451 results for tag: Healthcare


Healthcare expert says some insurers could hike premiums by more than 10 percent

Those signing up for Obamacare are more so the “frequent fliers” than the young, healthy millennials the Obama administration was banking on to keep its disastrous health-insurance scheme afloat. Consequently, health-insurance companies are alleging they need to hike their premiums – some in excess of 10 percent, says one healthcare expert – to make up the difference and offset unexpected costs. The Washington Time has the details: The people signing up for Obamacare so far are sicker than expected, meaning insurers will have to raise rates to cover the costs, in what nonpartisan analysts said amounts to a “market correction.” Even ...

Deloitte executive: ‘A number of carriers need double-digit [premium] increases’ to make up for Obamacare losses

Obamacare is wreaking havoc on the profitability of health-insurance providers, some of whom anticipate double-digit increases to health-insurance premiums to make up for revenue shortfalls. POLITICO has the scoop: Just a week after the nation’s largest insurer, UnitedHealth Group, pulled out of most Obamacare exchanges because it anticipates $650 million in losses this year, Aetna’s CEO said Thursday that his company expects to break even, but legislative fixes are needed to make the marketplace sustainable. “I think a lot of insurance carriers expected red ink, but they didn’t expect this much red ink,” said Greg Scott, who oversees ...

Health-insurance prices expected to surge

Expect Obamacare health-insurance premiums to spike in the coming months as insurers like UnitedHealthcare exit the Obamacare marketplace. The Hill has the story: Many insurers have been losing money on the ObamaCare marketplaces, in part because they set their premiums too low when the plans started in 2014. The companies are now expected to seek substantial price increases. "There are absolutely some carriers that are going to have to come in with some pretty significant price hikes to make up for the underpricing that they did before,” said Sabrina Corlette, a professor at Georgetown University’s Center on Health Insurance Reforms, while ...

UnitedHealthcare is kissing the Obamacare marketplace goodbye

UnitedHealthcare, with the exception of a few states, is exiting the Obamacare marketplace in 2017, the CEO announced Tuesday. The Hill has the details: The announcement, made by CEO Stephen Hemsley on an earnings call, follows up on the company’s statement in November that it was considering dropping out of ObamaCare due to financial losses. The moves by UnitedHealth, the nation’s largest health insurer, have drawn attention for what they could indicate about the sustainability of ObamaCare as a whole. The Obama administration has downplayed the importance of UnitedHealth, saying the insurer is a fairly small player in the marketplaces, ...

Heads up: These 8 Obamacare co-ops will probably fail this year

The health-insurance co-ops created under Obamacare are falling like dominoes, with eight of the remaining 11 likely to collapse within the year, according to analysis from an investigative reporter. The Daily Caller has the scoop: Twelve of the original 23 federally financed co-ops have already collapsed. The co-op program was funded with $2.5 billion in 2010. “In general, there’s not a turnaround in sight. The same problems that plagued them before are continuing,” Thomas P. Miller, senior fellow at the American Enterprise Institute who previously served as the senior health economist for the congressional Joint Economic Committee, told ...

Obamacare penalties hitting taxpayer’s wallet

For those who have filed their taxes this year, the cost of Obamacare is hitting home. Newsmax has the story: "While the Affordable Care Act has failed to bend down the cost curve of health insurance, it has increased taxes on families and businesses alike," [Freedom Partners Chamber of Commerce Senior Policy Advisor Nathan Nascimento] writes. "April 15 has been a dreaded date for decades — and it's only getting worse." According to Nascimento, annual premiums for Obamacare's low-cost bronze plans averaged $2,484 for individuals and $12,420 for families with three or more children. "If you don't think this pricier insurance is worth the ...

Shocker: Obamacare enrollment doesn’t live up to Congressional Budget Office projections

It comes as no surprise that far fewer Americans are signing up for Obamacare than originally projected by those at the Congressional Budget Office. The Weekly Standard has the story: Three years ago, on the eve of Obamacare’s implementation, the Congressional Budget Office (CBO) projected that President Obama's centerpiece legislation would result in an average of 201 million people having private health insurance in any given month of 2016. Now that 2016 is here, the CBO says that just 177 million people, on average, will have private health insurance in any given month of this year—a shortfall of 24 million people. Indeed, based on the ...

Columnist: Flatlining Obamacare enrollment ‘hardly cause for a sixth-birthday celebration’

Obamacare turns six today but few Americans are celebrating, as the president’s signature health-insurance law has caused more harm than good and is falling far short of enrollment projections. Read Sally Pipes’ commentary: Enrollment in Obamacare has fallen well short of the administration’s own expectations. And some insurers are considering leaving the exchanges after losing millions. That’s hardly cause for a sixth-birthday celebration. This year’s exchange enrollment figures were far below expected totals. In March 2015, the Congressional Budget Office predicted that 21 million people would enroll in the exchanges in 2016. Then, ...

Obamacare co-op suing Obama administration for $5 billion – and it just might get the money

Health Republic Insurance of Oregon, one of nearly two dozen co-ops created under Obamacare and which participated in the Obamacare risk-corridor program – a program in which co-ops are reimbursed federal funds for incurring high claims costs – is suing the Obama administration for $5 billion and could circumvent Congress to get it. The Daily Signal has the scoop: According to legal experts, if the Obama administration decided to settle its class action lawsuit with Health Republic Insurance of Oregon, one of 23 co-ops started under Obamacare, and other insurers for all or part of the $5 billion it’s seeking, the money would come from the ...

An Obamacare insurer is suing the government for up to $5 billion

In case you weren’t aware that Obamacare isn’t working, one of its own creations is turning against the so-called Affordable Care Act to the tune of $5 billion. Health Republic Insurance of Oregon, one of the 20 or so struggling insurers created by Obamacare, wants as much as $5 billion from the U.S. government. The Obamacare co-op is bringing a class action lawsuit, alleging that the government has failed “to satisfy its monetary obligations” and will hurt millions of Americans through restricted health plans and rising insurance premiums. Of the 23 originally created, 12 Obamacare co-ops have closed, and nearly all of them lost money ...