UnitedHealth warns it may exit Obamacare plans

[Peter1469]

UnitedHealth warns it may exit Obamacare plans (http://www.usatoday.com/story/money/2015/11/19/unitedhealth-group-earnings-downgrade-obamacare-affordable-care-act/76040322/)
They are the largest health insurance provider in the US. And they are planning on leaving Obamacare in 2017.


The nation's largest health insurance provider dealt a blow to the Affordable Care Act on Thursday. UnitedHealth Group warned it may stop offering coverage to individuals through public exchanges after taking a big hit to its bottom line.

The insurer's withdrawal from the Obamacare exchanges would force some 540,000 Americans to find coverage from another provider.


UnitedHealth (UNH (http://www.usatoday.com/money/lookup/stocks/UNH/)) 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. People who purchase insurance through the public exchanges are typically heavy users of their plans, draining insurers' profits, analysts say.

[Common]

This is very bad in the sense if United Pulls out, other big insurers may pull out also.


Bad Obamacare News Is Real. That Doesn't Mean Obamacare Is Dying.


The Affordable Care Act has gotten some bad news lately. It's not a sign of impending disaster, as the law's critics say, but it may be a sign of some real problems on the horizon.
UnitedHealth Group announced (http://www.huffingtonpost.com/entry/united-health-exit-obamacare-exchanges_564dd75de4b00b7997f9585b?tz3q5mi) on Thursday that it has lost $425 million on the policies it has been selling through the Obamacare exchanges. The reason is pretty simple, according to Stephen Hemsley, the company’s chief executive officer: UnitedHealth hasn’t attracted a sufficiently balanced mix of healthy and sick customers.
Instead, Hemsley said, the company was seeing a large number of people with high medical bills -- or, more precisely, a larger number than it had expected. As a result, the premiums UnitedHealth is collecting for these policies aren’t enough to offset the high medical bills the new enrollees are generating.
Insurance stocks fell (http://www.fool.com/investing/general/2015/11/19/why-health-insurance-stocks-are-down-big-today.aspx), in part because UnitedHealth's disclosure signaled an abrupt change in tone. Just a month ago, another executive said his company was enthusiastic (http://bigstory.ap.org/article/6f51129b31e945189fc44480c83eaabf/unitedhealth-dives-deeper-public-insurance-exchanges) about the exchanges -- and expected its market share to grow, despite some early signs that enrollment was matching the company's low predictions. During an investor call on Thursday, Hemsley was decidedly more downbeat.
“We can’t sustain these losses,” he warned, adding that the company was re-evaluating its commitment to the exchanges and may even pull out of the markets altogether, Modern Healthcare (http://www.modernhealthcare.com/article/20151119/NEWS/151119858) reported.
Investor calls are not always the most reliable indicator of corporate intentions and, by itself, UnitedHealth’s dour pronouncement (http://www.unitedhealthgroup.com/%7E/media/UHG/PDF/2015/UNH-Q4-Release-EarningsUpdate.ashx?la=en) doesn’t say much about the health insurance exchanges as a whole. Although UnitedHealth is the nation’s largest insurer, most of its business comes from coverage it provides to or through employers, as well as to seniors in the Medicare Advantage program.
UnitedHealth continues to make hefty profits in those other insurance segments, and its business model, which emphasizes breadth and size, actually makes it a poor fit for selling directly to individuals. UnitedHealth approached the exchanges more cautiously (http://www.bloomberg.com/bw/articles/2014-07-17/unitedhealth-plans-to-sell-insurance-in-more-obamacare-exchanges)than its competitors during their first year and, today, it has just a bit more than 500,000 exchange enrollees (http://www.wsj.com/articles/unitedhealth-revenue-surges-but-bottom-line-flat-1444904676). That’s about 5 percent of the total market.


http://www.huffingtonpost.com/entry/obamacare-dying-unitedhealth_564e25dce4b00b7997f9dd0c

[Gypsy]

It may be the open door to universal healthcare.

[Common]

It may be the open door to universal healthcare.

That depends on alot of factors, who wins the election, the makeup of congress but im myopinion were not close to that

[Gypsy]

Probably not, but it could make it happen sooner than later.

[leekohler2]

Probably not, but it could make it happen sooner than later.

If the GOP had not killed the public option, this would not be happening right now. I think you might be on to something. Let's hope you are.

[zelmo1234]

Probably not, but it could make it happen sooner than later.

Hope not, we have enough rationing of services already. I don't think we need to move toward even more declining of treatments, just to save money.

[zelmo1234]

If the GOP had not killed the public option, this would not be happening right now. I think you might be on to something. Let's hope you are.

The GOP had the power to do nothing, it required NO GOP votes and received no GOP votes.

So you can stop with the blaming of anyone but the Democrats and Obama.

[Common]

Hope not, we have enough rationing of services already. I don't think we need to move toward even more declining of treatments, just to save money.

Its going to happen eventually zelmo

[Jets]

I cannot see UHC a possible outcome until the insurance lobbys influence over Congress is reduced. We have a better chance of passing the Singapore 3M model before UHC.

IMHO

[Cigar]

I'll add this to the list of Right-Wing Predictions.

[Peter1469]

Notice: Duplicate threads merged

[Chris]

Shikha Dalmia again, this time on The quiet unraveling of ObamaCare (http://theweek.com/articles/589920/quiet-unraveling-obamacare):


... last week brought arguably the worst news for the [ObamaCare] program since the healthcare.gov debacle: UnitedHealthcare, the nation's largest insurer, announced that it might quit ObamaCare's exchanges next year. Should UnitedHealthcare act on this threat, there may not be enough (red) tape in the desk drawer of even future President Hillary Clinton to put the ObamaCare Humpty Dumpty back together again.

United announced during an investor briefing Thursday that it was expecting a whopping $425 million hit on its earnings this year, primarily due to mounting losses on its ObamaCare exchange business. "We cannot sustain these losses," United CEO Stephen Hensley declared. "We can't really subsidize a marketplace that doesn't appear at the moment to be sustaining itself."

...

[Cigar]

Again :laugh:

[Chris]

Again :laugh:

Except this time it's collapsing from within unable to sustain itself.

[Cigar]

Except this time it's collapsing from within unable to sustain itself.

Ok ... then the critics who want it to go away should be happy :laugh:

[Common]

I was for obamacare and Im still for all americans having health care but the truth is the truth obamacare sucks. As I see it now its done more harm than good. A few people I know thats have and had it are dropping it.

My friend that passed away wife who I got obamacare for told me yesterday she dropped it. It went to 720.00 a month for one person and she paid out of pocket 400.00 for one test and 200.00 for another plus copays. Shes going to tough it out till she qualifies for medicare.

Obamacare needs to be totally revamped

[Peter1469]

Notice: Duplicate threads merged

[Professor Peabody]

UnitedHealth may exit Obamacare individual exchanges

By By Caroline Humer | Reuters – 6 minutes ago

(Reuters) - UnitedHealth Group Inc raised new questions about the viability of Obamacare on Thursday, saying that in 2017 it might stop selling individual plans on the insurance exchanges created under U.S. President Barack Obama's healthcare law.

The largest U.S. health insurer cited weak enrollment and high medical costs for people who did sign up. Rivals Aetna Inc and Anthem Inc said last month that they were seeing too few people enroll but have not signaled they would exit the business.

https://ca.news.yahoo.com/health-insurer-unitedhealth-cuts-full-profit-forecast-110805557--finance.html

The house of cards is beginning to crumble. It was bound to come to this. The major insurers will continue to drop out and all those wonderful choices Obama bragged about will likely come down to one 60/40 bronze plan....take it or pay the fine. Good luck getting an appointment or any treatment that wasn't considered "Health Maintenance" where the doctors receive full compensation.

Obamacare 'paid' enrollment drops to 9.9M (http://www.cnbc.com/2015/09/08/obamacare-paid-enrollment-drops-to-99m.html)

Folks found out pretty quick that Obama Care was rife with....

Narrow networks leave some Obamacare consumers lacking options (http://www.miamiherald.com/news/health-care/article10025174.html)

Obamacare doctor networks to stay limited in 2015 (http://www.latimes.com/business/la-fi-0928-obamacare-doctors-20140928-story.html)

Keeping Your Doctor Under Obamacare Is No Easy Feat (http://swampland.time.com/2014/01/01/keeping-your-doctor-under-obamacare-is-no-easy-feat/)

Narrow networks, limited choices in conjunction with high deductibles and even higher yearly out of pocket costs in addition to the monthly premiums. Obama Care appears to be circling the drain.

[Peter1469]

Notice: Duplicate threads merged

[Professor Peabody]

Notice: Duplicate threads merged

Sorry my friend, I searched for United Health Care instead of UnitedHealth Care

[TrueBlue]

UnitedHealth warns it may exit Obamacare plans (http://www.usatoday.com/story/money/2015/11/19/unitedhealth-group-earnings-downgrade-obamacare-affordable-care-act/76040322/)


They are the largest health insurance provider in the US. And they are planning on leaving Obamacare in 2017.
That is deemed unfortunate news. The biggest losers however, are their customers enrolled in UnitedHealth plans. But that can only show that Obamacare is truly working since people are obviously using it for their health matters rather than rejecting it through mere spite! Another big PLUS for those enrolled in Obamacare are the conditions given that will obviously help most everyone by not having to face insurance drops or penalties for pre-existing conditions. Families can also keep their children on the plan for much longer than without having Obamacare. Who in their right mind would not want to have coverage for that! The winners will be the other insurance companies that are not copping out from offering coverage to whomever applies. They will obviously capitalize on United's proposed withdrawal. And with millions upon millions of new customers, insurance companies like Blue Cross-Blue Shield, for one of others, will have more than enough money to cover costs incurred since not everyone runs up huge hospital or doctor bills.

[Peter1469]

That is deemed unfortunate news. The biggest losers however, are their customers enrolled in UnitedHealth plans. But that can only show that Obamacare is truly working since people are obviously using it for their health matters rather than rejecting it through mere spite! Another big PLUS for those enrolled in Obamacare are the conditions given that will obviously help most everyone by not having to face insurance drops or penalties for pre-existing conditions. Families can also keep their children on the plan for much longer than without having Obamacare. Who in their right mind would not want to have coverage for that! The winners will be the other insurance companies that are not copping out from offering coverage to whomever applies. They will obviously capitalize on United's proposed withdrawal. And with millions upon millions of new customers, insurance companies like Blue Cross-Blue Shield, for one of others, will have more than enough money to cover costs incurred since not everyone runs up huge hospital or doctor bills.


I use to have UnitedHealthcare. I have a different insurer now.

[HoneyBadger]

How many of the Obamacare cheerleaders on this forum actually have to use the exchange?

As a self employed American, I have to tell you it SUCKS. My monthly premiums (2 health adults, no preexisting conditions) are higher than my mortgage was 10 years ago. My deductible is so high it makes this basically a catastrophic plan with a very limited network. Actually, it's worse than a catastrophic plan because under Obamacare, I have to pay thousands of dollars more in one year before benefits actually kick in.

Is it really worth it to harm millions of citizens to help thousands? In what twisted universe does that actually make sense?

[Peter1469]

How many of the Obamacare cheerleaders on this forum actually have to use the exchange?

As a self employed American, I have to tell you it SUCKS. My monthly premiums (2 health adults, no preexisting conditions) are higher than my mortgage was 10 years ago. My deductible is so high it makes this basically a catastrophic plan with a very limited network. Actually, it's worse than a catastrophic plan because under Obamacare, I have to pay thousands of dollars more in one year before benefits actually kick in.

Is it really worth it to harm millions of citizens to help thousands? In what twisted universe does that actually make sense?


It is a wealth redistribution program.

[leekohler2]

I was for obamacare and Im still for all americans having health care but the truth is the truth obamacare sucks. As I see it now its done more harm than good. A few people I know thats have and had it are dropping it.

My friend that passed away wife who I got obamacare for told me yesterday she dropped it. It went to 720.00 a month for one person and she paid out of pocket 400.00 for one test and 200.00 for another plus copays. Shes going to tough it out till she qualifies for medicare.

Obamacare needs to be totally revamped

Yes, we need UHC. Obamacare (really Romneycare) is a bandaid til we get there.