Obamacare Death Spiral

forkie,

The calculator you provided suggested these results......Illinois family of 2 at modest $60K income cost is over $4800 a year. Hardly what I'd consider a bargain with the deductibles etc of your moronic Silver Plan.

You really need to get yourself a life, because clearly you need one.

Oh Goodness ! ! ! DonDiego didn't really think forkush could answer his questions. But, . . . gee willikers, . . . forkushV's reference is 15 months old; lots has happened since then.

The Hill's current headline reads: The Big ObamaCare Bubble.

Some excerpts:
__"Joe Cortelli, a health insurance expert from the nationwide consulting group HIG, explains:
'We have done nothing to improve the outcomes of the 10% of the population that drives 80% of our claims costs. We have merely pumped billions of dollars into these [ObamaCare] exchanges masking the real problems. Unless the government can continue to pump money into these exchanges, the end result is not that hard to imagine. It is not a question of how, but when, this will all come home to roost.' "

__". . . As noted in the Fiscal Times, 'The combination of market forces and limitations imposed by the [ACA] will put enormous pressure on insurers to up their premiums.' The pressure on insurers is undeniable, including the $650 million losses recently reported by UnitedHealth."

__"With these losses, rates on the exchanges are exploding. Exchange premiums in Michigan are set to jump up to 17.3 percent. Virginia average premium increases could go as high as 37.1 percent. Comparing the state monthly premium averages from 2013 to 2016, almost every single state has increased significantly. There is no stop-loss. In fact, two of three federal programs to manage this exact risk are due to expire in 2017. Without these programs to fall back on, many insurance companies likely will need to jack up their premiums even higher or bail out of the exchanges all together."

__"With more doctors jumping ship and healthy patients choosing to take the annual penalty rather than buy extremely overpriced exchange plans, what's left to avoid a healthcare economic freefall? President Obama and Democratic nominee Hillary Clinton both have recently touted a renewed push for a government funded 'public option'. What irony, as the 'public option' looks an awful lot like the government bailout of the mortgage banks. Only here the big health systems and insurers are too big to fail. "
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OH LOOK ! The Obama and The Hillary are proposing a "A NEW GOVERNMENT PROGRAM" to bail out The Obamacare.

Whatever parameters of The Obamacare on which the Congressional Budget Office based their conclusion a year-and-a-half ago have long been supplanted by reality, . . . and it ain't pretty.

It looks like those independent analysts who warned before the Law was instituted that The Obamacare was gonna get real expensive and was likely not sustainable were right all along.
DonDiego, for one, is not surprised.

To save everyone time, I cited a new article that summarized a report from the Congressional Budget Office. DonDiego quoted an editorial written by a lawyer you never heard of. That's par for the course for both of us.

Aetna quits most Obamacare markets

IhateQuitters

About 20 percent of companies in the New York region say they are cutting their workforce in response to the Affordable Care Act, according to a new Federal Reserve Bank of New York survey.

And most companies said they will be paying more in insurance premiums, and requiring their workers to pay a bigger share of those premiums, as a result of Obamacare.

hoops2's source: Obamacare Killing Jobs in New York Area

And an accompanying opinion piece: Obamacare is Failing

The truth comes out. It turns out this was a hostage situation over enforcement of anti-trust laws.

$300m in losses had nothing to do with the decision?

Aetna, UnitedHealth Group, Inc., and Humana have already pulled back their participation in ACA public exchanges for 2017.

Aetna is pulling back from 11 exchanges (states) to four.

United sold coverage in 34 states. Next year they will cover three.

They all experienced huge losses covering people with major health problems rather than the number of "healthy people" they expected. And high priced specialty drugs they paid for.

Anyone relying on tax credits for affordable insurance better get ready...you may find yourself with no coverage or very high priced insurance. In fact, just about everybody better prepare to bend over and take it, premium-wise.

What I can't believe is that these companies didn't expect this, that they 'bought' that everything would be peachy keen. Who were they relying on for information?