Federal judge strikes down Obamacare payments

CACtain Planet

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hashmander said:
yeah red states that didn't expand medicaid is the fault of the law. that's how it works in the republican mind. you gotta twist yourself into a pretzel.
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Even in blue states private insurers are pulling out. Its one of many reasons why the law is flawed and it will only get worse next year when Obama leaves office and the penalties for not having private insurance increase
 
Rice N Beans

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CACtain Planet said:
Yes for the poor to, especially as private insurer continue to pull out in droves in certain states with a high percentage of poor people and where Medicaid wasnt expanded.
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Seems to be the state's fault for rejecting expansion that would greatly help its residents.

I, on the other hand, when unemployed, got great healthcare thanks to Medicaid expansion in Illinois. :blessed: Even got some glasses too. Obamacare is the bee's knees.
 
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Rice N Beans said:
Seems to be the state's fault for rejecting expansion that would greatly help its residents.

I, on the other hand, when unemployed, got great healthcare thanks to Medicaid expansion in Illinois. :blessed: Even got some glasses too. Obamacare is the bee's knees.
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:sas1:

Illinois Obamacare plan crippled by losses
The operating losses continue to mount at struggling Land of Lincoln Health, totaling $90.8 million for the Obamacare health plan in 2015.

That net loss is almost five times greater than the Chicago-based startup reported in 2014, when it totaled $17.7 million. The insurer lost about $40 million in just the last three months of 2015, according to a new financial statement filed with national insurance regulators.

Jason Montrie, Land of Lincoln president and interim CEO, did not immediately respond to a message seeking comment.

Kevin Scanlan, chairman of the insurer's board of directors, said in a statement: "Land of Lincoln Health, like other insurers across the market, continues to adjust its business model as we learn how to best adapt to the new marketplace. . . .The board is confident in its long-term viability and will continue to evaluate and invest in the needs of our members.”

Touted by small businesses as an alternative to big insurers, Land of Lincoln was one of 23 co-ops nationwide spawned by the Affordable Care Act to create competition on the health insurance exchanges and force down prices. It was the only one in Illinois.

But just three years in, 12 of the 23 co-ops had closed as of Jan. 30, according to Sabrina Corlette, senior research fellow at the Center on Health Insurance Reforms at Georgetown University. They were beset by sick and expensive enrollees, legacy insurers with deeper pockets and federal funding that disappeared.

ROCKY START

Land of Lincoln had a rocky start. After a lackluster performance during the first year of the exchange, enrollment boomed, reaching almost 70,000 members as of January. The insurer generated $147.4 million in total revenue in 2015, more than 10 times greater than in 2014, when it took in $14 million with fewer enrollees.

But in October, the insurer announced it was capping enrollment in a bid to cut costs as its operating loss ballooned. The co-op drew the ire of customers in January when announcing it would drop University of Chicago Medicine from its network on March 1. The Hyde Park-based system is an academic medical center that treats the sickest patients, including those who need transplants or to manage costly chronic conditions. These types of facilities tend to be more expensive than typical community hospitals.

A pair of U of C Medicine patients with a Land of Lincoln health plan sued the insurer, alleging fraud.

A spokeswoman for the Illinois Department of Insurance did not immediately comment on Land of Lincoln's latest financial troubles, but the agency has been keeping a close eye on the co-op.

The state agency has at least two options should Land of Lincoln get into deeper financial trouble. If the co-op decides to stop selling policies altogether, it could pay outstanding claims under the department's supervision. That process could take more than a year.

More aggressively, the department could petition the courts to become Land of Lincoln's receiver. In that case, the Illinois Life & Health Insurance Guaranty Association, a nonprofit that assesses fees to member insurance companies, would pay the co-op's outstanding claims to patients and their doctors if Land of Lincoln ran out of money.
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UnitedHealthcare to exit most state insurance exchanges
UnitedHealthcare said Tuesday it will pull out of several Affordable Care Act marketplaces next year, but the insurer didn't identify which states it will leave.

A UnitedHealthcare spokeswoman declined to say whether the company would exit the Illinois exchange that provides coverage to individuals who shop for their own health insurance.

The Illinois Department of Insurance had no comment, said spokeswoman Allie Bovis.
The biggest U.S. insurer plans to remain in "only a handful" of the 34 ACA marketplaces in which it operates this year. "The smaller overall market size and shorter-term, higher-risk profile within this market segment continue to suggest we cannot broadly serve it on an effective and sustained basis," UnitedHealth Group CEO Stephen Hemsley said during the company's first-quarter earnings conference call.

UnitedHealthcare signaled last year that it was reconsidering its presence on the exchanges after losing hundreds of millions of dollars.

In the past week, state officials in five states, including Michigan, Arkansas and Georgia, disclosed that UnitedHealthcare will withdraw from their ACA insurance exchanges, according to published reports.

In Illinois, UnitedHealthcare sells ACA-compliant health plans in 27 counties. It was only in Cook County in 2015.
The Minnetonka, Minn., company also launched an independent insurance company last year called Harken Health, which sold ACA plans in only two cities, Chicago and Atlanta. Members receive unlimited free primary care visits at clinics operated by Harken.

Maria Gordon Shydlo, a UnitedHealthcare spokeswoman, confirmed that Harken will continue selling plans in Chicago next year.

UnitedHealthcare said it had 795,000 members on state exchanges at the end of March, up roughly 300,000 people from December.

asachdev@tribpub.com
UnitedHealthcare to exit most state insurance exchanges
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Tony D'Amato

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Only in the Republican mind would Healtj insurers profits falling be a bad thing. Single Payer :ohlawd:
 
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The Taxman said:
Only in the Republican mind would Healtj insurers profits falling be a bad thing. Single Payer :ohlawd:
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Obama had the chance to push for a public option which would have been a quicker and more effecient way to get to single payer and he boofed..Insurer profits falling in obamacare just means premiums will go up which means the amount of subsidies needed to offset the cost for those on obamacare will need to increase and that is in the hands of congress..Like I said, it was a flawed law
 
Tony D'Amato

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CACtain Planet said:
Obama had the chance to push for a public option which would have been a quicker and more effecient way to get to single payer and he boofed..Insurer profits falling in obamacare just means premiums will go up which means the amount of subsidies needed to offset the cost for those on obamacare will need to increase and that is in the hands of congress..Like I said, it was a flawed law
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It means President Clinton will go tobwar w/ insurers :blessed:

The case u provided will still be overturned tho :camby:
 
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