The private Obamacare market is crashing. Aetna has lost just under a billion dollars since 2014 and will pull out of all the individual markets by 2018. The remaining insurers are raising the already unaffordable premiums and there are plans for them to drop out in the near future.
Aetna released a statement:
“Our individual Commercial products lost nearly $700 million between 2014 and 2016, and are projected to lose more than $200 million in 2017 despite a significant reduction in membership. Those losses are the result of marketplace structural issues that have led to co-op failures and carrier exits, and subsequent risk pool deterioration,” the company said in a statement Wednesday.
Humana has already announced it is leaving and Anthem is considering exiting some or all.
United Healthcare has exited most exchanges.
UnitedHealthcare and #Obamacare
2016: Exchanges in 34 states
2017: Exchanges in 3 states
2015 & 2016: Lost over $1 billion on Obamacare— Fox News Research (@FoxNewsResearch) May 5, 2017
Five states—Alabama, Alaska, Oklahoma, South Carolina and Wyoming— and 31 percent of counties across the country currently only have one ObamaCare exchange provider.
Premiums in Maryland, Virginia and Connecticut will go up an average of 20%.
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The Democrats insist Obamacare not be repealed. The only way to fix it is with a worse system — a completely government-run healthcare system.
That was always the end goal of Obamacare. If you think Obamacare is bad, then full government healthcare would be far worse.
It can’t be fixed because it is based on a false premise that the young will pay for the older and sicker clients. That didn’t happen and won’t.
If something isn’t done, Obamacare could take the entire healthcare system down with it. Obamacare has already created a mess for President Trump. The Senate will write their own version of healthcare but they might not have the time they thought they would have.
The deadline for selling plans on the Obamacare marketplace is June 21st and it is possible Aetna’s leaving could produce a domino effect.
Aetna’s #Obamacare exit may trigger domino effect as deadline looms https://t.co/XpRB6MBa6c pic.twitter.com/I4ig8m28kM
— FOX Business (@FoxBusiness) May 11, 2017
Democrats are not yet calling for single-payer because they want to use the Republican healthcare bill against them in the elections next year.
Proof lies in their reactions of late. When Bernie called for single-payer, they ignored him. Politico reported on May 3 that House Democrats want Republicans to pass an Obamacare bill to use it against them in 2018. When the House passed the new healthcare bill, the Democrats mocked them in song, “hey hey hey goodbye”.
The mess is left to Republicans and unless they go for single-payer, the Democrats will use everything they don’t give for “free” in their bill against them.
