Tag Archives: Blue Cross Blue Shield raises premiums 34 percent lost more than $400 million

NC obamacare rates skyrocket, Aetna slashes ACA exchange participation, Blue Cross Blue Shield raises premiums 34 percent lost more than $400 million, Aetna second quarter pre tax loss of $200 million

NC obamacare rates skyrocket, Aetna slashes ACA exchange participation, Blue Cross Blue Shield raises premiums 34 percent lost more than $400 million, Aetna second quarter pre tax loss of $200 million

“If you like your plan, you can keep it.”…Barack Obama

“millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years.”…NBC News October 29, 2013

“We are being lied to on a scale unimaginable by George Orwell.”…Citizen Wells

 

Are you in NC and seriously considering voting for Hillary the lying sociopath?

Obama’s impact on NC has been catastrophic.

There is no reason to believe that Hillary’s will be less.

From Insurance Journal August 13, 2016.

“Blue Cross Seeks 34% Rate Hike in North Carolina for ACA Plans”

“North Carolina’s largest health insurer says higher-than-anticipated costs after two years of selling federally subsidized coverage has forced it to seek premium increases even greater than it thought would be necessary two months ago.

Blue Cross and Blue Shield of North Carolina said Aug. 6 that it now seeks an average 34.6 percent higher premium for insurance sold under President Barack Obama’s health insurance overhaul law. The company said in June that it wanted to raise rates by an average of almost 26 percent starting in January, compared with this year’s allowed 13.5 percent increase.

The move comes as dozens of health insurers across the country have proposed increasing premiums for individual policies well beyond 10 percent for 2016. However, many of those insurers face pushback from state and federal regulators, and experts say it’s still too soon to say how things will turn out.

Blue Cross vice president Patrick Getzen says the program has not met expectations that healthier customers would enroll in the second year and that costs would level out after people who avoided doctors for years got treatment.

“Based on our data, neither expectation is proving true. Our claims and expenses are higher than our premiums and we need to take steps now to protect the sustainability of plans for our customer over the long-term,” Getzen said.”

Read more:

http://www.insurancejournal.com/news/southeast/2015/08/13/378488.htm

From WRAL August 16, 2016.

“Insurer Aetna slashes ACA exchange participation, exits NC”

“Aetna has become the latest health insurer to retreat from the Affordable Care Act’s public exchanges by announcing a pullback that will further deplete customer choices in many pockets of the country.

The nation’s third largest insurer says it plans to leave nearly 70 percent of the counties in which it currently sells coverage as it trims exchange participation to four states in 2017, down from 15 this year. The move includes ending all Coventry Health Care of the Carolinas plans offered in North Carolina through HealthCare.gov.2

The insurer’s late Monday announcement comes after UnitedHealth and Humana detailed their own exchange pullbacks for 2017 and after more than a dozen nonprofit insurance co-ops have shut down in the past couple years.

Dwindling exchange participation from insurers is becoming a concern because competition is supposed to help control insurance price increases, and many carriers have already announced plans to seek price hikes of around 10 percent or more for 2017. Some states like Alaska and Oklahoma will be left with only one participant selling individual coverage in 2017.”

“The nation’s largest insurer, UnitedHealth Group Inc., had expanded rapidly into the public exchanges and sold coverage in 34 states this year, including North Carolina. But it only plans to offer policies in three states next year, Nevada, Virginia and New York.

The moves by Aetna and UnitedHealth leave Blue Cross Blue Shield of North Carolina as the only insurer to offer Affordable Care Act plans in North Carolina through the HealthCare.gov marketplace, although Cigna Corp. has said it would offer exchange plans in the Raleigh market in 2017.

Blue Cross has lost more than $400 million on exchange plans in the last two years and has considered dropping out as well, but company officials said in May they likely would continue offering exchange plans in 2017, depending on whether state regulators approve requested price increases.

Aetna has said it has been swamped with higher than expected costs, particularly from pricey specialty drugs. The nation’s third-largest insurer said a second-quarter pre-tax loss of $200 million from its individual insurance coverage helped it decide to limit exposure to the exchanges.”

Read more:

http://www.wral.com/insurer-aetna-slashes-aca-exchange-participation-to-4-states/15933839/

 

More here;

https://citizenwells.com/