During the healthcare debate of 2009 and 2010, conservatives screamed a simple fact from the rooftops: Obamacare will not work. No one wanted to listen then, but their warnings are now coming into fruition.
Obamacare, as constructed, attempted to fix a dysfunctional health care payment system by creating an even more complicated system on top of it, filled with subsidies, coverage mandates, and other artificial government incentives. But its result has been a system that plucked Americans out of coverage they like and forced them to pay more for less.
Now the insurers are beginning to realize that in spite of all the subsidies and mandates working in their favor, and despite all of the cost-cutting they have had to do at the expense of consumers, they just can't make money in this system.
In a Tuesday conference call with investors, the CEO of America's largest insurer announced that his company would be hastening its pullout from the ..., and will remain in just a handful of state marketplaces. UnitedHealth lost an estimated $425 million last year on its Obamacare marketplace activity, and it's decided that enough is enough.
Get government OFF our backs and tie it down with constitutional chains.
You got that right.
Standard libTARD fare, it MUST be a mental aberration to be a democrap!
Now watch as they hit taxpayers with BAIL-OUTS GALORE!!! Some of you actually VOTED for this leftist agenda, how do you like it NOW???
LAST LAUGH IS STILL ON US. After April 18th now they will be funded from tax fines from those who can't afford insurance to keep doing whatever they want. And we know that isn't making sure everyone can afford and get healthcare.
I'm self employed though.
What law prohibits the IRS from filing a lien? Do you know, Tom? Please share info if you have it.
Though largely ignored by a media obsessed with a contentious election cycle, Obamacare's demise is a developing and legitimate news story.
UHC was one of several insurers reporting huge losses as early as 2014. Despite the administration's wildly exaggerated claims to the contrary, enrollment has been stagnant, often falling below Congressional Budget Office projections. Other problems include those enrolling simply to dodge the "penalty" and never paying a dime in premiums.
The industry's biggest challenge is an uncharacteristically gutsy move by Congressional Republicans last December which virtually dismantled the so-called Risk Corridor, the baked-in provision for compensating losses to insurers, or, tax-payer bailouts. But shed no tears for them. Even more corrupt than the law itself was the community of drooling corporate maggots slopping away at the public trough, happy to sacrifice scruples for for tax-levied profits. Even a business college dropout could have predicted then that Obamacare would never work.
problem is though, few are willing to sacrifice (just say NO, do without HC insurance) or simply make the deduction changes necessary to not have a return coming (0% loan to fed/gov) to deduct the penalty from.
Tom Gallagher-- That's a good point. Restrictions against garnishments helps consumer mores than the underwriting community. Insurers are crying poverty over last year's average compensations of 12 to 13-cents on the dollar.