New York Health Insurers on Obamacare Exchange Seeking Massive Rate Hikes

The New York State Obama.Care exchange will have to do some soul searching soon.

Looks like many insurance companies on that exchange are losing so much money, they are asking for massive rate hikes.

The average hike is around 17%, with one as high as 45%.

Big trouble if Obama.Care exchange polices keep getting killed.

Could be some big failures in the making, or it's all part of a plan to milk the subsidies at taxpayer expense .!!.


New York Health Insurers on Obamacare Exchange Seeking Massive Rate Hikes

Insurers on the New York health exchange are requesting rate hikes averaging in excess of 17%, with UnitedHealthcare going as high as a whopping 45.6%.

UnitedHealthcare has already announced that they would exit most of the Affordable Care Act state exchanges in which they operate in 2017, New York being one of the few exceptions.

The biggest health insurer in the country announced that it lost $475 million on the ACA exchanges last year and could lose another $500 million this year.

They explained that states in which they would continue to serve – like New York – would be done so on an “effective and sustained basis.”

a reply to: xuenchen
And one of the major players , UHC , is getting out nationwide. BCBS has already pulled out of many states .Jumping ship on the piece of crap termed "Obamacare".

The guys are full of it....I pay $750 a month for a $6,000 deductible health policy...do the math....$9,000 premium plus $6,000 deductible = $15,000 before the asshole insurance company is out of pocket one penny.

All I am really protecting is myself from bankruptcy IF the big one comes along.

I think ACA is worthwhile...fills a health care gap that should have been in place starting in the Clinton years...THAT the insurance companies will make unaffordable to all but the wealthy.

Cheers...kiss your ass good by and go the ER and let the taxpayers pick up the bills...but is this really an answer??

a reply to: xuenchen

This is a direct result of mandates.

Its a lose/lose situation for everyone.

People are forced to buy a product/service under the threat of fines, penalties and jail time.

Insurance companies are forced to accept everyone. Doesnt matter if its an alcoholic on his 3rd liver transplant.

Just take a look at the VA situation to see what government run healthcare will be like.

Obamacare was a bailout for the insurance companies. Their lobbyists wrote the Bill just as the bankers wrote the 13th Amendment and Federal Reserve Act.

Ratigan touches on it here:

ACA never should have passed

single payer is the only way to actually reduce claims dollars

The ACA isn't that bad, I mean my out of pocket maximum only quadrupled this year

a reply to: xuenchen

Weren't we all talking about this while obama was trying to push this crap through? That once a national health service was initiated, not to long later the rates would go through the roof. Who would have thunk it, huh? But cheer up, the worst is yet to come.

Cheers - Dave

originally posted by: Gothmog
a reply to: xuenchen
And one of the major players , UHC , is getting out nationwide. BCBS has already pulled out of many states .Jumping ship on the piece of crap termed "Obamacare".

Isn't competition supposed to put companies out of business when they can't keep up with their peers?

Here's the master himself a few years ago LOL

Before Obama.Care passed.....

Obama: Premiums Will Decrease 3000% So You Should Get A Raise When H'care Is Passed

originally posted by: JaMeDoIt
The guys are full of it....I pay $750 a month for a $6,000 deductible health policy...do the math....$9,000 premium plus $6,000 deductible = $15,000 before the asshole insurance company is out of pocket one penny.

All I am really protecting is myself from bankruptcy IF the big one comes along.

That's what insurance is supposed to be. It makes you pay more up front with the idea that you're covered if something catastrophic happens. Insurance by design makes society lose because the majority of people don't have something catastrophic happen.

Think about it this way, premiums need to equal payouts+profit. Society can never come out ahead by purchasing insurance, only a "lucky" individual can.

a reply to: Aazadan

What "competition" ??

originally posted by: xuenchen
a reply to: Aazadan

What "competition" ??

Other health insurance providers.

originally posted by: Aazadan

originally posted by: Gothmog
a reply to: xuenchen
And one of the major players , UHC , is getting out nationwide. BCBS has already pulled out of many states .Jumping ship on the piece of crap termed "Obamacare".

Isn't competition supposed to put companies out of business when they can't keep up with their peers?

Those two mentioned control most of the medical insurance industry (?) .They realize Obamacare is failing , and failing bad.

I myself actually found a better policy at a cheaper rate than what was on the healthcare.gov site.With UHC. Face it , it is only a Ponzi scheme that the proceeds go to the government.

And I say this from personal experience. In fact , do not even sign up on site to shop unless you are determined to purchase.Did you know that if you do , you are considered to already have insurance. Just by signing up. UHC (as well as others) told me that I couldnt get insurance with them . They stated I already had insurance. I told them I had no policy , I just signed up there to shop. Evidently , they know this happens.That is just one of the massive amount of "crookedness" that goes on around the "Obamapeiceofcrapcare"

a reply to: Gothmog

I'm no fan of the ACA but I'm of the opinion it's better than what we had. If only some of the states didn't oppose it by making it function as poorly as possible things would be better. What's done is done though, we've been trying to come up with something better for 30 years now and single payer is the best out of a bunch of bad ideas, by default it's worth trying.

a reply to: Aazadan

If we had enough people paying taxes it'd be great. What Bernie won't tell you is that countries like Denmark and Norway tax everyone, no matter how little they make.

a reply to: Aazadan

I'm no fan of the ACA but I'm of the opinion it's better than what we had

I could say that also if I were not in the know , or not living in this country for 50+ years.

a reply to: xuenchen

I'd like to know why jerkface Obama isn't being held accountable for his signature healthcare plan.

originally posted by: Gothmog
I could say that also if I were not in the know , or not living in this country for 50+ years.

Perhaps your viewpoint would be different if you or a family member was uninsurable due to pre existing conditions, but now have the option to get medical care?

a reply to: Aazadan

Perhaps yours would change if your insurance rate went up over 200% pricing your entire family out of coverage...

originally posted by: EternalSolace
a reply to: Aazadan

Perhaps yours would change if your insurance rate went up over 200% pricing your entire family out of coverage...

Subsidies are supposed to fix that. If you're making enough that you don't qualify for one, it's not because you're unable to purchase coverage but rather that you're unwilling to degrade your quality of life to do so. If you needed the coverage you would be able to purchase it. Now imagine being in a situation where you're forced to watch your family member slowly rot away and die extremely painfully over the course of a couple years, not because of being unwilling to pay the insurance companies but because even with 100% of their income, your income, and help from others it still wouldn't cover even a single medicine of the several they would need.

I've been there and done that. It's not a situation we should be facing in the US.