Wednesday, August 17, 2016

Health Insurers Throw Tantrum Because Profits Not Obscene Any More

Poor babies.  Obamacare exchanges reduced their profits to merely outrageous and disgusting. How will they ever survive?

By bitching and pissing and moaning and holding their breath until they turn blue in the hopes somebody will kill off that health-care-for-everyone Affordable Care Act and let them get back to fucking over everybody who is not a healthy 25-year-old and making obscene profits at the expense of working people.

Governor Shitting His Pants to use this corporate fraud to justify killing off the last vestiges of kynect, along with the hundreds of thousands of Kentuckians who depend on it to keep them alive, in 3, 2, 1 ....

Aetna’s announcement comes after UnitedHealth said in April it would be cutting its marketplace involvement significantly, and Humana has also signaled a retreat from ACA exchanges. All three decisions have prompted Republicans to declare that Obamacare is failing and that they were right all along. But experts say some of the criticisms miss the nuance on what is actually driving the cutbacks.

“It’s not a statement that the marketplaces can’t work or that they aren't working," Linda Blumberg, a healthcare policy fellow at the Urban Institute, told TPM. "It’s a statement that these insurers are by and large not terribly competitive the way they came in, and if they are going to make money in this market they're going to have restructure and re-orient to the characteristics of what the consumers want.”


Not every carrier is struggling on the exchanges, and consumers’ willingness to shop around for deals has benefited insurers that offer plans that are on the cheaper end.

“There are insurance companies that are doing well and those are companies that have experience serving a low-income population,” Cox said.

Many of those carriers offer plans with narrow provider networks, while big insurers like Aetna and UnitedHealth have tended towards broader provider plans, which offer consumers more choices but at a higher cost.

“What consumers are showing time and again on these marketplaces is that they are very willing to trade a broad choice of providers for a low price, and the carriers that figured that out early are the ones that seem to be doing well,” said Sabrina Corlette, a research professor at the Center on Health Insurance Reforms at Georgetown University's Health Policy Institute.

There is the possibility that the big insurers who are now pulling back will re-enter the marketplaces once they're better equipped to meet its demands. UnitedHealth, for instance, kept its new, more boutique-style subsidiary, Harken Health in the Indiana and Georgia exchanges where the insurer was otherwise withdrawing. It has signaled it could expand Harken Health to Florida.

"I would expect that, in a lot of those areas, they'll come back in. But they'll come back in with different looking products that are more similar to the ones that are competing well,” Blumberg said.
It's called competition, motherfuckers. 

1 comment:

Lawrence said...

This is the thanks President Obama and the 111th Congress gets for giving them all those new customers? Fuck the insurance industry. Mergers? Don't even ask. The new climate is antitrust enforcement. And bring back the public option. And while we're at it, a public option for banking in the form of postal banking. Let's institute some backdoor price controls on these leeches.