Community Chat

[itiswhatitis]

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@Carmie wrote:

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@3suwm5 wrote:

The constitution does not require the government to provide insurance for anyone.  The insurance companies are like any company, open for business to make a profit.

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There are not for profit insurance companies too,  some of BC/BS plans are nonprofits,but not for every line of business they sell.

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Yes that's true @Carmie but don't forget they get some funding statewide and often times from the Federal government.

[itiswhatitis]

GOOD DISCUSSION EVERYBODY!!!

[Starpolisher]

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@QueenDanceALot wrote:

And, of course, all of those voting won't lose anything.

 ...And that's what IRKS me the most!!! 

da*n it!!!

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[Nataliesgramma]

I don't think we will know how good or bad it will be until the 'dust settles'.

Hubby and I have a decent pension, but he will go on Medicare in Jan. and I will have to find my own ins. As of now, looking at what I would pay a month,  I would use up all our savings before I am able to get on Medicare just to pay the premiums.

I am hoping this is AT LEAST better than what we all have now even if it is not the best.

[Isobel Archer]

I'm not understanding the comments that companies like Aetna pulling out of VA or Medica about to pull out of Iowa (which would leave them with NO insurer) are lying about losing money.

Why - if as asserted - they are making money hand over fist - would they want to stop doing that - and give up  good customers?

[Marp]

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@Isobel Archer wrote:

I'm not understanding the comments that companies like Aetna pulling out of VA or Medica about to pull out of Iowa (which would leave them with NO insurer) are lying about losing money.

Why - if as asserted - they are making money hand over fist - would they want to stop doing that - and give up  good customers?

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Good question.

Excerpt: 

“Aetna’s 2016 results exceeded previous projections despite continued challenges in the public exchanges, and I have a great deal of confidence in the company’s future, including our long-term prospects for growth,” said Mark T. Bertolini, Aetna chairman and CEO. “As we consider next steps in our proposed acquisition of Humana, we remain focused on our core strategy to deliver innovative, consumer-centric solutions that improve quality, affordability and the overall member experience.”

“We closed 2016 with a solid quarter driven by outperformance across multiple businesses, which offset continued pressure from our individual Commercial ACA-compliant products,” said Shawn M. Guertin, Aetna executive vice president and chief financial officer. “Our 2016 results provide us with significant momentum and a positive outlook for the company in 2017. From a balance sheet perspective our financial position, capital structure, and liquidity all continue to be very strong.”

https://news.aetna.com/news-releases/aetna-reports-fourth-quarter-and-full-year-2016-results/

[Isobel Archer]

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@Marp wrote:

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@Isobel Archer wrote:

I'm not understanding the comments that companies like Aetna pulling out of VA or Medica about to pull out of Iowa (which would leave them with NO insurer) are lying about losing money.

Why - if as asserted - they are making money hand over fist - would they want to stop doing that - and give up  good customers?

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Good question.

Excerpt: 

“Aetna’s 2016 results exceeded previous projections despite continued challenges in the public exchanges, and I have a great deal of confidence in the company’s future, including our long-term prospects for growth,” said Mark T. Bertolini, Aetna chairman and CEO. “As we consider next steps in our proposed acquisition of Humana, we remain focused on our core strategy to deliver innovative, consumer-centric solutions that improve quality, affordability and the overall member experience.”

“We closed 2016 with a solid quarter driven by outperformance across multiple businesses, which offset continued pressure from our individual Commercial ACA-compliant products,” said Shawn M. Guertin, Aetna executive vice president and chief financial officer. “Our 2016 results provide us with significant momentum and a positive outlook for the company in 2017. From a balance sheet perspective our financial position, capital structure, and liquidity all continue to be very strong.”

https://news.aetna.com/news-releases/aetna-reports-fourth-quarter-and-full-year-2016-results/

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So why do they want to shed paying customers?  How is that good for business?  They are not raising rates or cutting coverage, they are leaving the state of VA.

And why - with Medica pulling out - will there be no coverage in Iowa?  No insurance company can make money there?  They don't want to make money?

This is just not making sense to me at all.  If the argument is that the problem is the the evil insurance industry gauging customers - why are they stopping - why are they pulling out?

[Carmie]

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@Isobel Archer wrote:

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@Marp wrote:

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@Isobel Archer wrote:

I'm not understanding the comments that companies like Aetna pulling out of VA or Medica about to pull out of Iowa (which would leave them with NO insurer) are lying about losing money.

Why - if as asserted - they are making money hand over fist - would they want to stop doing that - and give up  good customers?

---

Good question.

Excerpt: 

“Aetna’s 2016 results exceeded previous projections despite continued challenges in the public exchanges, and I have a great deal of confidence in the company’s future, including our long-term prospects for growth,” said Mark T. Bertolini, Aetna chairman and CEO. “As we consider next steps in our proposed acquisition of Humana, we remain focused on our core strategy to deliver innovative, consumer-centric solutions that improve quality, affordability and the overall member experience.”

“We closed 2016 with a solid quarter driven by outperformance across multiple businesses, which offset continued pressure from our individual Commercial ACA-compliant products,” said Shawn M. Guertin, Aetna executive vice president and chief financial officer. “Our 2016 results provide us with significant momentum and a positive outlook for the company in 2017. From a balance sheet perspective our financial position, capital structure, and liquidity all continue to be very strong.”

https://news.aetna.com/news-releases/aetna-reports-fourth-quarter-and-full-year-2016-results/

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So why do they want to shed paying customers?  How is that good for business?  They are not raising rates or cutting coverage, they are leaving the state of VA.

And why - with Medica pulling out - will there be no coverage in Iowa?  No insurance company can make money there?  They don't want to make money?

This is just not making sense to me at all.  If the argument is that the problem is the the evil insurance industry gauging customers - why are they stopping - why are they pulling out?

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Most health insurance companies sell more than one line of business.  They might offer Medicare Supplements and/or get paid to process claims for Medicare.  They probably offer health insurance to employers as group plans, etc.

Those lines of business might be profitable for them.  ACA insurance has not proven to even break even for most insurance companies.  They cost companies money and companies are using their reserves to pay claims.  They drop out because they are losing millions on ACA insurance.

Many people have been disappointed to find out their favorite Advantage Plan has gone way up in price or dropped altogether for the same reason.

[Isobel Archer]

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@Carmie wrote:

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@Isobel Archer wrote:

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@Marp wrote:

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@Isobel Archer wrote:

I'm not understanding the comments that companies like Aetna pulling out of VA or Medica about to pull out of Iowa (which would leave them with NO insurer) are lying about losing money.

Why - if as asserted - they are making money hand over fist - would they want to stop doing that - and give up  good customers?

---

Good question.

Excerpt: 

“Aetna’s 2016 results exceeded previous projections despite continued challenges in the public exchanges, and I have a great deal of confidence in the company’s future, including our long-term prospects for growth,” said Mark T. Bertolini, Aetna chairman and CEO. “As we consider next steps in our proposed acquisition of Humana, we remain focused on our core strategy to deliver innovative, consumer-centric solutions that improve quality, affordability and the overall member experience.”

“We closed 2016 with a solid quarter driven by outperformance across multiple businesses, which offset continued pressure from our individual Commercial ACA-compliant products,” said Shawn M. Guertin, Aetna executive vice president and chief financial officer. “Our 2016 results provide us with significant momentum and a positive outlook for the company in 2017. From a balance sheet perspective our financial position, capital structure, and liquidity all continue to be very strong.”

https://news.aetna.com/news-releases/aetna-reports-fourth-quarter-and-full-year-2016-results/

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So why do they want to shed paying customers?  How is that good for business?  They are not raising rates or cutting coverage, they are leaving the state of VA.

And why - with Medica pulling out - will there be no coverage in Iowa?  No insurance company can make money there?  They don't want to make money?

This is just not making sense to me at all.  If the argument is that the problem is the the evil insurance industry gauging customers - why are they stopping - why are they pulling out?

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Most health insurance companies sell more than one line of business.  They might offer Medicare Supplements and/or get paid to process claims for Medicare.  They probably offer health insurance to employers as group plans, etc.

Those lines of business might be profitable for them.  ACA insurance has not proven to even break even for most insurance companies.  They cost companies money and companies are using their reserves to pay claims.  They drop out because they are losing millions on ACA insurance.

Many people have been disappointed to find out their favorite Advantage Plan has gone way up in price or dropped altogether for the same reason.

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So that would mean they are not lying when they say ACA is causing them to lose money - and they are pulling out in order to stop the bleeding.