Obamacare chickens coming home to roost (calling the ChiTown Farmer)

[FaC]

Purveyor (27,974 posts)

Obamacare's November Surprise

Many consumers will see large rate increases for the first time Nov. 1 — a week before they go to the polls.

By Paul Demko
05/02/16 05:22 AM EDT

The last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare.

But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing by raising rates.

Just a week after the nation’s largest insurer, UnitedHealth Group, pulled out of most Obamacare exchanges because it anticipates $650 million in losses this year, Aetna’s CEO said Thursday that his company expects to break even, but legislative fixes are needed to make the marketplace sustainable.

“I think a lot of insurance carriers expected red ink, but they didn’t expect this much red ink,” said Greg Scott, who oversees Deloitte’s health plans practice. "A number of carriers need double-digit increases.”

In some ways, the turmoil is not surprising: Under the health care law, plans are unable to choose who to insure, or how much to charge them based on their medical history. As a result, many plans enrolled a larger proportion of sicker people than they bargained for. But some of those losses were also a function of political wrangling after Republican lawmakers blocked payments that were supposed to help insurers get through the difficult first years.


Read more: http://www.politico.com/story/2016/04/obamacare-rate-hikes-a-looming-political-headache-for-democrats-222663#ixzz47XSvLqCc
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http://www.democraticunderground.com/10027797817

Ron Obvious (3,779 posts)
4. We've already had big increases...

We're now paying $825 a month for a shitty bronze plan (up from $675 last year) and I was able to deduct over $25,000 in medical expenses on my tax return last month.

This isn't sustainable.

^^^ "shitty"? - Our buddy Ron better start looking over his shoulder - heretics could live a short life...

moonbabygo (119 posts)
6. Can insurance companies pull out?

I thought it was mandatory that they participate. If that is not true what would we do if they all pulled out?

^^^ They can right now but in the DUmmie utopia the CEO will be shot at dawn if s/he were cheeky enough to try to pull out.

Hydra (14,085 posts)
12. I dodged a bullet like this last year

My rate was going to double, but my insurer got pushed out of the pool and and new one came in that I can afford.

I live in mortal terror of what will happen next year- starve under coverage or pay the fine if I don't get lucky again?

^^^ Unpossible

[DLR Pyro]

"We will start by reducing premiums by as much as $2500 a year per family "

"If you like your doctor,  you can keep your doctor "

[BattleHymn]

Mon May 2, 2016, 06:11 PM
flamingdem (33,392 posts)
2. This story is being pushed and it's BS

for the most part. ACA is very successful and millions have been helped. Of course the insurance companies spend millions trying to scare people and get higher rates, screw them, no way are they believable.

In my case I got a slight reduction in 2016 in an expensive area and on the best available plan. Thanks to Obama!

 

[SVPete]

Mon May 2, 2016, 06:11 PM
flamingdem (33,392 posts)
2. This story is being pushed and it's BS

for the most part. ACA is very successful and millions have been helped. Of course the insurance companies spend millions trying to scare people and get higher rates, screw them, no way are they believable.

In my case I got a slight reduction in 2016 in an expensive area and on the best available plan. Thanks to Obama!

 

Ya know, I think this party-line baloney may not go over even in DU-Land. As DLR so eloquently said,

[tanstaafl]

moonbabygo (119 posts)
6. Can insurance companies pull out?

I thought it was mandatory that they participate. If that is not true what would we do if they all pulled out?

No, moonbat-crazy-baby. you got that backwards, you stunad. Insurance companies can do whatever they want, participation is voluntary for them.

On the other hand, participarion by citizens is mandatory.

So suck it.

[Karin]

^^ Exactly.  How can this moonbat be so ignorant about obozo's "signature legistlation?"  She goes on to another post beginning "Oh dear." 

[I_B_Perky]

Ya know, I think this party-line baloney may not go over even in DU-Land. As DLR so eloquently said,

It is called reality SV and it is slapping the dummies upside the head in a major way.   

This law was always going to have winners and losers.  The dems were counting on the winners outnumbering the losers.  Seems they miscalculated.  We told them that and they called us knuckle dragging morons... and that was one of the nicer things they called us.

The smart thing for the dems to do was to make a high risk pool and fund it... or put them on medicaid. They could have done that for 1/5 the cost and they would have been hailed as heros. Did they? No. They went for the semi holy grail of putting a lot of people in the insurance pool because they thought they would be in the majority for a number of years. The MSM told them that and they believed it.  They figured they could fix it... read raise taxes... in incremental steps.  Did not quite work out the way they thought. Now they own it.  Lock, stock and barrel.   

I love dummie angst when reality slaps them upside the head.  It brightens my day! 

[Delmar]

My how time flies!  It's hard to believe that it's seven years ago today when the dipshit POS used car salesman was babbling about celebrating Cinco de Cuatro.

[youtube]https://www.youtube.com/watch?v=l1O9txBU9FE[/youtube]

What a buffoon.

[98ZJUSMC]

This isn't sustainable.

Gee...... if only someone, anyone had tried to warn you.

    

[98ZJUSMC]

No, moonbat-crazy-baby. you got that backwards, you stunad. Insurance companies can do whatever they want, participation is voluntary for them.

On the other hand, participarion by citizens is mandatory.

So suck it.

By Gaia, we'll FORCE them to participate.  If not, we'll bankrupt them.......

Oh, wait. ........