Company Medical Loss Ratios Now Available at Healthcare.gov
- Thread starter AllenChicago
- Start date
- Thread starter
- #13
- 8,448
Carriers have a target on their backs and are being pressed out of existance because that's how Senator Obama envisioned getting from a Market-Based healthcare system to a Government-Based healthcare system.
This brief YouTube video is an excerpt from one of many speeches and interviews he conducted in 2002 thru 2005 advocating "Single Payor" government run healthcare.
What I don't understand is WHY the health insurance industry is not fighting back against this blatant (as Somarco pointed out) systematic plan by the Government to force them into obsolescense.
Are the carriers that willing to put up tons of new regulations, taxes, fees, forced benefits, meager profits and HHS scrutiny just on the hope that they'll gain a few customers?
From what I'm reading, there will be FEWER people with health insurance in 2014 than have it now. Higher Premiums with only a $95 annual non-compliance penalty, combined with Guaranteed Issue and No Pre-existing Conditions Exclusions equates to fewer people owning health insurance, doesn't it? Are health insurance executives not thinking this through, or are they waiting to see if Obama gets re-elected before closing down and taking the equity.. before it's all drained out of the company by the ACA?
There's no doubt that the Obama Administration would rather see this happen sooner, rather than later. In fact, there is probably some internal HHS preparation being made right now to assume customers of health insurers once the shutdowns reach a certain point. Single Payor Government (Medicare For All) healthcare is on it's way, using the back-door method...exactly as Obama predicted in 2003.
-AC
Hey.. I didn't want to take up so much space by having the video imbedded here! Only wanted a link to the video. Maybe it's how YouTube operates...
This brief YouTube video is an excerpt from one of many speeches and interviews he conducted in 2002 thru 2005 advocating "Single Payor" government run healthcare.
What I don't understand is WHY the health insurance industry is not fighting back against this blatant (as Somarco pointed out) systematic plan by the Government to force them into obsolescense.
Are the carriers that willing to put up tons of new regulations, taxes, fees, forced benefits, meager profits and HHS scrutiny just on the hope that they'll gain a few customers?
From what I'm reading, there will be FEWER people with health insurance in 2014 than have it now. Higher Premiums with only a $95 annual non-compliance penalty, combined with Guaranteed Issue and No Pre-existing Conditions Exclusions equates to fewer people owning health insurance, doesn't it? Are health insurance executives not thinking this through, or are they waiting to see if Obama gets re-elected before closing down and taking the equity.. before it's all drained out of the company by the ACA?
There's no doubt that the Obama Administration would rather see this happen sooner, rather than later. In fact, there is probably some internal HHS preparation being made right now to assume customers of health insurers once the shutdowns reach a certain point. Single Payor Government (Medicare For All) healthcare is on it's way, using the back-door method...exactly as Obama predicted in 2003.
-AC
Hey.. I didn't want to take up so much space by having the video imbedded here! Only wanted a link to the video. Maybe it's how YouTube operates...
Last edited by a moderator:
Health insurance has been marginally profitable for some time now. Coverage is offered as a "loss leader" in many situations in order to gain access to other lines that are profitable.
If the health insurance no longer has a possibility of generating profits, there is no reason to continue that line of coverage. The cash flow and investment profits have been used to support other avenues in the past.
With underwriting gains becoming more difficult, and investment gains in a stalled economy minimized, there is not a lot of incentive to continue offering the products.
Supplemental lines (accident, dental, CI, Medigap, etc) are (mostly) unregulated and not (for now at least) subject to MLR.
Some of the larger carriers are snatching up health care related lines including MCO's, information technology and ACO's.
Reforms Prod Health Insurers to Diversify - WSJ.com
Health insurance companies’ push to diversify raises concerns - The Washington Post
Health insurers diversify away from regulations | 2011-03-23 | Indianapolis Business Journal | IBJ.com
If Obama is re-elected it is game over for most of them, at least when it comes to fully insured products.
Even with the loss of IFP and small group (which drives many carriers) there is a possibility that many groups under 500 lives or so will drop coverage, pay the penalty, and let employees find their own plan.
Don't count on it.
In theory, yes, but from a practical standpoint, no.
PCIP was a failure when considering the projected participation vs. actual, but even with missing the projection by 80% they soon ran out of money and were "surprised" at the loss ratio's. Funding for PCIP is a weighty anchor that is causing HHS to scale back on promoting it. Some states have already closed the doors for new entrants while others will follow suit in the next few months.
DC finally figured out they don't have the money to fund exchanges which is why they are pushing the states to set them up.
Problem is, the states are pushing back and refusing to establish the exchanges.
SCOTUS also gave states a gift on Medicaid expansion.
Now DC is in a quandary. They have created this beast but no way to fund it and advance it.
Even if Congress doesn't dismantle Obamacare it will collapse under its' own weight.
- Thread starter
- #15
- 8,448
Update - October 28, 2013
REF: http://finder.healthcare.gov/
The above link illustrates how healthcare.gov was supposed to function. But it was too simple, straight-forward and in-expensive. If federal government was a person, it would be diagnosed as having parasuicide self-injury disorder.
REF: http://finder.healthcare.gov/
The above link illustrates how healthcare.gov was supposed to function. But it was too simple, straight-forward and in-expensive. If federal government was a person, it would be diagnosed as having parasuicide self-injury disorder.
- Thread starter
- #16
- 8,448
November 23, 2015
Medical Loss Ratio (MLR) rebates to insureds are very small this year because the government is doing such a good job of keeping insurance companies honest! That's essentially what this year's CMS highlight report says.
https://www.cms.gov/CCIIO/Resources.../Downloads/2014_Medical_Loss_Ratio_Report.pdf
Medical Loss Ratio (MLR) rebates to insureds are very small this year because the government is doing such a good job of keeping insurance companies honest! That's essentially what this year's CMS highlight report says.
https://www.cms.gov/CCIIO/Resources.../Downloads/2014_Medical_Loss_Ratio_Report.pdf
- 948
I find the part of this report discussing benefits to the consumer laughable. I'd like them to talk to anyone who is looking at these really high priced plans with no coverage (at least not things my customers want - like maternity - even after deductible) and tell them how lucky they are that the government is protecting them . . . .
