Good day all. Another shoe has dropped in the saga of Obamacare. UnitedHealth Group, Inc. Has announced they are bailing out of the Obamacare exchanges.
UnitedHealth was not one of the original boosters of Obamacare. Unlike the other insurance companies, who saw Obamacare as a way to have money shoveled into their coffers by the truckload, UnitedHealrth was hesitant to jump onto the bandwagon. Eventually, they did and thought they would at least break even. However, they ran into a few small problems. The Obamacare exchanges are losing money hand over fist, and UnitedHealth saw losses on their Obamacare Exchanges coming in over $1 billion dollars for the last two years.
Since UnitedHealth is in the insurance business to make money rather then lose it, and considering that Obamacare is a massive drain on the economy, UnitedHealth decided it was time to pull the plug. Here are some of the details from Fox News:
The nation’s largest health insurer, fearing massive financial losses, announced Tuesday that it plans to pull back from ObamaCare in a big way and cut its participation in the program’s insurance exchanges to just a handful of states next year – in the latest sign of instability in the marketplace under the law. UnitedHealth CEO Stephen Hemsley said the company expects losses from its exchange business to total more than $1 billion for this year and last.
But, this is impossible! How can this be? Everyone knows that insurance companies have printing presses and just roll off oodles of money that can be used to provide free healthcare to everyone, for free.
Despite the company expanding to nearly three dozen state exchanges for this year, Hemsley said the company cannot continue to broadly serve the market created by the Affordable Care Act’s coverage expansion due partly to the higher risk that comes with its customers.
Translation, only the sickest people are going through the exchanges. The people that Obama and the Democrats expected to funnel money to the Exchanges, the young and healthy, took one look at the crap Obama calls “Health Insurance” and said “Screw that! It’s to expensive and I don’t need it! I’ll just pay the unconstitutional fine that scumsucking pig Roberts said was constitutional. It’s a hell of a lot cheaper.”
UnitedHealth has already decided to pull out of Arkansas, Georgia and Michigan in 2017, and Hemsley told analysts during a Tuesday morning conference call that his company does not want to take the financial risk from the exchanges into 2017.
Risk? There is no risk. It’s guaranteed that UnitedHealth will lose money on the exchanges. Considering that most of the state run exchanges have already collapsed, it’s only a matter of time before all the other insurance companies bail on this mess as well.
With the election season underway, Obamacare is coming back front and center to everyone attention. The Republicans, and this includes Donald Trump, are saying HAH! We told you so!” and are generating plans to finally ditch Obamacare once and for all. The Democrats are all saying that there is no problem, that UnitedHealth is lying and everyone loves Obamacare.
[youtuber youtube=’http://www.youtube.com/watch?v=d-diB65scQU’]
The fact is, Obamacare has been hated by a majority since day one, and that hatred has only increased as people found out just how bad the health insurance really is under Obamacare. Even Comrade Bernie Sanders thinks it’s a joke, although his answer is single payer nationalized healthcare just like we have with the Veterans Administration.
He should know, since he was in charge of the oversight committee when the Democrats were in charge of the Senate. He wants the American healthcare system run just like he helped run it back when he was in charge. He firmly believes that the government is never wrong.
As for Cankles Klinton? She’s going full bore in support of this mess. Obamacare isn’t all that different from her original plan, Hillarycare. The only thing missing is putting patients into prison for paying their own bills and doctors in jail for accepting payment for their services from their patients.
The Obamacare death spiral is well underway. If nothing is done, (Which will be the case under President for Life Cankles), it will fully collapse in the next three to 5 years, if not sooner.
Thatisall
~The Angry Webmaster~
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