ACA Government Co-Ops: Is This Experiment Working In Your State?

[AllenChicago]

News was released this week that HRINY, in addition to being in such a dire situation that immediate shutdown was required, has at least $142 million in outstanding claims payments due to hospitals.

This situation is getting very messy...

This is probably why there seems to be fewer doctors and hospitals in our Land of Lincoln Health Co-op every time I need to look one up. Word's getting around that they might be left holding a bag of IOU's. So they're bailing out.

 

[dgoldenz]

News was released this week that HRINY, in addition to being in such a dire situation that immediate shutdown was required, has at least $142 million in outstanding claims payments due to hospitals.

This is in addition to months of commissions, and a year worth of bonuses that were never paid to brokers.

They additionally have not paid their PBM, Express Scripts, and members no longer have drug coverage even though their premiums have been paid and HRINY can confirm active status.

It turns out, they didn't have a working termination system. Members stayed active for 12-18 months with no payment posted. They're currently trying to bill members for this coverage (huge bills, I've seen $6,000-10,000), and have hired a collection agency to directly pursue members.

The state has stepped in an put someone in place to oversee the wind-down, the company is now out of exec's hands.

GNYHA is lobbying for new laws that would create a healthy guaranty fund to retroactively pay providers what they are owed when carriers fail.

Since that's not in place, and not likely to pass, providers are left with two options- eat the loss, or bill patients.

This situation is getting very messy...

Well I, for one, am just shocked...who could have foreseen this?!

 

[somarco]

Well I, for one, am just shocked...who could have foreseen this?!

Pass that around. I want some of what you have been smoking.

 

[AllenChicago]

In case your color blind, let me categorize them for you:
Alive, dead, or dying?

Is that CO-OP dead? Or alive but dying? | LifeHealthPro

Interesting take Allen. I could see the backlash.

The article above says that the MERITUS Arizona Co-op was "Alive and Well" on October 29th, but here we are 3 weeks later and it's DEAD, according to this article:
Arizona Health Insurance Co-op to Close Shop Dec. 31

There's virtually no good news about anything related to ObamaScare for 2016. The President should get his head out of the sand, and the Congress should quit being wimps!

 

[sman]

The article above says that the MERITUS Arizona Co-op was "Alive and Well" on October 29th, but here we are 3 weeks later and it's DEAD, according to this article:
Arizona Health Insurance Co-op to Close Shop Dec. 31

There's virtually no good news about anything related to ObamaScare for 2016. The President should get his head out of the sand, and the Congress should quit being wimps!

In the immortal words of Joe Biden, this is a big eff'n deal.

I can't remember who it was, but they recently said that Obama talks harsher about Republicans than he does ISIS. Maybe he's got the Republican Congress scared of him. If I were running Congress I would pass bill after bill and make Obama veto them. It also puts Democrats on record as to where they stand.

There's a reason outsiders are leading in the Republican primary. It's because everybody is sick of politicians doing nothing but spend more of our money with nothing in return.

Many of us here gave this law 5 years to implode (from it taking full effect in 2014). Boy were we wrong. After two full years it's already beginning to implode. But we aren't politicians or the CBO so what could we possibly know?

Friggin b*stards!!!

 

[somarco]

Scott, I sense you are indecisive on this. Let me put you down as a maybe.

 

[sman]

Scott, I sense you are indecisive on this. Let me put you down as a maybe.

Yes, after my premium has more than doubled (for less coverage) and my taxes went up, I'm struggling to make up my mind how I feel about this law (insert sarcasm emoji).

It's amazing how many people I come across who were for this law at the time it passed and are now against it. Those would be the people who pay their own insurance and get no subsidy. It's also amazing how many people think it's great because they paid little to no monthly premium for a $500 deductible plan with a MOOP of $750. And now those same people are having to choose slim network HMO's to keep their premiums resembling what they paid in 2015. When I hear somebody b*tching about having to pay $50 per month for the plan I described above I feel like "junk punching them right up in their man business" (movie quote - I can't take credit for it).

 

[AllenChicago]

December 2, 2015

Arizona's Meritus co-op tried to save itself by converting into a "For Profit" health insurer. The Federal Government today said, No Way!

Story: Feds Tell Obamacare Co-op No For-Profit, Will Shut Down | The Daily Caller

How would converting to a For-Profit entity help a Co-Op survive? Premiums are Premiums...Claims are Claims. For Profit corporations pay more in taxes too, don't they?

 

[somarco]

For profit will allow them to attract investors (shareholders). Don't have to rely on taxpayer funding.

Shareholder funding worked so well for Assurant and UHC.

LOL.

 

[AllenChicago]

For profit will allow them to attract investors (shareholders). Don't have to rely on taxpayer funding.

Shareholder funding worked so well for Assurant and UHC.

LOL.

Thank-you for that information, Somarco. You're right.. Being For-Profit means nothing if the law under which a company must operate is bad. The Unaffordable Care Act works on health insurers & agents like rat poison. Yummy Yummy for a time, and then..BAM! R.I.P.