Skip to comments.ObamaCare Enrollment Is Shrinking, Top Insurers Say
Posted on 08/11/2014 2:15:34 PM PDT by SeekAndFind
Aetna's (NYSE:AET) ObamaCare exchange statistics should clear up any doubt as to why the Obama Administration has been tight-lipped about enrollment since celebrating 8 million sign-ups in mid-April.
Reality, evidence suggests, could require quite a come-down from those lofty claims.
The nation's third-largest health insurer had 720,000 people sign up for exchange coverage as of May 20, a spokesman confirmed to IBD. At the end of June, it had fewer than 600,000 paying customers. Aetna expects that to fall to "just over 500,000" by the end of the year.
That would leave Aetna's paid enrollment down as much as 30% from that May sign-up tally.
"I think we will see some attrition ... We're already seeing it. And we expect that to continue through the end of the year," CEO Mark Bertolini said in a July 29 conference call.
It's not clear how representative Aetna's experience is of broader exchange trends, or whether its projection may be too conservative. (If it were representative, a similar 30% decline would drop ObamaCare enrollment to 6 million or less.)
Still, as one of ObamaCare's largest players, participating in exchanges in 16 states plus D.C., Aetna's experience provides a pretty good window into what is happening across the country, and there are other indications that enrollment has turned down.
Cigna (NYSE:CI) said that it expects its individual market customers, including more than 100,000 in the exchanges, to "move from 300,000 down to 280,000 in that range," Cigna CEO David Cordani said in a conference call.
Other major insurers danced around questions about attrition on recent earnings conference calls, but none denied that it was occurring.
(Excerpt) Read more at news.investors.com ...
Gosh, who saw all this coming?
LOL........up to 25% cost increase due for next year.
Totally unexpected. Maybe we can try RomneyCare next.
Step 1: sink all boats but the government inflatable dinghy.
Step 2: push the ‘undesirables’ out of the boat in order to keep it from foundering
Step 3: watch helplessly as air leaks out, boat shrinks and loses buoyancy
Step 4: Claim boat is seaworthy and that ‘Obamacare is working!’ in loud voice.
For starters, the 8 million was a cr@p number .......
Why to go Judas Roberts, thanks a lot.
Barry's response to the press.
Paying for insurance that doesn’t do that much insuring loses appeal after a while.
It was Dr Stephen Hawking that first theorized that black holes evaporate.
Colonel Pickering says, “Well, I’m dashed!”
The Level One Trauma Care Center for the UP of Michigan - Marquette General Hospital Marquette owned by by Duke University (North Carolina) has a real problem the number of physicians are leaving in droves, the intake of incoming patients has been moved to a centralized intake system in Tennessee. ObamaCare is drying up the resources for physicians. Why would any physician desire to go to a rural area where the shortages will affect the bottom line. The local hospital has been purchased by another regional hospital system that is taking over the local hospitals in the Western UP Counties - Aspirus of Wausau Wisconsin is taking over the hospitals in Gogebic, Iron and Houghton Counties. Oddly enough Western Wisconsin’s medical care is being bought up by Mayo Clinics of Rochester, MN. Medical care in the USA looks like their will be less providers with more large scale facilities that cross state lines. How can ObamaCare be utilized when the facilities will be regional in nature not confined by state boundaries? MN - WI, WI - MI. What happens when Mayo takes over Aspirus - it will become MN, WI and MI. Some believe as Mayo Clinic expands as it is in Arizona it will broaden more and more. I believe Mayo Clinics are in Iowa too. Anyone from Iowa can tell us FRs.
The financial burden of insurance has become so great that the general populace is forced to go without it. The opposite of what Fubar Obama promised.
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