Amazing they can lose money when their premiums are high and they don’t cover anything.
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!
They are doing OK on the members who actually pay for coverage. As we all know, under Obamacare not everyone pays.
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.
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.
I only have Medicare Part A. When I needed orthopedic work on an insured shoulder, that means I pay the bill. I totally get it that insurance companies are going under and the people often can't pay their deductibles. What I saw is a medical profession that's OUT OF CONTROL, recommending the most expensive solutions, and billing the max and also charging folks pretty hefty deductibles. The other factor is that billing is such a mess some doctors offices have more people working in billing and verifying coverage than in medicine! And even with that there's an outside entity that's in charge of collections. The billing and collection process takes months.
The only way to solve it is less layers and more competition. That only happens if Obamacare disappears and insurance doesn't cover everything.
JMHO
Exactly what I was thinking. We’ve had BCBS for 20 years and it’s horrible. When Obamacare was enacted and there were stories about the shock of people when their premiums shot up and coverage went down- my shock was that we’d had crappy insurance for the previous decade. Everyone else’s skyrocketing costs has been our normal for years.
“Amazing they can lose money when their premiums are high and they don’t cover anything.”
You noticed that also?
I agree. I have the privelage of paying $14,000 a year in premiums and the first $5,000 of both my wife’s and my medical care is on us.
Since we eat responsibly, don’t drink or smoke, and exercise regularly, we never get close to the $5,000.
If this is Affordable Care, I’d hate to see the alternative.