real-time news and commentary for investors
Friday, Oct 18
Obamacare exchanges providing insurers with wrong data
- The technology problems afflicting the roll-out of health-insurance exchanges seem to be even worse than thought, with insurers saying that the marketplaces are generating incorrect information.
- "Errors include duplicate enrollments, spouses reported as children, missing data fields and suspect eligibility determinations," the WSJ writes.
- The problems are damaging the ability of insurers to process even the small numbers of people who have signed up. "The longer this takes to resolve...the harder it will be to get people to (come back and) sign up," said Aetna (AET) CEO Mark Bertolini.
- Other firms that could be affected include UnitedHealth (UNH), WellPoint (WLP), Humana (HUM) and Molina Healthcare (MOH).
- The IT contractors involved include IBM (IBM), Infosys (INFY) and CGI Group (GIB).
- ETFs: XLV, XHE, VHT, FXH, IHF, IHI, IYH, PTH, RYH, PSCH, RXL, RXD, XHS.