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Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Tuesday, October 04, 2016

Obamacare: ‘The Craziest Thing In The World’

‘Consumers Will See Higher Premiums And Fewer Insurers’

“President Barack Obama said his signature health-care law has ‘real problems’…” (Bloomberg, 10/3/16)

FORMER PRESIDENT BILL CLINTON on the consequences of Obamacare: “It’s the craziest thing in the world.” (“Bill Clinton Bashes Obamacare As ‘Crazy System’ While Campaigning For Hillary,” The Washington Times, 10/4/16)
“The marketplace faces a major test in the fourth annual open enrollment season, which starts on Nov. 1, a week before Election Day. In many counties, consumers will see higher premiums and fewer insurers…” (“Ailing Obama Health Care Act …” The New York Times, 10/3/16)

Democrats’ Original Sales Pitch: ‘Lowers Costs For Every Patient, Reins In Premiums, Copays And Deductibles’

REP. NANCY PELOSI (D-CA): “This is why this legislation is important: affordability for our middle class. It lowers costs for every patient, reins in premiums, copays and deductibles, limits out-of-pocket costs, and lifts the cap on what insurance companies cover each year. (Rep. Pelosi, Press Conference, 10/29/09)

SEN. HARRY REID (D-NV): “[W]e are bringing security and stability to millions who have health insurance ... What we will do is ensure consumers have more choices and insurance companies face more competition.” (Sen. Reid, Congressional Record, S. 13891, 12/24/2009)

‘This Is Crazy,’ ‘51 Percent Of American Workers Have A Deductible Of At Least $1,000’

“[Lezlie Walla] the 34-year-old single mother of two knew her son, Caleb, should go to the doctor. She also knew she couldn't afford it. This is crazy, she wanted to scream. She has insurance, but it comes with a $6,000 family deductible - $2,000 for each of them - that she must pay before her policy typically pays a dime. Last year, she was uninsured. This year feels exactly the same.” (“A Shift In Coverage Has Even The Insured Skipping Medical Care,” Houston Chronicle, 10/1/2016)
“This year, for the first time, a majority threshold was crossed as 51 percent of American workers have a deductible of at least $1,000. That compares with just 10 percent a decade ago, according to the Kaiser Family Foundation's 2016 annual health benefits survey released in September.” (“A Shift In Coverage Has Even The Insured Skipping Medical Care,” Houston Chronicle, 10/2/16)
‘17th Plan Established Through The Affordable Care Act Nationwide To Stop Selling Coverage’

MINNESOTA: ‘Individual Market There Came To The Brink Of Collapse’

“Minnesota health insurance market in ‘emergency situation’” (“Minnesota Health Insurance Market In ‘Emergency Situation,’” The Associated Press, 9/30/2016)

“Department of Commerce Commissioner Mike Rothman said Friday that the five companies offering plans through the state's exchange or directly to consumers were prepared to leave the market for 2017. He said big rate increases were the tradeoff to convince all but one company to remain for now.” (“Minnesota Health Insurance Market In ‘Emergency Situation,’” The Associated Press, 9/30/2016)
“Minnesota will let the health insurers in its Obamacare market raise rates by at least 50 percent next year, after the individual market there came to the brink of collapse…” (“Near ‘Collapse,’ Minnesota To Raise Obamacare Rates By Half,” Bloomberg, 9/30/16)

TENNESSEE: ‘Seismic Changes To The State’s Insurance Options’

“BlueCross BlueShield of Tennessee sent shock waves Monday across Tennessee with the company's decision to exit the Obamacare exchange in Nashville, Memphis and Knoxville, a move that highlights persistent volatility in the young health insurance marketplace.” (“BCBST's Exit From 3 Obamacare Markets Sends Shock Waves,” The Tennessean, 9/27/16)
WISCONSIN: ‘Arise Health Plan… The Latest Company To Abandon The Market’

“Arise Health Plan, a subsidiary of WPS Health Solutions, said Thursday that it will not sell health plans on the marketplaces set up through the Affordable Care Act next year, becoming the latest company to abandon the market. Arise and WPS Health Insurance also will sell only high-deductible health plans for individuals and their families off the marketplace, and those plans will be available only in a limited number of counties.” (“Arise To Leave ACA Marketplaces,” Milwaukee Journal Sentinel, 9/30/16)

NEW JERSEY: ‘Health Republic Insurance Of New Jersey Will Shut Down For Next Year, Forcing 35,000 People To Find New Insurance’

“Health Republic Insurance of New Jersey will shut down for next year, forcing 35,000 people to find new insurance by Jan. 1. The shutdown leaves just two companies doing business on, the Affordable Care Act marketplace for New Jersey. And it highlights the flaws of President Obama’s signature health law, as well as the difficulties of starting a new insurance company.” (“Health Republic Insurance Of New Jersey’s Demise Exposes Flaws Of Obamacare,” The Record, 10/3/16)
“It was the 17th plan established through the Affordable Care Act nationwide to stop selling coverage, adding to the mounting evidence that the vision of new non-profit insurers competing in the marketplace with long-established corporations had been doomed — either by design or congressional obstruction or both.” (“Health Republic Insurance Of New Jersey’s Demise Exposes Flaws Of Obamacare,” The Record, 10/3/16)

SOUTH DAKOTA: ‘Wellmark Blue Cross And Blue Shield Will No Longer Offer Individual’ Obamacare Plans

“KOTA Territory News has learned that Wellmark Blue Cross and Blue Shield will no longer offer individual Affordable Care Act, Obamacare, plans in South Dakota effective January 1st. Wellmark notified insurance agents across the state on Tuesday saying the company lost $32 million in the healthcare exchange over the past two years.” (“Health Insurance Changes For South Dakota Residents,” KOTA-TV, 9/27/2016)
MONTANA: ‘Montana Health Insurance Company Say The Company Will Shut Down’

“Officials for a Montana health insurance company say the company will shut down next year. Ryan O’Connell of New West Health Services said Friday the company will cease operations… New West has 15,000 customers, including 14,000 with Medicare Advantage coverage.” (“Montana Insurer to Shut Down in 2017,” Flathead Beacon, 9/24/16)

IOWA: ‘The Largest Private Provider Of Health Insurance In Iowa — Announced Tuesday It Will Reduce Coverage For Some Of Its Products’

“Wellmark Blue Cross and Blue Shield — the largest private provider of health insurance in Iowa — announced Tuesday it will reduce coverage for some of its products in the individual Affordable Care Act market in Iowa.” (“Wellmark Will Change Some Product Coverage,” The Gazette, 9/27/16)
INDIANA: ‘Indiana University Health Plans Is Pulling Out Of The Obamacare Marketplace’

“Indiana University Health Plans is pulling out of the Obamacare marketplace in Indiana, just one month after state regulators approved its proposal to raise premiums nearly 15 percent.” (“IU Health Plans Quits Obamacare Exchange, Citing 'Heightened Financial Uncertainty,'” Indianapolis Business Journal, 9/26/16)
ATLANTA & CHICAGO: ‘Experimental Health Plan Subsidiary Is Pulling Out’
“UnitedHealth Group's experimental health plan subsidiary is pulling out of the Affordable Care Act exchange markets in Chicago and Atlanta after losing nearly $70 million in the first six months of 2016. And its founding CEO, who spearheaded the plan's primary care-focused benefit design, has been replaced by a new leader.” (“UnitedHealth Subsidiary Ditches ACA Exchange After Posting Losses,” Modern Healthcare, 9/29/16)

Tags: Obamacare, train wreck, crazy To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. and "Like" Facebook Page - Thanks!
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