Posted on 12/01/2015 2:36:05 PM PST by SeekAndFind
Back in the middle of November we covered the announcement that one of the largest New York health insurance providers under the Obamacare co-op umbrella was in trouble. Health Republic had jumped on the Affordable Care Act bandwagon and signed up nearly a quarter million new subscribers, offering cut rate prices and surging to the top of the market in that area. Unfortunately, the expected cash bonanza from the government program failed to live up to expectations and the company quickly ran out of operating capital. Yesterday was the end of the line for Health Republic and they closed their doors.
Unfortunately for the citizens of New York, this failure didn’t just represent a blow to the company’s profits and the reputation of the White House’s signature legislative achievement. There have been real world consequences for the people who signed up for the plan, including running into doctors who won’t even accept appointments from people using the company’s services. (From The Watershed Post)
The shuttered company is no longer paying its claims, leaving doctors unsure whether they will ever be paid for seeing Health Republic patients. Some doctors have turned patients away, or are bargaining directly with patients over their medical fees…
Health Republic's collapse has forced a panicked scramble among patients and doctors in upstate New York. Local doctors have worried that Health Republic will default on bills, and at least one practice, the Llobet Medical Group, has turned away patients who have Health Republic insurance.
"This was one of the biggest disasters ever," said David Cordner, an administrator at Llobet Medical Group, a primary care practice with offices in Margaretville and Kingston. "I don't understand why New York didn't see this a lot sooner. Nobody got paid. Where was the money going?"
Where was the money going? Several New York legislators are asking exactly that question since a lot of taxpayer dollars were flushed down this rat hole before it was finally closed. Health Republic had received $265 million in federal loans to get started and that money has pretty much evaporated. Two state senators along with U.S. Congressman Chris Gibson have called for an investigation and are asking Governor Andrew Cuomo to explain where the money went and what he plans to do to ensure this doesn’t happen again.
“$265 million of taxpayer money disappeared and 215,000 New Yorkers are facing turmoil in their healthcare coverage," he told the Watershed Post. "There is no question that there needs to be an investigation to see where there was wrongdoing. This happened on Governor Cuomo’s watch."
Some of the personal stories which Watershed Post dug up are precisely the sort of outcome which people had feared, They talked to Candace Rudd, the owner of a hair salon, who called her doctor for an appointment and was told that her insurance was no longer accepted. They were willing to give her an appointment, but wanted a $100 cash payment to get in to see the doctor. Whether or not she’s able to afford that, there are far too many families who couldn’t in upstate New York’s struggling economy.
This is the larger, national potential for Obamacare on a local level. More than half of the state exchanges have closed at this point and nearly all the rest of them are in financial peril. But with the law in place, what happens to all of the collapsed segments of the system? Legally the states can’t simply walk away, but someone still has to pay the bills. Care to guess who that’s going to be?
I’ll give you three tries and the first two don’t count.
3. You were always a nice person, cloudie.
The demise of Obamacare is coming sooner than I originally thought. I give it 24 months max before it all goes down the hole.
"Mission Accomplished!"
THANK YOU.
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Hear that, Pastor?
And then what? The plan I had previously was made illegal by this asshat. Imagine that ... illegal because it didn't offer coverage for specific things ... to be replaced by a plan that has a $6,500 deductible which is essentially no coverage.
YOU’RE WELCOME, LOL! (Maybe the pastor heard me.)
Shhh! I don’t want to endure another...oh, never mind. :o)
When an insurer goes belly up, a state normally picks the pockets of other insurers.
As for the $265 million, it went to executives and possibly medical care and medical products.
As for keeping your doctor, you can keep him the old-fashioned way, with your dollars. Obama never lies, he just prevaricates.
“This was one of the biggest disasters ever,” said David Cordner, an administrator at Llobet Medical Group, a primary care practice with offices in Margaretville and Kingston. “I don’t understand why New York didn’t see this a lot sooner. Nobody got paid. Where was the money going?”
...
Cronies and other political crooks. Do I win a prize?
... are asking Governor Andrew Cuomo to explain where the money went and what he plans to do to ensure this doesn’t happen again.
Like any words that comes out of Cuomo’s mouth could be trusted.
The number of uninsured has increased.
Where did the dough go?
Follow the Monet(s)!
They'll make it Republicans' fault. Bank on it.
And his BLM drones will lap it up like the gospel truth.
250,000 patients....
Looks like went after sub prime patients
I’m still waiting for History of the World Part Deux
Please Mel!!
Bwahahahahahahaaaaaaaaaaaaaaaaaaaaaaaaaaaaa...
Thanks DIMs/LIBs.
Merry Christmas to all.
By the way... Isn’t the government going after the money by putting a bunch of forensic accountants on their trail? What does ever-mouthy Clown Prince nobama have to say about this?
You can lead a jackass to common sense, but you can't make him use it.
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