Top insurer warns that Obamacare enrollment mix worse than expected

View previous topic View next topic Go down

Top insurer warns that Obamacare enrollment mix worse than expected

Post  fshnski on Fri Jan 10, 2014 12:12 pm

Humana Inc., the nation's fourth-largest health insurer by market share, warned Thursday that the risk pool of applicants for insurance through President Obama's health care law would be worse than previously expected.

Ever since the botched rollout of the health care law's exchanges in October, the policy community has been eager to know more about the mix of individuals signing up for insurance through the law.

Because the law forces insurers to cover those with pre-existing conditions, insurers need to attract a critical mass of young and healthy individuals with lower medical costs into the exchanges to offset the cost. But the Obama administration has yet to release demographic data on those who have picked a plan through the exchanges.

But in a filing with the Securities and Exchange Commission, Humana disclosed to investors, "as a result of the December 2013 federal and state regulatory changes allowing certain individuals to remain in their previously existing off-exchange health plans, the Company now expects the risk mix of members enrolling through the health insurance exchanges to be more adverse than previously expected."

The regulatory change Humana is referring to is the "administrative fix" announced by the Obama administration aimed at allowing individuals to remain enrolled in their current plans, which had been cancelled as a result of requirements imposed by the law. Obama announced the "fix" after a storm of criticism over his broken promise that anybody who liked their plan could keep it. Insurers had been depending on those with cancelled plans (who tend to be healthier) to end up obtaining insurance through exchanges.

Humana said that the company was "evaluating" the financial effects of the changes, but at this time, did not adjust their earnings forecast for 2014.

In the same filing, Humana said cuts to Medicare Advantage payments to private insurers made by the health care law would be steeper than expected, triggering changes to benefits.

"The Company expects to continue its standard process of seeking alternatives to minimize the disruption to Medicare beneficiaries this level of rate decline may cause," the filing read. "Such alternatives include clinical management programs, operating cost efficiencies, benefit changes, market exits and other operating strategies. In the interim, the Company also expects to continue its efforts to educate CMS, the Administration and Congress on the adverse impact such rate pressures have upon Medicare beneficiaries."


http://washingtonexaminer.com/top-insurer-warns-that-obamacare-enrollment-mix-worse-than-expected/article/2541948

_________________
"If you like your health care plan … you can keep your health care plan! … Period!"

If you like your Doctor, you can keep your Doctor.
avatar
fshnski

Posts : 4223
Reputation : 6
Join date : 2013-02-04
Location : Woofbura

View user profile

Back to top Go down

Re: Top insurer warns that Obamacare enrollment mix worse than expected

Post  News Hawk on Fri Jan 10, 2014 12:37 pm

fshnski wrote:Because the law forces insurers to cover those with pre-existing conditions...,"

Is acquiring AIDS a  pre-existing condition?

scratch


.

_________________
..."The beauty of being a liberal is that history always begins this morning..."
avatar
News Hawk

Posts : 7959
Reputation : 9
Join date : 2013-01-16
Location : Winnipesaukee & Florida

View user profile http://bwolfeboro.runboard.com/f2

Back to top Go down

House Democrats help pass GOP bill aimed at Obamacare website

Post  fshnski on Fri Jan 10, 2014 12:58 pm

The Republican-led House on Friday ended it first work week of 2014 on a familiar theme: passing a bill targeting President Obama's health care law.

But unlike most of the past 40-plus bills aimed at Obamacare, a significant number of Democrats joined Republicans to support the measure, which would require the Health and Human Services Department to notify an individual within two business days of any security breach involving personal data provided to the government during health care enrollment.

What [the bill] says is the administration has to let victims of identity theft or information theft be notified. That’s it.

The measure specifically targets the healthcare.gov website, which has been plagued by troubles since its rollout Oct. 1.

The bill passed 291-122, with 67 Democrats supporting the measure. No Republican voted "no."

Unlike past House GOP bills aimed at Obamacare, the current attempt doesn't try to repeal, replace or undo parts of the law. Instead, Republicans stressed the measure simply would improve the existing system.

"What [the bill] says is the administration has to let victims of identity theft or information theft be notified. That's it," said House Majority Leader Eric Cantor, R-Ohio. "This is a good government bill."


http://washingtonexaminer.com/house-democrats-help-pass-gop-bill-aimed-at-obamacare-website/article/2541959

_________________
"If you like your health care plan … you can keep your health care plan! … Period!"

If you like your Doctor, you can keep your Doctor.
avatar
fshnski

Posts : 4223
Reputation : 6
Join date : 2013-02-04
Location : Woofbura

View user profile

Back to top Go down

Re: Top insurer warns that Obamacare enrollment mix worse than expected

Post  Sponsored content


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum