- Joined
- May 29, 2009
- Messages
- 13,061
- Reaction score
- 5,128
- Location
- USA
- Gender
- Male
- Political Leaning
- Conservative
I dislike Vox as a source, but I found a couple of items interesting:
Only 8000 enrollees and managed to lose 9 milion. Ouch.
Insurance markets are complicated. But the story of Obamacare's 2016 premium increase is actually pretty simple: Many health plans — even those with decades of experience selling insurance — underestimated how sick health law enrollees would be.
Only 8000 enrollees and managed to lose 9 milion. Ouch.
This meant that in 2014, many insurers spent more paying out medical bills than members paid in premiums. Premera Blue Cross Blue Shield of Alaska lost $9 million covering just under 8,000 Obamacare enrollees that year. In Colorado, Rocky Mountain HMO found medical bills to be about 36 percent higher than premiums.
Why Obamacare premiums are spiking in 2016 - VoxThere are other insurers who didn't have this problem, who priced correctly and turned a profit. But they're in the minority of those selling on the health law's new marketplaces.
"Many more insurers lost money than made money in 2014," says Larry Levitt, senior vice president for special initiatives at the Kaiser Family Foundation.