated and due to higher-than-expected patient costs. In November, UnitedHealth Group Inc said it may completely exit the Obamacare business.
Humana Inc said in January that it had set aside 74 cents per share in the fourth quarter to cover anticipated shortfalls in its 2016 individual health plan business, while Anthem Inc said the plans had weighed on its results.
California-based HealthNet's individual enrollment fell 6.6 percent from last year, as fewer members bought plans, especially in Arizona and the Northwest.
(Excerpt) Read more at reuters.com ...
As a self-employed person whose wife does not receive health care through her work, I pay an absolutely staggering health insurance premium each month for a high deductible plan. How staggering? Let’s just say that it’s roughly comparable to what I pay each month for the mortgage on the house.
Despite that, the last thing I want is to be herded on to the 0bamacare insurance exchange collective farm. I’ll pay extra to avoid that horror show.
Insurance companies lose and people lose by getting skyrocket priced insurance or skyrocket fines due to Democrats.
I think Obamacare is largely responsible for the economy being in the doldrums. I’m self-employed. My health insurance went from $450 a month to $650 a month with the implementation of Obamacare (and now it’s $750/mo). That was $200/month less I had to spend. Take away people’s spending money and lots of segments of the economy are going to suffer.
Something has to be done about the high deductibles.
I think drug coverage should be separated out.
Hospitals should be encouraged to just insure for care, which they could easily do if drug coverage was made separate.
People like me, a low income person in Florida, shouldn’t be left with no long-term affordable coverage option.
I paid $57.21/month for COBRA continuation coverage in 1987.
I left a job in 2002 and paid $650 per month in COBRA. I thought it was outrageous then. I pay multiples of that now.
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