Pcip About Broke

[Yagents]

This closing is in addition to the other changes made to PCIP at the first of the year.............and they are still out of money:

Feds Increase Costs To High-Risk Pool Members – Capsules - The KHN Blog

 

[Ann H]

I haven't listened to it all, but it's clear that the senators (including democratic ones who supported the bill) are VERY concerned that exchanges won't be ready, stating that they don't see how it can be done. One even said we have to be careful that it doesn't crash and burn on October 1st.

Tater, Grassley's comments begin around the 1 hour 8 minute 13 second time, and he states his fears that there will be a rate shock. He details it quite well! He also explains the short timeline that insurance companies have, until the day we actually know what those premium rates will be.
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Mr Cohen at CCIO was asked directly about funding available in the PCIP plan just this week, knowing they were going to have to close it just a few days later. Listen to the less than honest answer.
Fast forward to the 1 hr and 6 minute mark of this video:

The United States Committee on Finance: Hearings - Health Insurance Exchanges: Progress Report

No kidding, he was less than honest. He just kept saying that they would take steps to make sure they did not exceed the $5 billion funding amount. He did not tell the Senate Finance Committee that 2 days later they would suspend enrollment! The Senator's questions clearly showed concern that the PCIP would be able to cover these people and transition them to the exchanges 1/1/2014, but Cohen completely evaded that.

 

[SportsNut]

PCIP apps suspended eff 2/16/13.

Wouldn't this just frost you if you had been uninsured for the past 5 1/2 months and just ready to apply in a week or two; SLAM goes the gate on your ins plan. Just like any gubment program, unstable and run by a group of incompetents.

 

[Yagents]

I know many that couldn't afford their cobra payments, did not take it, in anticipation of getting PCIP. I have a couple others that just got their decline letter, and will be shocked when they get my email informing them of the door being shut.

But, now you can feel comfortable offering ST MM plans and not hurting their chances of getting PCIP

This law is falling apart at the seams, and more fearful for my business as each piece of bad news comes. The politicians (dems) are even more scared though, which helps me sleep at night. Glad our leader will be around to take the brunt of this monster he created.

 

[bluemarlin08]

My brother was going to apply Monday, this is horrible news.

 

[somarco]

Glad our leader will be around to take the brunt of this monster he created.

Even though it bears his name, he had no part in crafting this mess. It was mostly Pelosi & Reid with a lot of help from sell outs that have since bailed from Congress.

 

[sman]

My brother was going to apply Monday, this is horrible news.

I assume he lives in a state where the PCIP program is administered by the Feds? If not, then he has a couple of weeks left.

 

[RichJ]

Even though it bears his name, he had no part in crafting this mess. It was mostly Pelosi & Reid with a lot of help from sell outs that have since bailed from Congress.

I'm sorry Somarco...

Reid and Pelosi were the leaders of this moronic piece of legislation, however it didn't become law until Dear Leader signed it.

He had a choice of signing it knowing it was going to be bad for the country or pulling the Veto trigger to make sure it was done right. We all know this was one of his major goals in Term 1 and there was no WAY he would not sign it not matter how horrible it was going to be.

 

[Yagents]

This is what will happen to insurance companies that can't raise rates enough to cover expected claims and hold reserves.

Hopefully the gov't now has a bigger appreciation for how to operate an insurance company.

Wonder when we'll see this news in the mainstream press.........nothing yet....

 

[somarco]

RichJ. In case you missed it, Obama voted "present" during the crafting of the legislation. Yes, he signed it, but that doesn't mean he owns it.

He never accepts blame for anything.