BREAKING: Aetna declares it will exit all Obamacare exchanges

... : How Will “Trumpcare” Differ From “Obamacare?” | FITSNews
Source: NaturalNews.com
Tracey Watson
May 16, 2017

There is no doubt at this point that Obamacare is on life-support. As Republicans work hard behind the scenes to dismantle it completely, insurer Aetna Inc. announced this week that it will no longer be selling Obamacare plans in Delaware and Nebraska – the last two states in which it was still doing so.

“At this time have completely exited the exchanges,” Aetna said in a statement released May 10.

Though Aetna was initially one of the biggest players in the Obamacare exchanges, this announcement comes as no surprise.

At the end of 2016, Aetna announced that it would cut its participation in the exchanges by 70 percent, reducing the number of states it would sell individual Affordable Care Act plans in from 15 to just four. That decision was made as an effort to claw back some of the company’s losses, and came just two weeks after Aetna declared $200 million in pre-tax losses for the second quarter of that year.

“As a strong supporter of public exchanges as a means to meet the needs of the uninsured, we regret having to make this decision,” Marc Bertolini, Aetna’s CEO, said at the time.

Then, back in February, Bertolini criticized Obamacare’s markets, saying that with the increase in premiums, and more and more healthy individuals dropping out, they were on the brink of failure. In a video interview with the Wall Street Journal he went so far as to say that Obamacare was “in a death spiral.”

Chief Financial Officer Shawn Guertin indicated earlier this month that Aetna might withdraw from the exchanges completely to limit the financial hemorrhage that Obamacare has meant for the company. Even with representation in just four states, Aetna projects it will lose $200 million on individual health plans this year.

The Obamacare Health Insurance Exchange Marketplace officially opened in October of 2013 as an online marketplace for health insurance. The idea was that Americans would be able to obtain affordable healthcare coverage from competing private healthcare providers. Side-by-side comparisons would allow them to make the best possible choices for their families. On-site calculators would also enable people to determine if they qualified for cost assistance subsidies, Medicaid or CHIP. The promise was that tens of millions of Americans would qualify for such subsidies, available only through the marketplace. It was also claimed that 60 percent of Americans would qualify for coverage at $100 or less per month.

So, what went wrong?

Well, Obamacare has been very unpopular pretty much right from the beginning. While it is true that premiums can be as low as just $75 a month, deductibles often run into the thousands of dollars.

Natural News reported in 2016, that in certain states, premiums had increased by as much as 67 percent in a desperate bid to keep insurers from leaving the exchanges.

Over 8 million Americans were fined an average of $210 per tax return in 2015 for penalties related to Obamacare’s individual mandate.

Some people were also unhappy that they had to pay higher costs if they were cared for by providers that were not in their network, and that certain medications had been placed in high-cost categories by their insurers.

Critics of Obamacare have also called it a “job killer,” since employers are forced to obtain insurance for their staff members, increasing company costs.

Perhaps former President Bill Clinton said it best at a rally in 2016, when he said, “So you’ve got this crazy system where all of a sudden 25 million more people have health care and then the people who are out there busting it, sometimes 60 hours a week, wind up with their premiums doubled and their coverage cut in half. It’s the craziest thing in the world.”

Read At: NaturalNews.com

Sources for this article include:

Bloomberg.com

Bloomberg.com

MSN.com

ObamacareFacts.com

USNews.com

NaturalNews.com

Obamacare collapse continues as major insurer Aetna dumps ALL exchanges, leaving millions without options

Image: Obamacare collapse continues as major insurer Aetna dumps ALL exchanges, leaving millions without options
Source: NaturalNews.com
JD Heyes
May 12, 2017

Following lie after lie, the government-run healthcare fiasco known as Obamacare continues to unravel and collapse, leaving tens of millions of Americans paying obscene prices for unusable ‘coverage’ – that is, when they can get it at all.

One of the biggest lies of all used by former President Obama and the Democratic Party is that the Affordable Care Act would provide a myriad of choices of insurance coverage, an alleged aspect of the plan that would lead to more competition and lower prices.

The exact opposite has happened, in fact, as prices for monthly premiums and out-of-pocket deductibles have literally become unaffordable for many.

And now, as major insurer Aetna announces it will become the latest insurer to leave the Obamacare exchanges, millions of Americans will be left with no choice at all. (RELATED: Collapse: Anthem announces it will exit Obamacare markets this year, leaving millions of Americans with no provider choice)

As reported by Bloomberg Politics:

While the move is likely to attract outsize political attention, the decision affects just Delaware and Nebraska. The Hartford, Connecticut-based insurer already said last year it would pull out of 11 states, and in the last month announced plans to exit Iowa and Virginia.  

“We will not offer on- or off-exchange individual plans in Delaware or Nebraska for 2018, and at this time have completely exited the exchanges,” Aetna said in a statement Wednesday.

Bloomberg’s attempt to downplay the scope if Aetna’s decision undermines the wider, bigger, and more important issue that the insurer had already pulled out of most of its Obamacare markets, as reported by Reuters:

Aetna had already said it would exit the individual commercial market in Virginia and Iowa, after pulling out of several other states last year.

Townhall.com reported in April 2016 that insurers were pulling out of the exchanges “in droves,” severely hampering consumers’ insurance choices. The site referenced a study by the Heritage Foundation that Obamacare overall had dramatically limited consumer choice, finding that 45 percent of all states had fewer health insurance options than were being offered just one year before – 2015. And of the 45 insurer exits from the exchanges, 31 were “voluntary exits, with 21 of those completely abandoning all ACA exchanges – because they were hemorrhaging money.

Worse, the insurers that have remained in the exchanges have had to dramatically boost premiums in order to remain profitable – another lie regarding Obamacare told to us by the former president and Democrats, who pledged that rates would fall by an average of $2,500 per year.

The departure of Aetna from its remaining Obamacare exchanges is just the latest reason why Congress should fully repeal and replace the Affordable Care Act with free market solutions that allow patients, insurers and medical providers the right to determine prices. The only way the U.S. healthcare system will ever be affordable again – for insurance companies, for providers and for consumers – is to get the government completely out of ‘managing’ our healthcare system altogether.

Political sycophant supporters of Barack Obama and Democrats, for some reason, are refusing to face reality and acknowledge the obvious – Obamacare is an abject failure, it is destroying family incomes, it is falling far short of providing the “universal” coverage it was supposed to provide, and it has created havoc and uncertainty throughout the healthcare delivery system. (RELATED: Obamacare will collapse under the weight of rising premiums)

That’s what is so far preventing Congress from pulling the plug on this grotesque, destructive law and letting Americans and the market decide what is best for their needs.

While the government certainly has an interest in the cost of health care as it pertains to Medicare, Medicaid and the VA, in a truly free market system it could use its massive purchasing power to negotiate for better rates – much like retail giant Walmart does when deciding what product lines to carry and from which suppliers. But that’s all government should be – just a customer among tens of millions of individual customers and purchasing groups who, themselves, could negotiate locally for better prices.

Obamacare is an abject failure. The signs are everywhere. It’s not going to get any better.

Repealing it, and returning to the people the right to decide coverage and care options for themselves, should not be as difficult as it has been.

J.D. Heyes is a senior writer for NaturalNews.com and NewsTarget.com, as well as editor of The National Sentinel.

Read More At: NaturalNews.com

Sources:

Townhall.com

Bloomberg.com

Heritage.org

TheNationalSentinel.com

Obamacare Collapse: Aetna leaving exchanges in 11 states due to Obamacare

Obamacare collapse
Source: NaturalNews.com
Julie Wilson
August 19, 2016

Healthcare providers are increasingly unable to survive unforeseen costs associated with Obamacare. In June, Blue Cross Blue Shield of Texas announced its plan to significantly increase health insurance rates, hitting the pocketbooks of some 600,000 residents.

Now, healthcare insurer Aetna has announced that it will completely pull out of the Affordable Care Act individual public exchanges in 11 states, due to millions of dollars in losses. The provider said that it will still offer coverage in Delaware, Iowa, Nebraska and Virginia, but will cease operations in 11 other states beginning next year, as reported by Breitbart.

A statement released by Aetna Chairman and CEO, Mark T. Bertolini, said that the company suffered “a second-quarter pretax loss of $200 million and total pretax losses of more than $430 million since January 2014 in our individual products.”

Aetna reports huge financial losses under Obamacare

Of the 11 million Americans covered under the Affordable Care Act, also known as Obamacare, 838,000 were Aetna customers, according to data compiled in June. Aetna is the third large insurer to scale back services under Obamacare.

UnitedHealth Group said it will also exit most exchanges next year, after it too suffered huge losses to the tune of $1 billion in 2015 and 2016. And Humana Inc., which covers about 800,000 people, will leave an estimated 1,200 counties in eight states in 2017.

Aetna stated that it will reconsider entering the market in the future, but for now plans to limit its services.

“We will continue to evaluate our participation in individual public exchanges while gaining additional insight from the counties where we will maintain our presence, and may expand our footprint in the future should there be meaningful exchange-related policy improvements,” said Bertolini.

Government: Just raise the premiums and you’ll be fine

The Obama administration says it’s the insurance companies’ own fault for losing money because they set their premiums too low, adding that despite major scale backs from insurers, the system will continue to provide good quality coverage to many.

“Aetna’s decision to alter its Marketplace participation does not change the fundamental fact that the Health Insurance Marketplace will continue to bring quality coverage to millions of Americans next year and every year after that,” said Kevin Counihan, CEO of HealthCare.gov.

Customers who are now forced to obtain insurance or pay a hefty fine that grows more costly over time are being left in a difficult position. Americans are essentially stuck between a rock and hard place, either losing coverage entirely, or having to cough up money for a plan they can’t afford.

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

Is a healthcare collapse on the horizon?

Others question whether a healthcare collapse may be on the horizon. “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,'” reports The Hill.

A March report published by the Blue Cross Blue Shield Association, said that new enrollees under Obamacare experienced 22 percent higher medical costs than people with coverage through their employer. The report drew immense controversy, highlighting the disaster that Obamacare has become.

Last year, a top doctor issued a dire warning about the possibility of a “catastrophic collapse” of the U.S. healthcare system. The former president of the Association of American Physicians and Surgeons said that the result “will leave Americans clamoring for medical attention, medical supplies and hospital care,” according to WND.

“Catastrophic collapse due to a ‘doctor death spiral’ will occur when we drop below a critical number of practicing physicians,” said Dr. Lee Hieb, a practicing orthopedic surgeon and author of Surviving the Medical Meltdown.

“As our population ages, it requires more physician man-hours of medical care. But as our population ages, so too do our physicians. More than half of the surgeons who cover emergency rooms are over 50.

“And although they are some of the most productive physicians, they are being overloaded and overstressed, and are beginning to burn out. Many are retiring early; others are dramatically reducing their patient loads.

“Recent surveys suggest up to 60 percent of physicians are preparing to do one or the other within two years,” said Hieb.

Read More At: NaturalNews.com

Sources:

Breitbart.com

TheHill.com

NPR.org

AustinSentinel.com

WND.com

Science.NaturalNews.com

Obamacare On “Verge Of Collapse” As Premiums Set To Soar Again In 2017

WHO'S SREWED IF OBAMACARE GETS THE AX?
Source: ZeroHedge.com
August 11, 2016

If Obamacare enrollments continue their current trend and insurers continue to hike premiums at alarming rates then Republicans may not have to worry about “repealing and replacing Obamacare” as it might just work itself out “naturally”.  The 4th open enrollment period for Obamacare begins on November 1, 2016 and industry experts are warning that another year of tepid demand from “young and healthy” Americans could force more insurers out of the exchanges effectively marking the end of Obamacare as we know it.  According to a story published by The Hill, 11 million people bought health insurance through the exchanges for 2016 which was drastically below the Congressional Budget Office’s initial projection of 21 million.

Well we’re shocked!  Turns out that whole “adverse selection bias” was a real thing.  So you’re telling us that young, healthy people don’t want to pay for insurance they know they’ll never use?  We guess America’s youth can actually do basic math, after all.  Apparently they were able to figure out they would rather take the lower tax associated with Obamacare penalties than the larger tax associated with buying a healthcare policy they’ll never use.  We guess Millennials are a little less enthusiastic about embracing socialism when the costs are coming out of their pockets.

With America’s youth continuing to shun health insurance, insurers are all racking up massive losses on the exchanges.  For many insurers the losses will simply result in massive premium hikes but others have decided to withdraw from the exchanges all together.  In fact, UnitedHealthCare recently announced plans to exit most state exchanges by 2017 (see our post entitled “Largest US Health Insurer Exits California, Illinois Obamacare Markets“)  Per The Hill:

In the last month, two major insurers – Aetna and Anthem – both reversed course on their plans to expand in the marketplace. Now, all five of the nation’s largest insurers say they are losing money on the exchanges.

 

“From a policy point of view, we’re basically seeing the exchanges unravel,” said Michael Abrams, a healthcare strategist with Numerof & Associates who consults for insurers including UnitedHealthGroup.

2016 average premiums were up substantially in most states (see map below) and, with no one making money, 2017 seems no better.  According to The Hill:

Already, many insurers this year are proposing substantial rate hikes with the hopes of making up for higher recent medical costs. The average premium increase next year is about 9 percent, according to an analysis of 19 cities by Kaiser Family Foundation. But some hikes are far higher: Blue Cross Blue Shield has proposed increases of 40 percent in Alabama and 60 percent in Texas.

Obamacare Premium Map

For her part, Hillary Clinton has vowed to stick with Obamacare insisting that taxpayers just need to spend more money on advertising to drive higher enrollments:

Clinton has already laid out plans to help boost enrollment by making coverage more affordable for people who are still priced out of ObamaCare.

 

Like Obama, she vowed to invest in advertising and in-person outreach to help more people enroll. Clinton would also increase ObamaCare subsidies so that customers spend no more than 8.5 percent of their income on premiums – down from 9.5 percent under current law.

 

She has also proposed a tax credit of up to $5,000 per family specifically to offset rising out-of-pocket costs – a side effect of cheaper plans offered under ObamaCare.

Right, more advertising should fix it because no one in the country is familiar with Obamacare.  As Obama likes to say when things don’t go as planned, it’s not that Obamacare is bad it’s just that we’ve failed to explain it properly.  No, we think people get it and they just don’t like it.   

We also find it hard to understand how a Clinton administration could make healthcare cheaper than “free?”  Perhaps we should start paying people to take taxpayer subsidized healthcare?  If at first you don’t succeed, throw more taxpayer money at it…