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#298748 - 02/15/17 10:43 AM A big insurer just quit Obamacare
pdx rick Offline
Member
Carpal Tunnel

Registered: 05/09/05
Posts: 40833
Loc: Puget Sound, WA

via Vox.com

Quote:
Humana announced Tuesday that it would no longer participate in the Obamacare marketplaces, making it the first major insurer to withdraw from the exchanges since Trumpís election.

In a statement to investors, Humana didnít talk about the current uncertainty surrounding the health lawís future. Instead, it cited problems from last year, suggesting that the people who signed up were sicker than the insurer expected. This was Humanaís statement:

Quote:
Based on its initial analysis of data associated with the companyís healthcare exchange membership following the 2017 open enrollment period, Humana is seeing further signs of an unbalanced risk pool. Therefore, the company has decided that it cannot continue to offer this coverage for 2018. Through the remainder of 2017, Humana remains committed to serving its current members across 11 states where it offers Individual Commercial products. And, as it has done in the past, Humana will work closely with its state partners as it navigates this process.
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#298749 - 02/15/17 04:46 PM Re: A big insurer just quit Obamacare [Re: pdx rick]
Greger Offline

Pooh-Bah

Registered: 11/24/06
Posts: 13904
Loc: Florida
And therein lies the problem with health insurance as a business model. If "for profit" insurance companies are allowed to pick and choose who they will insure to maximize profit, the higher risk and uninsured will invariably flock to emergency rooms for basic healthcare with no intention or ability to pay the exorbitant costs of ER care which, in turn, will result in hospital failures and closings or government subsidies. Ultimately these healthcare costs fall on the taxpayer. Yet Republican policy is to view all taxes as anathema even when those taxes ultimately reduce government costs as does the ACA by forcing healthy, low risk people to either buy insurance or pay a fee.
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#298751 - 02/15/17 06:40 PM Re: A big insurer just quit Obamacare [Re: pdx rick]
pdx rick Offline
Member
Carpal Tunnel

Registered: 05/09/05
Posts: 40833
Loc: Puget Sound, WA

Exactly. The real problem with ACA is that we cut in private industry - the profit motive. Given that ACA is actually the 1993 Republican HEART plan, cutting in the profit motive shouldn't be a surprise.

The problem with healthcare is the profit motive: You can't have life and death pitted against the motive profit.
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#298756 - 02/15/17 07:42 PM Re: A big insurer just quit Obamacare [Re: pdx rick]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7503
Loc: North San Diego County
You have to go one of two ways, if we want to prevent the death spiral of hospitals passing the uninsured costs on to insured customers. These are the cold hard economic facts.

1) Make health insurance MANDATORY with prison slave labor until you get insured.

or

2) Anybody can refuse to buy health insurance but they die in the ER parking lot after an accident or illness if they don't have the means to pay. That includes your house, your car, your life savings, etc. No exclusions.

Helping poor, sick, and old people buy health insurance is just details administrations can fiddle with. All the Medicaid & Medicare stuff can continue to exist.

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#298925 - 02/23/17 03:04 PM Re: A big insurer just quit Obamacare [Re: pdx rick]
Spag-hetti Offline
member

Registered: 09/10/08
Posts: 1649
Loc: Middle, USA
So, if we cut out the insurance companies, we could send our money to the government and save all the money that goes to profits. That would sure cut the cost to taxpayers who supplement those who cannot afford to pay much.

Makes sense to me.
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Just a Missouri school teacher ... stubborn as a mule and addicted to logic.

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#298928 - 02/23/17 05:59 PM Re: A big insurer just quit Obamacare [Re: Spag-hetti]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 7503
Loc: North San Diego County
Sure, but we have to get rid of the law that says Social Security is not allowed to negotiate drug prices, like big insurers and the VA do. As it is now, SS has to pay whatever list price is, even for a $62,000/year MS drug that costs the drug company about $25/year to make. And the drug companies can set list prices anywhere they like. This sort of extortion is not unusual at all for many new drugs.

They are using the patent laws to rob Social Security (and to a lesser extent the insurance companies) blind, which makes health care more expensive for all of us. I think we need a tweek to patent law as well, to say charging more that 1000% profit cancels the patent.

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#298943 - 02/23/17 10:35 PM Re: A big insurer just quit Obamacare [Re: pdx rick]
jgw Offline
member

Registered: 05/22/06
Posts: 1912
Loc: Port Angeles, WA
The problem with healthcare is, in my own mind, pretty simple. Healthcare should not be for profit but, rather, a social enterprise. If for profit healthcare continues then we might consider the Swiss solution, ie. to be in the health insurance business you must certain stuff stuff for free. Anything that is not free can be charged for. Its my understanding that Swiss insurance companies now own most of the hospitals there.

Hopefully I have this right <G>

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#298945 - 02/24/17 12:09 AM Re: A big insurer just quit Obamacare [Re: pondering_it_all]
Spag-hetti Offline
member

Registered: 09/10/08
Posts: 1649
Loc: Middle, USA
Good point, PIA. That would save us a bucket load. I'm disgusted by the drug companies' extorting sick people.
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#298946 - 02/24/17 12:33 AM Re: A big insurer just quit Obamacare [Re: pdx rick]
NW Ponderer Offline
Moderator
Carpal Tunnel

Registered: 09/09/11
Posts: 15921
Imagine my surprise today, when I got a bill from my wife's Medicare provider for an additional $805.92 for medications we paid for over the last year... My wife has been on SS disability for nearly 5 years, now, and thus Medicare. We dutifully pay our Medicare Advantage so that she can have the same medical care she has had for the last 20+ years. Suddenly her medication cost quadrupled, and now they are going back to last year to add that onto her bill. Same fixed income... something is not right.
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A well reasoned argument is like a diamond: impervious to corruption and crystal clear - and infinitely rarer.

Here, as elsewhere, people are outraged at what feels like a rigged game -- an economy that won't respond, a democracy that won't listen, and a financial sector that holds all the cards. - Robert Reich

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#298947 - 02/24/17 01:17 AM Re: A big insurer just quit Obamacare [Re: pdx rick]
rporter314 Online   content
old hand

Registered: 03/18/03
Posts: 6372
Loc: Highlands, Tx
are you saying you paid the bill 12months ago and now they send an additional bill ... how exactly does that work?

Imagine if Amazon decides to additionally bill me for something I paid for last year ... i would have to say ....really ...
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