— the bad headlines continue to roll in.
Thousands more Obamacare Enrollees Lose Their Plans so they will pay the outrageous tax but get no insurance. The law imposes too many costs on business, with many describing it as a “job killer”.
Premiums rose an average of 25% in 2017. .
Health-care co-ops are failing. Co-ops in Oregon, Colorado, Tennessee, and Kentucky announced that they will stop selling Obamacare because of lower-than-expected enrollment. As a result hundreds of thousands of people will lose their insurance plans.
So “If you like your plan, you can keep it” was a lie.
Tennessee’s co-op, which allows 27,000 people to receive an insurance plan subsidized through Obamacare, will not offer coverage next year
Tennessee’s Community Health Alliance lost $22 million in 2014. It failed even though the Department of Health and Human Services allowed it to raise insurance rates by 44 percent — “the largest rate hike for an insurance carrier,” according to The Tennessean.
Kentucky, which has 51,000 enrollees, announced last week that its co-op was going under.
Insurance companies are backing out of participating in Obamacare because fewer Americans than anticipated are signing up; that in turn raises insurances costs for everyone.
And health-insurance premiums are shooting up. It’s impossible to call it the Affordable Care Act.
According to researchers with the Urban Institute and the Robert Woods Johnson Foundation, medical loss ratios (MLRs) are threatening the viability of insurers in as many as 27 states. Medical loss ratios are the proportion of the premiums collected by an insurer that are paid out in benefits. But researchers found that average MLRs across all health plans sold on 16 state exchanges ranged from 90 to 99 percent — nearly the whole amount collected in premiums. And in 11 other states it’s even worse: MLRs exceeded 100 percent of premiums collected. In Massachusetts, the home of Romneycare, the MLR reached 121 percent of premiums. Insurers cannot and therefore will not stay in business if they pay more in benefits than they collect in premiums. Losing money on the products you sell is not a good business model.
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