Posted on 11/02/2016 10:46:49 AM PDT by Oldeconomybuyer
The last of the major American health insurers to have a big presence in the Obamacare marketplaces for 2017 warned Wednesday that it may not remain there for long if business doesn't improve.
Anthem CEO Joseph Swedish, calling sales of Obamacare plans "disappointing" since 2013, said "Clearly, 2017 is a critical year as we continue to assess the long-term viability" of the insurer's presence on Affordable Care Act marketplaces.
If it does scale back its Obamacare business, Anthem, which sells plans on ACA exchanges in 14 states, would join other big U.S. insurers — United Health Group, Aetna and Humana — that are largely exiting those marketplaces. Those other companies have booked big losses on their Obamacare plans.
Swedish said Anthem believes "both the pricing and regulatory environment needs to be improved to drive towards a sustainable and affordable marketplace over the long term."
(Excerpt) Read more at cnbc.com ...
If they get taxpayer coverage of their losses, why are they leaving?
Would think they could “make it up in volume” with big “losses” that gets reimbursed. That’s the business model they were buying into...
“If they get taxpayer coverage of their losses, why are they leaving?”
Very good question.
Because there are not enough young people signing up. Too many sick vs healthy
That’s called the “risk corridor” which Rubio shut down by an Amendment to the original ACA. It was an Obama scam where “profitable” insurers would subsidize the “unprofitable” ones.
Problem is they are ALL losing money hand over fist.
“Problem is they are ALL losing money hand over fist.”
They’re losing money? We have Anthem and our premiums are going up 35% next year. Scratch that...we won’t be paying it. Why should we pay them $1500 a month and still not get anything paid for?
A friend who is on the exchange with Anthem said her premium is going to double.
So yeah, I guess they will be going out of business just like Obama planned.
In my neck of the woods, this sorta thing is called extortion. And it’s illegal.
“Would think they could “make it up in volume” with big “losses” that gets reimbursed. “
That is “The Mad Man Muntz Theory of Sales!” Muntz used to sell TVs with the ad saying he lost money on every unit but made it up in volume! Funny, there haven’t been any Muntz TVs around for forty or more years.
btt
Humana lost the Military contract at the Tricare Prime, Life level, in 2014 a pilot program of Tricare Life was DOD MANDATED that all Tricare Life retirees use Military base pharmacy or FRAUD prone Express Scripts for their daily meds. In 2015 we were DOD MANDATED to use only the 2 or pay full retail on daily meds. Don’t know if the still handle the CHAMPUS part like they use to.
ER scripts or 1 time fill were exempt, hurt a lot of local small family pharmacies. If you fill daily meds at the Base your refills have to be called in to for our area Pensacola, 5 days early. Pick up at base.
ES (NEVER GIVE THEM YOUR CREDIT CARD OR AUTO DRAFT ON YOUR BANK) is mail order, 1 month to get a script filled, 2 weeks refills. Just shoved in you mail box UNSIGNED for. It will take a new law from congress to get that mess fixed so my constant complaining to my US Rep said.
Walgreen’s won’t take ES
Same goes for doctors more are turning new Medicare and Tricare Life patients down.
Friend is loosing her BC/BS as of Jan, TN is ground 0 for going to just 2 providers.
Why do you think 0 took pain meds away from GRANNY? And all these new assisted suicide laws are being passed? They don’t have the necessary drugs to eliminate a Death Row inmate, but they do have enough to eliminate a chronically sick patient in chronic pain they no longer treat. Or treat you like a street junkie and make you jump through Pain Management hoops and pee in a cup every month. For LESS pain control. DEA shortage of pain meds
http://www.theverge.com/2016/10/4/13166594/dea-opioid-epidemic-manufacturer-2017-substance-
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