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ObamaCare Now Has Blue Cross Singing The Blues
Investor's Busienss Daily ^ | 3/1/2016 | Staff

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 ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: 0carenightmare; bcbs; obamacare; obamacareinsurers
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1 posted on 03/02/2016 4:13:14 AM PST by IBD editorial writer
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To: IBD editorial writer

bump


2 posted on 03/02/2016 4:17:07 AM PST by foreverfree
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To: foreverfree

Amazing they can lose money when their premiums are high and they don’t cover anything.


3 posted on 03/02/2016 4:20:39 AM PST by IC Ken
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To: IC Ken

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!


4 posted on 03/02/2016 4:24:12 AM PST by jurroppi1 (The only thing you "pass to see what's in it" is a stool sample. h/t MrB)
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To: IC Ken
Amazing they can lose money when their premiums are high and they don’t cover anything.

They are doing OK on the members who actually pay for coverage. As we all know, under Obamacare not everyone pays.

5 posted on 03/02/2016 4:27:12 AM PST by Senator_Blutarski
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To: IBD editorial writer
"Blue Cross Blue Shield of Michigan lost $622 million from January through September last year. Blue Cross plans in Texas, Oklahoma, New Mexico and Montana lost $442 billion. And those in Pennsylvania, Delaware and West Virginia lost $266 million." YIKES!
6 posted on 03/02/2016 4:28:30 AM PST by Thom Pain (If you like your country you can keep it. Period. REPEAL 17 !!)
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To: IBD editorial writer

Trying, really trying, but can’t work up a tear for the Health Insurance companies.


7 posted on 03/02/2016 4:33:26 AM PST by Wolfie
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To: IC Ken

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.


8 posted on 03/02/2016 4:34:34 AM PST by drbuzzard (All animals are created equal, but some are more equal than others.)
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To: Thom Pain

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.


9 posted on 03/02/2016 4:34:52 AM PST by Arm_Bears (Rope. Tree. Politician/Journalist. Some assembly required.)
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To: IBD editorial writer

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.


10 posted on 03/02/2016 4:35:41 AM PST by NonValueAdded (Buchanan: A note of caution: This establishment is not going quietly.)
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To: IBD editorial writer

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.


11 posted on 03/02/2016 4:41:23 AM PST by Joe Boucher
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To: IC Ken

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.


12 posted on 03/02/2016 4:43:24 AM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day".)
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To: Wolfie

It is astounding that anyone could give a rat’s behind about insurance companies. They should not even exist.


13 posted on 03/02/2016 4:44:43 AM PST by sakic
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To: Arm_Bears

“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.


14 posted on 03/02/2016 4:44:43 AM PST by The Antiyuppie ("When small men cast long shadows, then it is very late in the day".)
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To: IBD editorial writer

Excuse me for laughing but you knew,...


15 posted on 03/02/2016 4:45:10 AM PST by SandRat (Duty - Honor - Country! What else needs said?)
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To: Thom Pain

Hey, I thought BCBS of Michigan was a non-profit organization.


16 posted on 03/02/2016 4:49:42 AM PST by equaviator (There's nothing like the universe to bring you down to earth.)
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To: IBD editorial writer

“Doctors protest Highmark payment cuts spurred by Obamacare losses”...

http://www.freerepublic.com/focus/f-news/3401789/posts


17 posted on 03/02/2016 4:51:22 AM PST by Carriage Hill
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To: IBD editorial writer

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.


18 posted on 03/02/2016 4:52:47 AM PST by ArtDodger
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To: The Antiyuppie

“Obamacare is effectively a very expensive and very inefficient tax.”

Just what Justice John Roberts said it was when he “approved of that message.”


19 posted on 03/02/2016 5:06:27 AM PST by ought-six (Multiculturalism is national suicide, and political correctness is the cyanide capsule.)
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To: ArtDodger

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.


20 posted on 03/02/2016 5:08:49 AM PST by lilypad
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