As Obamacare Insurance Death Spiral Intensifies, Senate Urged To Act

CMS Head: ‘Today, Obamacare Is In A Death Spiral And Millions Of Americans Are Being Negatively Impacted As A Result,’ ‘Congress Must Act Now’
PRESIDENT TRUMP: “Obamacare Is In A Death Spiral, And The Problems Will Only Get Worse If Congress Fails To Act.”
(CNBC, 6/7/2017)
VICE PRESIDENT MIKE PENCE: “…2 million more people just dropped out of Obamacare.  It is a death spiral.  And as CMS explained in the same report yesterday, in their words, ‘high costs and a lack of affordability were the most common factors individuals cited when asked why they didn't keep their coverage.’ The Affordable Care Act is failing, and American families and businesses are paying the price.” (Vice President Pence, “Remarks by the Vice President on Healthcare,” 6/13/2017)

CMS ADMINISTRATOR SEEMA VERMA: “I appreciate the work of the Senate as they continue to make progress fixing the crisis in healthcare that has resulted from Obamacare. Skyrocketing premiums, rising costs and fewer choices have caused too many Americans to drop their insurance coverage. Today, Obamacare is in a death spiral and millions of Americans are being negatively impacted as a result. The Senate proposal is built on putting patients first and in charge of their healthcare decisions, bringing down the cost of coverage and expanding choices. Congress must act now to achieve the President's goal to make sure all Americans have access to quality, affordable coverage.” Obamacare Insurance Death Spiral Intensifies, Senate Urged To Act(CMS, Press Release, 6/22/2017)

SEN. LAMAR ALEXANDER (R-TN): Under Obamacare “…Exchanges Are Collapsing, People Could Be Without Insurance, Premiums Will Skyrocket If We Don’t Act…”
(Sen. Alexander, Press Release, 5/5/2017)
SEN. JOHN BARRASSO (R-WY): “[W]e warned from the beginning about the ObamaCare death spiral, and we are seeing it happen here. For those people living in those counties in Ohio and those counties in Washington, the insurance death spiral is complete. There is no insurance market. There is no one offering to sell insurance because of the damage done by ObamaCare to the insurance market in the United States.” (Sen. Barrasso, Congressional Record, S. 3480, 6/14/2017)

SEN. BILL CASSIDY (R-LA): “Obviously, before President Trump took office, about 11 states were in a so-called death spiral in the individual market. Since, others have joined.” (MSNBC, 6/21/17)

INSURANCE EXECS: Obamacare In ‘Death Spiral,’ It’s ‘Not Going To Get Any Better; It’s Getting Worse’
“Aetna chief executive Mark Bertolini said Wednesday that the Affordable Care Act's exchanges … are in a ‘death spiral.’” (“Aetna Chief Executive Says Obamacare Is In A ‘Death Spiral,’” The Washington Post, 2/15/2017)

• “Obamacare is in a ‘death spiral,’ the influential CEO of Aetna, Mark Bertolini, declared Wednesday morning. Bertolini’s doomsday prophesy: More insurers will pull out of the government-run marketplaces in the coming weeks and many areas will have no insurers to provide Affordable Care Act coverage in 2018. ‘It’s not going to get any better; it’s getting worse,’ Bertolini said in an interview at a Wall Street Journal event.” (“Aetna CEO: Obamacare Markets Are In A 'Death Spiral,'” Politico, 2/15/2017)

“The head of the largest insurer in the Mid-Atlantic region warned Thursday that the Affordable Care Act marketplaces were in the early stages of a death spiral, a statement that came as the company announced its request for massive, double-digit premium increases for next year.” (“One Of Maryland’s Biggest Obamacare Insurers Wants To Hike Rates 50 Percent Next Year,” The Washington Post, 5/04/2017)

• “‘What we’re seeing is greater sickness levels. The pool of beneficiaries is becoming sicker, in part because healthier people are not coming in at the same level we hoped,’ said Chet Burrell, chief executive of CareFirst … said he was worried that the market was in the early stages of a death spiral, in which sick people who need insurance stay in the pool but healthier people drop out, causing insurers to raise rates — driving even more healthy people out of the market.” (“One Of Maryland’s Biggest Obamacare Insurers Wants To Hike Rates 50 Percent Next Year,” The Washington Post, 5/04/2017)

‘Widespread Concerns … That The Markets Could Collapse,’ ‘Obamacare’s Markets Are Becoming Increasingly Vulnerable,’ ‘Imperiled’
“Obamacare’s markets are becoming increasingly vulnerable as major health insurers exit, citing financial losses. Some insurers have stayed in but raised the premiums they charge customers by double-digit percentages. Some of the instability has been going on for years, as fewer people than expected have signed up for plans and many have been sicker than insurers accounted for.” (“Aetna To Pull Out Of Nebraska's Obamacare Exchange In 2018,” Omaha World-Herald, 5/11/2017)

• “Obamacare’s health insurance markets are flirting with financial disaster...  The insurance markets, which have been bleeding money, have taken one hit after another … beginning with news that Humana would become the first major insurer to pull out of the market completely next year. … Other insurers are sounding alarms about the imperiled market.” (“A Bleak Week For Obamacare,” Politico, 2/15/2017)

“There have been widespread concerns over the last year that the markets could collapse as insurers raised premiums sharply in the face of more costly than expected patients.” (“Amid Obamacare Uncertainty, Insurance Giant Humana Plans To Leave Marketplaces In 2018,” Los Angeles Times, 2/14/2017)

• “Parts of the country are in jeopardy of not having an insurer offering Obamacare plans next year. Many counties already have just one insurer offering health plans in the Obamacare marketplaces, and some of those solo insurers are showing signs that they are eyeing the exits.” (“Obamacare Choices Could Go From One to Zero in Some Areas,” The New York Times, 3/31/2017)

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