UHC, They Are Releasing the News Monday....possibly Today

[somarco]

Assurant had a decent thing going decided to dabble in the exchange and are now gone.

United had a decent thing going decided to dabble in the marketplace and is suffering huge financial losses.

Cigna pulls out of Florida three weeks before open enrollment due to fraud.

Assurant's market penetration was spotty at best before 2014. Their decision to enter the exchange had nothing to do with their losses. They still would have lost their arse as an off-exchange player only.

UHC sat out 2014 then decided to play in 2015. I suspect their recent backpeddling had more to do with seeing loss figures for 2014 players plus DC pulling the plug on reinsurance reimbursement.

Cigna was another minor player with a limited IFP footprint. Not the first time they have entered and then left the market.

 

[Duaine]

UnitedHealth May Quit Obamacare Market in Blow to Health Law

The U.S.’s biggest health insurer is considering pulling out of Obamacare, a month after saying it would expand its presence in the program.

UnitedHealth Group Inc. is scaling back marketing efforts for plans it’s selling this year under the Affordable Care Act, and may quit the business entirely in 2017 because it has proven to be more costly than expected. It’s an abrupt shift from October, when the health insurer said it was planning to sell coverage in 11 new markets next year, bringing its total to 34. The company also cut its 2015 earnings forecast.

UnitedHealth May Quit Obamacare Market in Blow to Health Law - Bloomberg Business

 

[Millwood]

Can't figure out why UHC is crying about a $425 Million loss nationwide on the ACA policies. They are the BIG BOY.
Blue Cross of Texas lost that just inTexas !

 

[WiscBroker]

Can't figure out why UHC is crying about a $425 Million loss nationwide on the ACA policies. They are the BIG BOY.
Blue Cross of Texas lost that just inTexas !

Maybe as a for-profit company they don't want to lose money. Just a thought.

 

[AllenChicago]

UnitedHealth May Quit Obamacare Market in Blow to Health Law

The U.S.’s biggest health insurer is considering pulling out of Obamacare, a month after saying it would expand its presence in the program.

UnitedHealth Group Inc. is scaling back marketing efforts for plans it’s selling this year under the Affordable Care Act, and may quit the business entirely in 2017 because it has proven to be more costly than expected. It’s an abrupt shift from October, when the health insurer said it was planning to sell coverage in 11 new markets next year, bringing its total to 34. The company also cut its 2015 earnings forecast.

These media stories should say "BEFORE 2017". United Healthcare is dragging the entire sector down in the market today. They've just learned what the others have known for 2 years, and it frightens all the companies and investors? Give me a break.

 

[russelltw]

Because UHC has such low premiums most of NC, they are still going to get a lot of business even with 2% commissions. Many of my people are switching over to UHC because the premiums are just so low. They have a decent network here also. Add in the low MOOP and deductibles, I can see that lots of claims will be coming UHC's way.

 

[Justin Bilyj]

Great article about this!

This was a stunning revelation because, after all, the Affordable Care Act was largely drafted by the insurance industry itself, and if for whatever reason, it itself was unable to capitalize on Obamacare, then it has truly been a disaster.

Today we got confirmation of this when none other than the U.S.’s biggest health insurer, UnitedHealth, cut its 2015 earnings forecast with a warning that it was considering pulling out of Obamacare, just one month after saying it would expand its presence in the program.

According to Bloomberg, "UnitedHealth Group would scale back marketing efforts for plans it’s selling this year under the Affordable Care Act, and may quit the business entirely in 2017 because it has proven to be more costly than expected."

This was precisely what we cautioned on November 2.

Fast forward to today when UnitedHealth said in a statement that "the company is evaluating the viability of the insurance exchange product segment and will determine during the first half of 2016 to what extent it can continue to serve the public exchange markets in 2017."

Needless to say, the implications for Obamacare - which has seen a surge in tangential problems in recent months - are dire: "A pull-back would deal a significant blow to President Barack Obama’s signature domestic policy achievement. While UnitedHealth has been slower than some of its rivals to sell Obamacare policies since new government-run marketplaces for the plans opened in late 2013, the announcement may indicate that other insurers are struggling, said Sheryl Skolnick, an analyst at Mizuho Securities.

“If one of the largest and presumably, by reputation and experience, the most sophisticated of the health plans out there can’t make money on the exchanges, then one has to question whether the exchange as an institution is a viable enterprise,” Skolnick said.

UnitedHealth further said it suspended marketing its individual exchange plans and is cutting or eliminating commissions for brokers who sell the coverage.

Read More..

 

[STIBROKER]

oh man....Alex Jones is on it......

UnitedHealth Wants Out of Obamacare: Single Payer Socialism Begins » Infowars Alex Jones' Infowars: There's a war on for your mind!

UnitedHealth Group warned it may stop offering Obamacare coverage to individuals due to the program’s failures, which could usher in a “single payer” healthcare system even worse than Obamacare.

The nation’s largest health insurance provider said it lost money due to Obamacare’s disappointing enrollment and unintended consequences.

“The insurer’s withdrawal from the Obamacare exchanges would force nearly 550,000 Americans to find coverage from another provider,” USA Today reported. “UnitedHealth downgraded its earnings forecast, bemoaning low growth projections for Obamacare enrollment and blaming the federal health care law for giving individuals too much flexibility to change plans.”

 

[bluediamond]

Can't figure out why UHC is crying about a $425 Million loss nationwide on the ACA policies. They are the BIG BOY.
Blue Cross of Texas lost that just inTexas !

Stock Holders................................

 

[markinsurance5]

I know someone who claims they know people at UHC, and say its b/c uhc is making a move to get people everywhere to go against obamacare, for some reason. So this is going to hurt agents and create a ripple effect overall by them cutting commissions then possibly pulling out. Not sure how true that is, but it could be legit in some way. Either way, as a company they're really screwing up but it seems it's being done for maybe these reasons or something similar, since they did in the middle of OER, which makes no sense.

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aka to bill's comments, im not a newbie...but I did actually think about that at some point. It just looks like UHC is possibly taking a stand against obamacare or what my friend told me could be true