Tuesday, August 16, 2016

Obamacare: "Signed, Sealed and Delivered"

Saw this bumper sticker recently on the car of someone who probably doesn't know that many of the uninsured discovered that the $5000 deductible made the insurance too expensive for the middle class.  Now 8/16/16 Washington Post:
Insurance giant Aetna’s decision to stop offering much of its individual coverage through the Affordable Care Act is exposing a problem in President Obama’s signature health-care law that could lead to another fraught political battle in Congress.

Aetna’s announcement Monday night was the latest sign that large insurers are losing money in the Affordable Care Act’s marketplaces, heightening concerns about the long-term stability of a key part of Obama’s domestic policy legacy. But addressing this issue could open the door to a nasty political fight, given that some Republicans have vowed to repeal the law outright.

If insurers continue to lose money, more are likely to withdraw from the marketplaces, a move that would reduce choices for consumers and could contribute to higher premiums. In one county, Aetna’s exit in 2017 could leave no insurers offering policies through its marketplace.

Aetna said it will exit 11 of the 15 states where it offers coverage through the Affordable Care Act, widely known as Obamacare. That affects about 80 percent of its customers covered through insurance marketplaces.
Great comments on the article about this shows how wonderful Obamacare is.

1 comment:

Nathan Bissonette said...

The exit was entirely foreseen. Insurers knew healthy people wouldn't sign up so they knew they'd lose money, and insisted on the Reinsurance program to make good on losses for the first three years. That program is ending, losses will not be repaid, the companies are outta here.