Blue Shield Of California instituting furloughs due to ObamaCare costs (insurance, income)

[CaliRestoration]

"This is certainly not normal for us," said spokesman Steve Shivinsky. "We're definitely seeing some income challenges as of mid-year," with claims in the individual and other markets "greatly exceeding the revenue we're taking in."

The move could save Blue Shield an estimated $4 million, by reducing its liabilities for paid time off.

http://www.bizjournals.com/sanfranci..._hsmi=32861909

So Blue Shield of California being bled dry.

Aetna pulling out of a dozen state exchanges.

UnitedHealth Group is calling it quits.

Humana is considering tapping out.

Can we just call this a huge failure indicative of Obama's legacy now or should we wait until Covered California just totally implodes in 18 months or so?

[Ruth4Truth]

Wait and see what HillaryCare turns out to be like.

[CaliRestoration]

Originally Posted by Ruth4Truth

Wait and see what HillaryCare turns out to be like.

Basically if you're 60 and over with preexisting conditions and an income lower than $2.5 million, you get to walk willingly into a wood chipper?

[cb73]

It needs to completely fail so they can institute Medicare-for-all, which was the point in the first place.

Anyone who read the bill day one could see that there was no possible way this would financially work.

[BayAreaHillbilly]

Want to make this whole racket more fair and tackle the costs?

Follow the money.

Tax the bejesus out of those who make the most money off of the bad behavior of benefit-denying insurance, poor quality care, using emergency rooms as primary care, etc.

[expatCA]

Originally Posted by cb73

It needs to completely fail so they can institute Medicare-for-all, which was the point in the first place.

Anyone who read the bill day one could see that there was no possible way this would financially work.

No one read it, they were not allowed to, just told to vote for it and .... they did.

Each year my companies costs go up and the coverage goes down. Great idea right?

[CA4Now]

"Aetna and UnitedHealth, which announced in April that it would withdraw from almost all the Obamacare exchanges it had entered, had previously focused on serving large employers, a much less risky and volatile market.

It’s unfortunate that the number of insurance choices are shrinking in many states’ Obamacare exchanges. But that’s a predictable result of the major and overdue changes the law brought about, not a sign of its failure."

Aetna’s withdrawal from Obamacare exchanges isn’t the start of a death spiral:
Aetna’s withdrawal from Obamacare exchanges isn’t the start of a death spiral - LA Times

[Tulemutt]

Originally Posted by CA4Now

"Aetna and UnitedHealth, which announced in April that it would withdraw from almost all the Obamacare exchanges it had entered, had previously focused on serving large employers, a much less risky and volatile market.

It’s unfortunate that the number of insurance choices are shrinking in many states’ Obamacare exchanges. But that’s a predictable result of the major and overdue changes the law brought about, not a sign of its failure."

Aetna’s withdrawal from Obamacare exchanges isn’t the start of a death spiral:
Aetna’s withdrawal from Obamacare exchanges isn’t the start of a death spiral - LA Times

Oh come on, CA4Now. Why'd you have to point that out? I suppose next you'll point out that healthcare costs were skyrocketing for years and years even before the ACA brought them under rein? How would educating the readers serve the purpose here of inflaming them?

[Tulemutt]

Oh the tangled webs we weave:

Aetna cited the large losses that the company has incurred from the exchange business — $200 million in the second quarter alone — when explaining its decision to roll back its business.



These statements, however, appeared to be a dramatic turnaround from the company's first-quarter earnings call in April, when CEO Mark Bertolini said the firm planned to stay in the exchanges and that the company was "in a very good place to make this a sustainable program."



Now, however, it appears a large reason for the shift in tone was the Department of Justice's lawsuit to block Aetna's merger with rival Humana.

The Aetna-Humana merger was the reason Aetna bailed on Obamacare - Business Insider

[CaliRestoration]

Originally Posted by CA4Now

It’s unfortunate that the number of insurance choices are shrinking in many states’ Obamacare exchanges. But that’s a predictable result of the major and overdue changes the law brought about, not a sign of its failure."[/i]

Aetna’s withdrawal from Obamacare exchanges isn’t the start of a death spiral:
Aetna’s withdrawal from Obamacare exchanges isn’t the start of a death spiral - LA Times

Umm. Didn't Obama himself PROMISE, promise, promise (and pinky sweared I believe) that you would be able to maintain your choice of doctors just like before, and prices would stay relatively the same.

“If you like your doctor, you will be able to keep your doctor.” - Barack Hussein Obama

Wasn't the "predictable result of the major and overdue changes" meaning, healthcare networks would start dropping like flies, and choices would shrink, meaning cost would go UP, one of the biggest arguments that anti-obamacare critics brought up over and over again, and now, like they predicted, it's happening just as they said?

When consumers enroll for 2016 health coverage via exchanges under the Affordable Care Act, they are less likely to find a preferred provider organization (PPO) plan, which could limit their doctor and hospital choices. --- Forbes Magazine

“While the tax (on high-value-employer health plans) is designed to be paid by companies, employees or consumers will see significant increases in costs.” - Tevi Troy