Posted on 04/19/2016 7:56:10 AM PDT by xzins
UnitedHealth, the nation's biggest health insurer, will cut its participation in public health insurance exchanges to only a handful of states next year after expanding to nearly three dozen for this year.
CEO Stephen Hemsley said Tuesday that the company expects losses from its exchange business to total more than $1 billion for this year and last. He added that the company cannot continue to broadly serve the market created by the Affordable Care Act's coverage expansion due partly to the higher risk that comes with its customers.
UnitedHealth Group Inc. said it now expects to lose $650 million this year on its exchange business, up from its previous projection for $525 million. The insurer lost $475 million in 2015, a spokesman said.
UnitedHealth has already decided to pull out of Arkansas, Georgia and Michigan in 2017,
(Excerpt) Read more at hosted.ap.org ...
ObamaCare appears to be collapsing
I never knew how racist United Health Care was
We knew this would happen the idea from the get go is “single payer” ( meaning the govt) healthcare...and private insurance out of it unless the gubmint is subsidizing it...we are so screwed because the GOP e lied an refused to destroy Obamacare when they had a chance now the monster will do us in...Screw you GOP e I a voting for Trump in November after that Katie bar the door....cause I don’t know what happens next
Freegards
LEX
I just sent to the IRS over $12,000 in Obamacare fines, in addition to the nearly $10,000 I paid in insurance premiums during the year. How in hell do they go belly up?.......................
I’m sure most people on here remember when only the rich could afford cell phones-back when they were the size of WWII walkie talkies.
Or when 42” plasma’s were $4000+.
Or when blue ray players were over $1000.
Or when only the rich could afford a brand new car.
Amazing what a little competition can do...
They can all burn in hell........................
I can’t imagine the 12 thousand in fines. I’d be trying to tear down the tower and behead the king. I sent my annual huge check to the IRS last week, but it was just my share of paying for a gazillion ObamaPhones and golf outings.
They cover the sick and poor who cannot pay and who live in emergency rooms as a part time job.
That’s why you pay so much. You’re probably one of about a thousand healthy people left in the entire plan. /sarc.
In addition to the $12k I sent, of which only about $1.5k were actually taxes, I had to include a form and a letter of explanation begging to be waivered for any additional ‘fines’ for UNDERPAYMENT, the amount of which THEY WILL DETERMINE if my WAIVER ‘REQUEST’ is turned down!...................
They didn’t even check my obamacare 1095s. They just asked if I had one. I had several, but I imagine there will be a lot of lies being forwarded once they start racking up fines like yours.
Most of mine was underpayment of income tax this year. In the past it’s been that and underpayment of social security.
Thats Awesome, I had the pleasure of sending Obama $33,000 last week, of which $1777 was my Obamacare Tax for NOT having insurance anymore.
We need the PEACE Act,
The Public Employee Affordable Care Enrollment Act
All Persons that can be classified as a Public Employee or a Retired Public Employee, Shall be required to purchase their own personal health insurance from the Affordable Care Act Exchange in their State.
Of course I would include CRIMINAL PENALTIES for Any Public Employee that failed to enroll. After all THEY SUPPORTED IT.
It is a Win Win for EVERYONE, Public Employees should not be stuck in those inferior, high priced health plans. Our Public employees DESERVE the highest quality health care the GOVERNMENT has to offer at a very affordable cost, Taxpayers SAVE HUNDREDS OF BILLIONS of Dollars annually, Insurance Companies Make a Bundle also.
Everyone is a winner.
All of those greedy health insurers joined at the hip with Obama who sold them on there being millions of ‘new’ customers that would be paying big premiums.
All of the destruction of the private health care corporations was planned by Obama and his regime in order to get Government Health Care.
Just like the old fable :
The Scorpion and the Frog
A scorpion and a frog meet on the bank of a stream and the
scorpion asks the frog to carry him across on its back. The
frog asks, “How do I know you won’t sting me?” The scorpion
says, “Because if I do, I will die too.”
The frog is satisfied, and they set out, but in midstream,
the scorpion stings the frog. The frog feels the onset of
paralysis and starts to sink, knowing they both will drown,
but has just enough time to gasp “Why?”
Replies the scorpion: “Its my nature...”
Hems,eye earning his $66 million in comp. nice work!
Now they’ll say that single payer is the only way to fix it.
Well these guys need to bring in Milt Romley as a consultant to get it all back in the black.
Milt is my health care hero.
/s
Private payer not single payer
This is a bummer about United Healthcare because if I ever had to turn to an exchange, I’d want to pick them. For us, they have always been a fair company to deal with.
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