68% of Healthcare CEO's (Which Includes Insurance Company CEO's) still favor the Affordable Care Act yet their companies have lost billions in just a few short years participating in the State and Federal exchanges. This Is Not Adding Up! One might think the Medical Risk Corridor within PPACA will bail them out of the losses yet it has been documented (Highmark Lawsuit) the Federal Government is only paying back about 12% of the overall losses. This Is Not Adding Up!
Here are a few examples.
Health plans competing in the overhauled individual market lost more than $3 billion in 2014, the first year of exchange operations, according to financial filings. Profits at Blue Cross Blue Shield plans, which dominate many state exchanges, plummeted 75 percent from 2013 to 2015, according to a report by A.M. Best Co.
United Healthcare the largest insurer in the country, which sold health plans in 34 state exchanges this year, announced it will pull out of most Obamacare marketplaces in 2017 because of anticipated losses of $650 million on its exchange business this year.
Blue Cross Blue Shield of North Carolina, says it lost roughly $400 million on the first two years of Obamacare business and raised premiums by an average of 30 percent this year
Read the full survey here:
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