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Old 02-06-2014, 10:59 AM  
HonestChieffan HonestChieffan is offline
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Real Cost of ObamaCare may never be known

It hasn't even gotten off the ground and Humana is coming in for a cool $450Mill ….And that is just the start.

The game is over, at some point they need to admit it can't work and kill the beast.


http://www.forbes.com/sites/scottgot...llion-in-2014/



There’s been a lot of discussion about whether the risk adjustment tools embedded in ObamaCare amount to a bailout for the insurance companies, or are a reasonable feature of the law. There’s been far less information about how much money the insurers stand to gain from these measures, to offset their expected losses.

Now we have some hard numbers. Humana announced that it expects to tap the three risk adjustment mechanisms in ObamaCare for between $250 and $450 million in 2014. This amounts to about 25 percent of the insurer’s expected exchange revenue. This money is needed to offset losses that the insurer will take as a result of slower enrollment in its ObamaCare plans, and a skewed risk pool that weighs more heavily toward older and less healthy members than it originally budgeted.

More than half of the money will come from the $25 billion reinsurance pool that ObamaCare provides (collected through a tax on employer-sponsored health plans). The other half will come mostly from the risk corridors. Humana is expected to book the money as revenue to offset shortfalls between what it collects in exchange premiums and pays out in medical claims.

The company blamed the Obama Administration’s decision late last year to extend grandfathering of individual market plans for the overall deterioration in the risk pool. That means that Humana (like other insurers) was counting on people from the individual market being forced to transition into ObamaCare plans. It’s widely perceived that the Obama Administration counted on that migration as well. But Humana’s statement was a very clear expression of this expectation.

Humana said that it had enrolled 202,000 people on its exchange-based health plans as of January 31st, of which 82 percent were eligible for subsidies.

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Old 02-06-2014, 11:01 AM   #2
TEX TEX is offline
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Obamacare is easily the worst piece of legislation passed in my lifetime. I'm sure that's the case for many as well.
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Old 02-06-2014, 11:10 AM   #3
alpha_omega alpha_omega is offline
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Quote:
Originally Posted by HonestChieffan View Post
The game is over...., at some point they need to admit it can't work and kill the beast.

Unfortunately, i feel the "game" is just beginning.
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Old 02-06-2014, 12:03 PM   #4
Dayze Dayze is offline
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Quote:
Originally Posted by TEX View Post
Obamacare is easily the worst piece of legislation passed in my lifetime. I'm sure that's the case for many as well.
that.
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Old 02-06-2014, 12:04 PM   #5
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Obamacare is easily the worst piece of legislation passed in my lifetime. I'm sure that's the case for many as well.
wtf? it creates jobs and lets people retire early and you can keep your insurance if you want

what's not to like?
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Old 02-06-2014, 12:16 PM   #6
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Why are people complaining about paying $800 a month in premiums and having a $25,000 deductable-insurance companies have to make money too-lol
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Old 02-06-2014, 12:18 PM   #7
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BTW- they are asking if you have insurance on your tax returns this year. Next year they start charging you if you don't.
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