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Obamacare "fix" puts insurers in a tough spot

  • Pres. Obama's administrative fix for health insurance cancellations may sound simple - allow insurers to extend their plans for another year - but it's anything but easy.
  • "Changing the rules after health plans have already met the requirements of the law could destabilize the market and result in higher premiums for consumers," says the head of the top insurer trade group. "Premiums have already been set for next year based on an assumption of when consumers will be transitioning to the new marketplace."
  • "The logistics of doing it with just a few days left in the policy year are extremely difficult," says a former CEO of Oklahoma's largest health system. The fix "shifts the blame and makes [the insurance companies] the culprits."
  • Aetna (AET) says it will need close cooperation from state insurance regulators to implement the fix.
  • Beyond the administrative burden, Citi analyst Carl McDonald says the change presents a risk of building a less healthy and less profitable pool of insurance buyers; the potential deterioration of the exchange market will pose a risk for WellPoint (WLP), Humana (HUM) and Health Net (HNT), which pursued aggressive exchange strategies for 2014.
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Comments (35)
  • SoldHigh
    , contributor
    Comments (1013) | Send Message
     
    Obama and his incompetent ilk had THREE YEARS to get ready for this. The poetic justice here is the idiots who voted for him are getting the change they voted for, starting with MUCH higher insurance rates.

     

    The quote of the day from a fool who voted for Obama:
    "I was all for Obamacare until I found out I was paying for it..."
    http://lat.ms/1bInGNx
    14 Nov 2013, 07:30 PM Reply Like
  • optionsexpert
    , contributor
    Comments (297) | Send Message
     
    Classy comment.
    14 Nov 2013, 08:11 PM Reply Like
  • Bouchart
    , contributor
    Comments (792) | Send Message
     
    A fool and his money are soon parted!
    14 Nov 2013, 08:27 PM Reply Like
  • getreal10000
    , contributor
    Comments (236) | Send Message
     
    "Valerie Jarrett, the president's most trusted, probably most powerful, aide, once said in admiration that Mr. Obama has been bored his whole life. The implication was that he is above things, a man alone, and anointed. Perhaps this moment—a presidency coming apart, the incompetent social engineering of an entire health-care system—will now claim Mr. Obama's attention. "

     

    — Fouad Ajami, senior fellow at Stanford's Hoover Institution
    15 Nov 2013, 12:22 AM Reply Like
  • kjgardner
    , contributor
    Comments (23) | Send Message
     
    I doubt it. Not this joker in the White House. He doesn't care about the health care system. He only cares about himself.
    15 Nov 2013, 09:23 AM Reply Like
  • jackooo
    , contributor
    Comments (1536) | Send Message
     
    True word!!!
    15 Nov 2013, 10:50 AM Reply Like
  • getreal10000
    , contributor
    Comments (236) | Send Message
     
    And he cares about economic redistribution more than economic growth. The results of that are hurting a lot of hard-working people.
    15 Nov 2013, 02:17 PM Reply Like
  • Bear Bait
    , contributor
    Comments (689) | Send Message
     
    I'm not a fan of Affordable Care Act; but, I'm even less a fan of the Insurance companies. It doesn't matter which way it goes, up or down left or right, the Ins Companies will use it as an excuse to raise premiums or in some way make themselves more money.
    14 Nov 2013, 07:33 PM Reply Like
  • DougRk
    , contributor
    Comments (1619) | Send Message
     
    Less a fan of ins. cos?

     

    1, they can't put you in jail.
    2, they can't pass laws that you must follow else go to jail.
    3, they can't tax you with the threat of jail
    4, they were not at the heart of mass atrocities in human history as were governments.
    5, you can go elsewhere if you don't like yours
    6, you can start your own if you so desire

     

    What exactly is your argument?

     

    There's no inherent goodness in ins cos, they're just trying to make money by serving ppl. Govt doesn't even have that going for it.
    14 Nov 2013, 08:17 PM Reply Like
  • justaminute
    , contributor
    Comments (752) | Send Message
     
    The US Government is the largest insurer in the world.
    14 Nov 2013, 10:00 PM Reply Like
  • kcr357
    , contributor
    Comments (564) | Send Message
     
    You must really be upset over the mandate to do business with them.
    14 Nov 2013, 10:23 PM Reply Like
  • ChicagoVol
    , contributor
    Comments (31) | Send Message
     
    Agreed. Now they just a reason to continue to increase mine and everyone else's premiums.
    14 Nov 2013, 10:28 PM Reply Like
  • kjgardner
    , contributor
    Comments (23) | Send Message
     
    What an excellent comment (seriously). Some people's perspectives are so whacked up, they cannot see the difference between a government out of control and everyone else who is at the mercy of that government. Insurance companies are in business to make money, and they must follow the rules in doing so. This current government (president) is making and changing the rules as he goes. And what's worse, is he is doing it for his own political gain, not for the benefit of the people
    15 Nov 2013, 09:33 AM Reply Like
  • 1940voter
    , contributor
    Comment (1) | Send Message
     
    Yet the msm will say he is showing leadership and the ignorant will smile and say he is working for them and the no information voters will just shrug and take more. Left ,will be the people getting screwed, lied to, shafted by this adminstration. If 85% of the people were satisfied with their insurence why was it neccessary to take 1/6 of the economy ? Gov't control and nothing else . Not about people about gov't.
    15 Nov 2013, 11:08 AM Reply Like
  • Bouchart
    , contributor
    Comments (792) | Send Message
     
    Obama is just making things up as he goes. It's a complete disaster.
    14 Nov 2013, 07:37 PM Reply Like
  • getreal10000
    , contributor
    Comments (236) | Send Message
     
    This nightmare would have been over before it started had the media done their jobs and reported in an unbiased manner. I blame them more than anything else for being the worst kind of enablers. And now they're going to have to make a choice - their credibility and careers, or continue propping up failure.
    14 Nov 2013, 09:02 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (9084) | Send Message
     
    Who'd have thought a local "community organizer" wouldn't be able to transfer those skills over to running the planet's most complex economy?

     

    No one could have seen this coming.
    15 Nov 2013, 09:22 AM Reply Like
  • Craig Van Pelt
    , contributor
    Comments (162) | Send Message
     
    getreal1000.

     

    Brilliant! You are 100% correct. It is the media's responsibility to investigate and report the truth. They enabled Obama and his crowd at the expense of truth and the best interest of the country. All of them, with few exceptions, should be punished.

     

    CRAIG VAN PELT
    SA CONTRIBUTOR
    15 Nov 2013, 11:05 AM Reply Like
  • Tack
    , contributor
    Comments (13991) | Send Message
     
    Just wander down to your local post office. Your medical care there will be just as competent and economical.
    14 Nov 2013, 07:59 PM Reply Like
  • DougRk
    , contributor
    Comments (1619) | Send Message
     
    Little talk about the fact that his decree is illegal. Sorry, the law is the law. We're seeing a coup, where Congress and the Constitution are being pushed aside.
    14 Nov 2013, 08:15 PM Reply Like
  • Bouchart
    , contributor
    Comments (792) | Send Message
     
    Congress doesn't want to draw attention to the fact that they crafted this bill in the first place, so don't expect any pushback from them.
    14 Nov 2013, 08:21 PM Reply Like
  • Tack
    , contributor
    Comments (13991) | Send Message
     
    As an arbiter and enforcer of the Constitution, the Supreme Court has become less effective than a eunuch in a brothel.
    14 Nov 2013, 08:25 PM Reply Like
  • pre-boomer
    , contributor
    Comments (26) | Send Message
     
    Maybe this MESS explains why Chicago is in such good shape - OBAMA was a community organizer there be fore he moved on to bigger things !!!
    14 Nov 2013, 08:20 PM Reply Like
  • deercreekvols
    , contributor
    Comments (6259) | Send Message
     
    If this Presidency was an NBC drama, it would have been cancelled after four or five episodes.

     

    If it was a sit-com, it would be the most-watched by a wide margin.

     

    Yikes!
    14 Nov 2013, 08:22 PM Reply Like
  • getreal10000
    , contributor
    Comments (236) | Send Message
     
    This "fix" isn't about helping Americans keep their existing health insurance plans, it's about the 2014 elections and keeping the Senate from flipping to the Republicans.
    14 Nov 2013, 09:00 PM Reply Like
  • IgnisFatuus
    , contributor
    Comments (2143) | Send Message
     
    Obama's solution is to kick the can down the road 1 year...it doesn't solve the underlying issues people are so furious about.
    14 Nov 2013, 10:33 PM Reply Like
  • GizmoA51
    , contributor
    Comments (116) | Send Message
     
    Ten years from now everything will be fine and people will have forgotten all about the rocky start and, of course, the republinos will still be trying to defund ObamaCare along with social security and medicare. republinos want to privatize everything so the rich 1% will have more money to donate to them so the republinos can get more votes and more power.
    15 Nov 2013, 06:16 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (9084) | Send Message
     
    As I write this...this is the only comment without a "like".
    15 Nov 2013, 09:25 AM Reply Like
  • GizmoA51
    , contributor
    Comments (116) | Send Message
     
    You missed a couple others but it takes awhile for people to digest what I write.
    15 Nov 2013, 10:25 AM Reply Like
  • bike 05673
    , contributor
    Comments (154) | Send Message
     
    I agree this roll out is an amazing failure , I can only imagine the
    tension going on in the White house. But I was a victim of these
    worthless policies. They are cheap and great if you do not get sick. I
    was 100% healthy lived a healthy lifestyle and really never had a claim
    I then had a life threatening infection in the hospital 5 months with a
    bill of 750,000$ bucks one the biggest insurance companies in the US
    said they would not pay. You have no idea the stress and money I had to
    spend on lawyers. The policies are worthless , the people running
    Obamcare are worthless and the citizens are screwed
    15 Nov 2013, 07:07 AM Reply Like
  • bike 05673
    , contributor
    Comments (154) | Send Message
     
    What kind of choice do you really have in healthcare. I never knew any

     

    human who has any real choice in what kind of medical needs might

     

    develop. So it all comes down to this, what deductible you chose.

     

    Higher income folks can have a higher deductible and self insure for

     

    the rest. Lower income folks cannot afford the risk associated with a

     

    high deductible . Any time I hear the argument about choice it proves

     

    they do not want to understand the basic facts. I for sure have never

     

    been ill in my life and developed a infection, close to death 5 month in

     

    the hospital and $ 750.000 in medical expense. (cost $40,000 for

     

    lawyers to get my insurance to pay). I was in good shape ,great health

     

    record, so who knows. But I KNOW, nobody ever knows so you must be

     

    covered for any eventuality.
    15 Nov 2013, 07:21 AM Reply Like
  • PeteCal
    , contributor
    Comments (90) | Send Message
     
    Insurance is not the solution. Insurance is the problem.
    If you want to reduce medical costs, fire the hundreds of thousands of people working for the insurance companies.

     

    Help me! I am a prisoner in the Obamanation!
    15 Nov 2013, 09:14 AM Reply Like
  • jackooo
    , contributor
    Comments (1536) | Send Message
     
    Read the comments here and 99% of you do not know what you are talking about!
    Some of the verbs you use to attack Obama are....kick the can down the road.... amazing failure.... mercy of the government....
    bored his whole life....
    Let's look at the health care and the wire tapping and email hacking and the gun running to Mexico and the Benghazi attack and the IRS scandal & the amnesty for illegals and the tripling of food stamps and the gigantic increase in the budget. Sit down and say to your self is this because he is bored or inept or is this done by the most intelligent human being in the government for the purpose of destroying the United States. He has his own agenda.
    15 Nov 2013, 11:05 AM Reply Like
  • IgnisFatuus
    , contributor
    Comments (2143) | Send Message
     
    Jackroo, I agree 100% with what you wrote here about his purpose of destroying the country, and I'm the one with the "kicking the can down the road" comment. Please tell me how what he is proposing is something other than delaying what is currently happening by 1 year. Funny how people say his Presidency is/will be a total failure. In fact, he will go down as probably one of the most successful presidents at accomplishing HIS agenda. Just depends on the lens you are viewing through.
    15 Nov 2013, 06:26 PM Reply Like
  • tenofwands
    , contributor
    Comments (357) | Send Message
     
    FIXING health-care by fixing the process of distribution of services (the prevailing methodology of OBAMACARE) without fixing the intrinsic methodological flaws in allopathic medicine AND the tort system that has medical service providers LIVING IN FEAR is like fixing the alignment on a car with a bent frame. The focal solution will be UNDERMINED by the overarching structural issue.
    A vast and humble recognition of the pervasiveness and magnitude of the challenge at hand is required, and is most certainly NOT politically correct. A collective surrender of our comfort zones is in order.
    15 Nov 2013, 01:47 PM Reply Like
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