Tag Archives: Aetna

Blue Cross, Aetna, United, Humana opt out of Obamacare exchanges

From CNS News.

Excerpt:

Major health insurance companies – Blue Cross, Aetna, United, Humana – have fled the Obamacare health care exchanges in various states, which are scheduled to start on Oct. 1.

[…]The ACA requires every American to have health insurance, or pay a penalty.  Individuals who are not covered by their employer can enroll in the state or federal government-run health care “marketplace,” which will provide subsidies to individuals between 100 and 400 percent of the poverty line.

Aetna, a fortune 100 company with $34.2 billion in revenue, has pulled out of public exchanges in three states, and will not be part of the individual health insurance exchange in its home base, Connecticut.

[…]Aetna will also not participate in California’s exchange, and a spokesperson told CNSNews.com that the company never intended to do so.

“We did not withdraw exchange plans in California, as we never planned participation nor filed [Qualified Health Plans] QHPs to participate in the California exchange,” a spokesperson said.

Anthem Blue Cross has withdrawnfrom its bid to participate in the state’s small business exchange, as well.

United Health Group, the largest health insurer in the United States, has also taken a pass on the Golden State’s individual insurance market under Obamacare.

As a result, roughly 8,000 policyholders will be left searching for new insurance.

[…]Only three companies remain in Connecticut’s “Access Health CT” exchange, following Aetna’s departure.

Similarly, only five plans are participating in the exchange in Georgia, after Aetna and Coventry Health Insurance dropped out last week.

The Savannah Morning News noted that this will “leave residents of some parts of the state with limited choice.”

[…]Two of the three largest health insurers in Wisconsin will also not participate in the state’s online marketplace under Obamacare, it was announced on Wednesday.

But I thought that Obama said that people who liked their current health care plan could keep it?

“No matter how we reform health care, we will keep this promise: If you like your doctor, you will be able to keep your doctor, period,” Obama said on June 15, 2009.

“If you like your health care plan, you will be able to keep your health care plan. Period,” he said.  “No one will take it away. No matter what.”

That promise, however, has been revised by the Department of Health and Human Services (HHS), which now says, “you may be able to keep your current doctor” in the health insurance marketplace.

Oh I see, once the election is over, then the truth comes out. But it doesn’t matter, because Obama already won the election on the strength of the lie.

Related posts

Boeing announces higher health care premiums for 90,000 workers

From the Chicago Tribune.

Excerpt:

Aerospace giant Boeing is joining the list of companies that say the new health care law could have a potential downside for their workers.

In a letter mailed to employees late last week, the company cited the overhaul as part of the reason it is asking some 90,000 nonunion workers to pay significantly more for their health plan next year. A copy of the letter was obtained Monday by The Associated Press.

“The newly enacted health care reform legislation, while intended to expand access to care for millions of uninsured Americans, is also adding cost pressure as requirements of the new law are phased in over the next several years,” wrote Rick Stephens, Boeing’s senior vice president for human resources.

[…]Spokeswoman Karen Forte said the Boeing plan is more generous than what its closest competitors offer, and the company was concerned it would get hit with a new tax under the law.

The tax on so-called “Cadillac” health plans doesn’t take effect until 2018, but employers are already beginning to assess their exposure because it is hefty: at 40 percent of the value above $10,200 for individual coverage and $27,500 for a family plan.

[…]Boeing said annual deductibles and copayments will increase for all its plans next year.

Deductibles, the share of medical costs that employees pay annually before their plan kicks in, will go up to $300 for individuals, an increase of $100. For families, the new deductible will be $900, an increase of $300.

In addition, Boeing is instituting a copayment of 10 percent after the deductible has been met. The copayment will rise to 20 percent in 2012.

You can read more about companies affected by Obamacare here.

Who knows more about economics? Obama or people who run businesses?

Consider this article from The American Spectator, which talks about the Obammunist response to companies losing massive amounts of money because of Obamacare. (H/T ECM)

Excerpt:

By last Friday, AT&T, Caterpillar, Deere & Co., and AK Steel Holding Corp. had all announced that they were taking the one-time charges on their first-quarter balance sheets. More companies were expected to make similar announcements this week.

[…]On Friday White House chief of staff Rahm Emanuel and Obama senior advisor Valerie Jarrett were calling the CEOs and Washington office heads of the companies that took the financial hits and attacked them for doing so. One Washington office head said that the White House calls were accusatory and “downright rude.”

[…]”Most of these people [in the Administration] have never had a real job in their lives. They don’t understand a thing about business, and that includes the President,” says a senior lobbyist for one of the companies that announced the charge. “My CEO sat with the President over lunch with two other CEOs, and each of them tried to explain to the President what this bill would do to our companies and the economy in general. First the President didn’t understand what they were talking about. Then he basically told my boss he was lying. Frankly my boss was embarrassed for him; he clearly had not been briefed and didn’t know what was in the bill.”

[…]”We had memos on these issues, but none of our people, we think, looked at them,” says  a staffer. “When they saw the stories last week about the charges some of the companies were taking, they were genuinely surprised and assumed that the companies were just doing this to embarrass them.  They really believed this bill would immediately lower costs. They just didn’t understand what they were voting on.”

And more from National Review, where the CEO of Aetna was interviewed. (H/T Ace of Spades via ECM)

Excerpt:

Will insurance premiums go up?

The answer is yes, and some of the things that will drive those premiums are significant additional taxes the industry will ultimately have to pay in the first year.

The President said that this bill would not have any impact on people who already had coverage, that it was about the uninsured, that there would be no change. Will this legislation change the coverage of people who are already paying for it?

My perception is, yes, things will change. You might not have a plan that includes the exact same doctors. You might have plans that have richer benefits, and therefore you’re going to pay more for benefits you may or may not want. It would have been a better message to say, we’re going to make certain you maintain your eligibility.

The “Robin Hood” intention of giving to the unproductive by taking from the productive seldom pays off, since the productive are the ones who give people jobs. And a lot of people are going to lose their jobs because of Obama’s economic ignorance. Either that, or companies will raise their insurance premiums, so that the poor will have to pay more for health care. Obama doesn’t know what he is doing, he probably thinks that communism has made Cuba rich. He’s just trying to help poor America reach the opulence of communist North Korea.