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Humana Will Yank Obamacare Plans Serving 100,000 Patients

JumpinJack

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Humana said it will discontinue several products offered on government-run exchanges under the Affordable Care Act, impacting about 100,000 individuals currently covered by the insurer’s plans across the country.

The move, disclosed this morning in the company’s third-quarter earnings report, comes due to higher-than expected medical costs from sick newly insured patients covered under the health law.

“Operating results for the company’s individual commercial medical business continue to be challenged primarily due to the volatility related to the start of the healthcare exchange program created under the Affordable Care Act as well as the morbidity of membership served under this relatively new program,” Humana said in a statement this morning.

The plans Humana will discontinue had “product designs which attracted a higher-utilizing member base than was assumed when the 2015 plan offerings were priced,” the company said but didn’t specify the kind of plans that will be pulled. “The transitory nature of the population served has also contributed to use of emergency room services and non-participating providers above priced-for levels.”

Humana Will Yank Obamacare Plans Serving 100,000 Patients

And another plan bites the dust.

Humana's soon-to-be-parent, Aetna, will also be exiting two states entirely. On a brighter note, United Healthcare is expanding into more states.
 
Well, an average/mid-level provider leaves, and one of the "Walmart's" or maybe more accurately described as the "Snake Oil Salesman" of the insurance business rush in behind them to swallow up the uninformed insurance purchasers. Yup, that's great news. United Healthcare Contacts, Complaints and Reviews
 
United Healthcare Increases Presence In Exchange Marketplace

Well that was easy to counter. Do you have any other faux outrage doom and gloom stories or are you done for the day?

You should know by now that I am a factual, logical person. I am neither a doom and gloom person nor a Pollyanna. If you had read my post, you would have seen my comment:

Humana's soon-to-be-parent, Aetna, will also be exiting two states entirely. On a brighter note, United Healthcare is expanding into more states.

I report on facts. Humana IS pulling plans from 100,000 people. Aetna, its soon to be parent, IS exiting two states. UNH IS expanding into more states.
 
Humana Will Yank Obamacare Plans Serving 100,000 Patients

And another plan bites the dust.

Humana's soon-to-be-parent, Aetna, will also be exiting two states entirely. On a brighter note, United Healthcare is expanding into more states.

Here is what Humana actually said
Discontinuance of certain products as well as market exits for 2016, with approximately 100,000 current members expected to be impacted, though approximately 88 percent of those will have other Humana options from which they can choose in addition to offerings in the open market. Product discontinuance for 2016 primarily focuses on off-exchange products as well as platinum metal-tier and broad-network products both on and off exchange. Offerings to be discontinued in 2016 account for a significant portion of the 2015 pretax losses for the individual commercial business.

Humana | Investor Relations | News Release

Translation, 88,000 of those 100,000 will be covered by other Humana plans and the other 12,000 will get coverage through another carrier. Even more notable is that most of the plans Humana is discontinuing are OUTSIDE of the exchange
 
Here is what Humana actually said


Humana | Investor Relations | News Release

Translation, 88,000 of those 100,000 will be covered by other Humana plans and the other 12,000 will get coverage through another carrier. Even more notable is that most of the plans Humana is discontinuing are OUTSIDE of the exchange

Yes, I think everyone knows that Humana isn't pulling ALL of its plans out of all of the states. The caption of the article is a giveaway. There will be other plans left. Just like BCBS left its HMOs in Texas, after it removed its PPOs. They are pulling the plans they are losing money on (the ones that pay better and/or have bigger networks of providers and drug lists for the insureds). That's exactly right.
 
Yes, I think everyone knows that Humana isn't pulling ALL of its plans out of all of the states. The caption of the article is a giveaway. There will be other plans left. Just like BCBS left its HMOs in Texas, after it removed its PPOs. They are pulling the plans they are losing money on (the ones that pay better and/or have bigger networks of providers and drug lists for the insureds). That's exactly right.

So an insurer is ending plans it's losing money on?

Oh, the horror!!!
 
Yeah, we can't have medical insurance doing it's job that's for sure. The share holders need higher dividends and the bottom line must not hemorrhage.

This is true, and why the healthcare industry being another for-profit business, like WalMart, isn't a good thing. The ins. cos. are in it only to make profits. That's why they exist, and that's their main concern. All entities have the will to survive. For a for-profit business to survive, it needs profits. Unfortunately, when the product is healthcare, people suffer greatly for the sake of those profits. Life, liberty, and the pursuit of happiness? Not possible if you don't have decent healthcare.
 
It's actually quite a worthy subject, perhaps you could explain your comment in a little more depth.


a topic about people switching health care insurance from one provider to another is pointless.
 
a topic about people switching health care insurance from one provider to another is pointless.

Right, that's what the OP was about. Seriously? A major insurance company is dropping ACA Plans due to the fact it's not financially viable to retain them and you think it's about people just switching insurance?

Fer reels?
 
Right, that's what the OP was about. Seriously? A major insurance company is dropping ACA Plans due to the fact it's not financially viable to retain them and you think it's about people just switching insurance?

Fer reels?


the people are most all staying with the same company...Humana.
 
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