SC Co-op Consumers' Choice is Out
- Thread starter miscins
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Agreed Ann. Why would people who RUN insurance companies believe people who have NEVER run an insurance company (they might have experience in academia). The insurance companies saw the big dollars promised them. Now the tides have changed in DC.
Two items used to sell ACA to insurance companies continue to not hold true:
1 - Claims will start going down in second year.
2 - Young people will sign up in second year.
Neither have happened and if 1 doesn't stop, it doesn't matter how many young people you get enrolled....
I was told by an exec that the plan was for some companies to make a profit and have to pay money to the carriers that had bad claims. Turns out everyone had bad claims and now there is no money to move around.
Two items used to sell ACA to insurance companies continue to not hold true:
1 - Claims will start going down in second year.
2 - Young people will sign up in second year.
Neither have happened and if 1 doesn't stop, it doesn't matter how many young people you get enrolled....
I was told by an exec that the plan was for some companies to make a profit and have to pay money to the carriers that had bad claims. Turns out everyone had bad claims and now there is no money to move around.
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Close. Turns out everyone was under-priced.
Ever hear of the "prisoner dilemma"? The government created one with this program. A textbook example honestly, they couldn't have done a better job if they sat down and planned it this way.
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USS ObamaCare put the insurers in a life raft with one week's supply of food. Now the food is running out and insurers are getting desperate. We breathed a collective sigh of relief when HCSC (BCBS IL, Tx, etc.) announced yesterday that it wasn't cutting commissions for 2016. Agents won't be the next menu item on HCSC's scavenger list.
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