Posted on 05/11/2017 6:46:21 AM PDT by rktman
Guy has written extensively on the death spiral of Obamacare. From rising premiums, loss of insurance, and health care companies feeling the financial squeeze, President Obama’s health care overhaul is crumbling. In North Carolina, Blue Cross Blue Shield, which is the state’s largest insurer that offers Obamacare plans to all of its 100 counties, says the financial losses have been immense. CEO Brad Wilson told The News and Observer in February of 2016:
“In year one [2014], five percent of our ACA customers consumed $830 million in health care costs. That’s how much money went out of our door to pay for the heath care for the sickest five percent of the ACA population that we had; we collected $75 million in premiums–between what they could contribute and the government subsidy. Any way you cut it that’s an unsustainable business model.”
(Excerpt) Read more at townhall.com ...
That, and the RINOs keep trying to save it/tweak it/keep it under a different name.
As if changing the name makes it different.
Hold on there, Rocket. There’s one reason and one reason only Aetna lost so much money on ACA — TRUMP!
TRUMP the ENABLER
People must feel the pain of their votes.
Do not enable the liberals by replacing Obamacare with more garbage. The victims will just blame you.
FIFTY PERCENT increase. 50!
Trump needs to tweet Maryland Senators and especially the vile Stenny Hoyer and ask if they're still on board with Obamacare for Marylanders.
This bill will change in the Senate and change again in conference. Calling it garbage now is premature.
Hopefully by next year there will be nothing left from which to withdraw!
How about “pre” garbage?
This guy makes it sound like businesses are there to make money, not create jobs and help people. /s
I hope Obamacare will self-destruct, so that even RINOs will vote to repeal that terrible law and restore freedom.
15million people in NC
75million in collected premiums
830million in paid claims mostly from 5%
15M people is like, Los Angeles County plus Rio Linda. I’m no math wizard but it seems like just about Everybody in NC (sorry guys, not personal) would have to be on their deathbeds to plow through 830M in one year. Y’all got a Janet Napolitano out there secreting money aside into some slush fund or what?
Let's see the evidence for that assertion. I'm not convinced a lot of that spending was needful.
“In year one [2014], five percent of our ACA customers consumed $830 million in health care costs. That’s how much money went out of our door to pay for the heath care for the sickest five percent of the ACA population that we had; we collected $75 million in premiums–between what they could contribute and the government subsidy. Any way you cut it that’s an unsustainable business model.”
...
Obamacare was designed to fail and they know it.
Aetna should be forced to remain in ACA for at least 5 more years ,,, they championed it knowing it would cripple the greater economy and their customers for what they thought would be their gain ... I want their head on a platter and will cheer when a smaller insurer takes their place.
Let the bastards that pushed O-Care on us die.
And Trump hasn’t even written an EO yet to reverse Obama’s EO committing profits from Fannie Mae and Freddie Mac to the subsidies of Obamacare. THAT will effectively de-fund Obamacare, depending on the terms of the most recent legislation.
Its all going to morph into single payer in the next couple of years.
Insurers are stupid.....they did not know the ONLY reason for ACA is b/c Marxist Obama figured insurance companies were making too much money....so concocted ACA to bring them down.
“Its all going to morph into single payer in the next couple of years.”
No matter who pays the bill, the bill has to be paid, so I don’t see the system morphing into single-payer as a solution. There needs to be some effective cost controls everyone involved in delivering H/C is getting way, way too big a cut of the pie. We have created a system that has extended our lives, and with that extension has come some really extraordinary costs. That’s the reality with which we are faced.
Prepare for disappointment. The reason the RINOs don’t have a replacement plan is because single payer is the replacement plan. Sadly the average American wants universal healthcare at this point and the GOP is all about the easy way out.
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