Insurers warn losses from ObamaCare are unsustainable

[tlongII]

http://thehill.com/policy/healthcare/276366-insurers-warn-losses-from-obamacare-are-unsustainable


Health insurance companies are amplifying their warnings about the financial sustainability of the ObamaCare marketplaces as they seek approval for premium increases next year.

Insurers say they are losing money on their ObamaCare plans at a rapid rate, and some have begun to talk about dropping out of the marketplaces altogether.

“Something has to give,” said Larry Levitt, an expert on the health law at the Kaiser Family Foundation. “Either insurers will drop out or insurers will raise premiums.”

While analysts expect the market to stabilize once premiums rise and more young, healthy people sign up, some observers have not ruled out the possibility of a collapse of the market, known in insurance parlance as a “death spiral.”

In the short term, there is a growing likelihood that insurers will push for substantial premium increases, creating a political problem for Democrats in an election year.

[boutons_deux]

fear-mongering shakedown to continue decades-long wealth-sucking of Human-Americans

[Blake]

Fuck those ass hole insurers.

:cry Obamacare is forcing me to sell my Global 7000 and fly a used G4 instead :cry

[DMX7]

And yet they fought the public option to the death

[rmt]

All on the Democrats - they could have had anything they wanted, but I guess some had to vote with their donors instead of what the Dems believe is best for the country.

[z0sa]

:lol force people to get healthcare, then cry foul and "we have to raise prices!"
:lol blaming it on democrats and/or the government as you're about to drastically raise prices and rely on healthy working class poor young people to pay them
:lol shills

[rmt]

:lol force people to get healthcare, then cry foul and "we have to raise prices!"
:lol blaming it on democrats and/or the government as you're about to drastically raise prices and rely on healthy working class poor young people to pay them
:lol shills

There is a 85/15 rule of the ACA that 85% must be spent on healthcare. The insurance companies only get the other 15% for expenses, etc. The reason why prices are going up are because of the 10 essential benefits that are required on EVERY policy regardless of whether the policy holder can use them (e.g. maternity benefits on every male/child policy) and insuring every pre-existing condition. So yes, the Democrats bear a big part in the cost of these policy because of the 10 essential benefits.

Yes, there are other reasons like people gaming the system - signing up, getting treatment and dropping after treatment and it just isn't worth it for young people who rarely get sick.