WesternFreePress: One has to wonder if more stories like this are to come…but not really (emphasis added is mine):
UnitedHealth Group, the largest insurance company in the U.S., on Thursday slashed its earnings outlook, citing new problems related to Obamacare, and told investors it may exit the program’s exchanges….
The company said it expects “earnings pressure” of $425 million, which “is driven by projected losses on individual exchange-compliant products related to the 2015 and 2016 policy years….” more
Gee, imagine that… Forced to take people on as insurance customers without screening for pre-existing conditions, and it costs you a ton of money. Who’d have imagined that would happen?… Besides anybody who understood a fucking thing about insurance.
The funniest thing about this is that the big insurers wrote Obamacare (aka the Health Insurance Corporation Profit Protection Act) themselves.
Well look who they crawled in bed with – The Charlie Sheen of Socialism!
obamacare wasn’t designed to be successful. It was designed to be passed. Democrats knew, as written, it would fail. However they also knew they had only one chance of getting single-payer socialist healthcare passed, and that was to pass something (ANYTHING!) that the republicans would have to fix later.
So, obamacare has worked out EXACTLY as planned. It’s going to outlive the obama administration, enough of the non-working half of America has joined that it can never be killed, and the only way to fix it will be to morph it into a national healthcare system. Done, done and set up to be done.
And employers wanted too. They would love to shift this cost to the taxpayer.
“…told investors it may exit the program’s exchanges….”
*may*
More likely, investors, it will cut an illegal side deal and/or get unsustainable exemptions from Barky. Bank.on it.
My guess is this is just the crony capitalist way of getting their hands on more taxpayer money. There was supposed to be a slush fund established from “profits” from the exchanges plus a guarantee from confiscated taxpayer wages that guaranteed profits to these insurance companies no matter how badly they were managed.
Apparently the confiscated wages “corridor” is not enough to offset the ignorant Obamacare design and their own lousy management.
Another version of the “too big to fail” banks that get to reach into your pocket for their bonuses.
Let it get out. Let’s pay doctors directly and bring back catastrophic care insurance.
they may have written it but someone convinced them that the young and healthy would be signing up in droves to pay for it all.
oops!
I wonder who THAT was?
Has anybody else noted that what used to be a vaunted health care system is now a mirror image of the Federal Government? Full of bureaucrats, money grubbing, incompetent, uninterested and blessed with a plethora of rules and regulations, but very little medical treatment!
And now for the REAL reasons United Healthcare pulled out of the exchange. http://www.healthinsurancementors.com/faq/the-real-reasons-that-united-healthcare-has-exited-the-aca-exchange/
Thanks! I was trying to find your post on facebook. 😀