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Originally Posted by jms62
Dude seriously the insurers have been reporting record earnings every quarter since Obama care has gone live. Now due to the law of large numbers they cant hit their projections and ACA is the problem. Why wasn't it a problem while they were crushing it? These people/ companies are the scum of the earth they would not bat an eyelash as they refuse care to your mother as she is dying meanwhile rewarding thiir execs with HUNDREDS OF MILLIONS in stock options. I know you hate anything Obama did but this transcends parties. I have worked in the industry and have friends that have worked in the industry. I refuse to do business now and in the future with any company looking for a loophole to avoid paying out on coverage they gladly accept premiums for.
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I think the insurance companies that do mainly HMO's have been doing great. But why wouldn't they? Most of the people who are insured through their work were insured through their work before Obamacare. The companies that are not doing well are the ones who insure individuals. Those companies had to start insuring individuals with pre-existing conditions who are in very poor health. And this is not just a case of companies not making their numbers. This is a case of companies actually losing money.
By the way, I'm not saying Obamacare is all bad. It has surely helped millions of people. It has probably helped more people than it has hurt. I have never denied that. But it has also hurt plenty of people. There are plenty of people out there (including myself) whose premiums have skyrocketed and whose coverage has actually gotten worse.
Even Hillary Clinton has admitted that there are huge problems with the ACA and she is planning on making some major changes to it.
With regard to whether insurance companies are good guys or bad guys, I don't think they are either. It's a business like any other business. They're in business to make money. They don't do it to be altruistic. It is a necessary business too. There is a need for insurance companies. And in the vast majority of cases, people get their claims paid. With regard to the CEO's, I agree with you. I think the vast majority of CEO's are overpaid, whether we are talking about insurance companies or any companies.
Here is another article that talks about what is going on right now with insurance companies. I think pretty much all the problems are in the individual market. That probably covers only about 10% of the insured (but that is still around 10 or 15 million people).
"Is Obamacare in trouble? This week, UnitedHealth Group, America’s largest health insurer, announced that it had sustained heavy losses in selling insurance on the Obamacare exchanges and that it might be forced to pull out of the exchanges altogether. The news from other insurers is not much better. Aetna, Anthem, and Cigna, three of UnitedHealth’s biggest competitors, will no longer offer exchange coverage in a number of counties across the country, which could be a sign that they’ll retrench even further in the future. You might have heard that insurance premiums on the exchanges are rising substantially, which isn’t exactly welcome news."
http://www.slate.com/articles/news_a...re_doomed.html