UnitedHealth expects to lose nearly $1 billion on Obamacare

[keck553]

UnitedHealth (UNH), which is weighing an exit from the Obamacare exchanges, reported it lost about $475 million on Obamacare-compliant plans in 2015 and expects to lose more than $500 million this year.

The insurer, the parent company of United Healthcare, ended last year with about 500,000 enrollees in Obamacare exchange plans. It expects that number to grow towards 800,000 during the 2016 open enrollment period, which ends Jan. 31, before dropping again as some members get jobs, stop paying premiums or find insurance elsewhere. (Also in 2015, it had about 150,000 enrollees who signed up outside the exchanges for individual policies that are compliant with Obamacare.)

UnitedHealth, which sat out the first year of Obamacare in 2014, said itis not looking to grow its exchange business. Instead, it has increased prices, eliminated marketing and commissions and withdrawn its top-tier products. In an effort to stem the losses, it is also working more closely with providers and enrollees to manage their illnesses and care. UnitedHealth warned in November that it might pull out of the Obamacare exchanges altogether in 2017, citing higher-than-expected claims. In particular, it blamed the large number of members signing up outside the open enrollment period who were using a lot of medical services.


http://money.cnn.com/2016/01/19/news...are/index.html

[Reynolds357]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

I am telling you, Obama care is working exactly how Obama wants it to work. He wants it to be so bad that we will WELCOME single payer (true socialized medicine) to get out from under Obama care.

[Simple Man]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

UnitedHealth (UNH), which is weighing an exit from the Obamacare exchanges, reported it lost about $475 million on Obamacare-compliant plans in 2015 and expects to lose more than $500 million this year.

The insurer, the parent company of United Healthcare, ended last year with about 500,000 enrollees in Obamacare exchange plans. It expects that number to grow towards 800,000 during the 2016 open enrollment period, which ends Jan. 31, before dropping again as some members get jobs, stop paying premiums or find insurance elsewhere. (Also in 2015, it had about 150,000 enrollees who signed up outside the exchanges for individual policies that are compliant with Obamacare.)

UnitedHealth, which sat out the first year of Obamacare in 2014, said itis not looking to grow its exchange business. Instead, it has increased prices, eliminated marketing and commissions and withdrawn its top-tier products. In an effort to stem the losses, it is also working more closely with providers and enrollees to manage their illnesses and care. UnitedHealth warned in November that it might pull out of the Obamacare exchanges altogether in 2017, citing higher-than-expected claims. In particular, it blamed the large number of members signing up outside the open enrollment period who were using a lot of medical services.

So, I just wonder who will cover these loses for the insurance companies who lose money? Maybe they will just absorb the losses? Or maybe it will be some other way??

[Reynolds357]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

So, I just wonder who will cover these loses for the insurance companies who lose money? Maybe they will just absorb the losses? Or maybe it will be some other way??

The losses will be covered from other revenue the company generates from its other premiums. So, you and I pay for it.

[joined2him]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

I am telling you, Obama care is working exactly how Obama wants it to work. He wants it to be so bad that we will WELCOME single payer (true socialized medicine) to get out from under Obama care.

Exactly right. That's been the plan all along.

[keck553]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

So, I just wonder who will cover these loses for the insurance companies who lose money?

The middle class, who else?

[keck553]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

I am telling you, Obama care is working exactly how Obama wants it to work. He wants it to be so bad that we will WELCOME single payer (true socialized medicine) to get out from under Obama care.

looks like the Bern has "perfect timing." Coincidence?

[James_Roberts]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

looks like the Bern has "perfect timing." Coincidence?

Hardly. Single payer socialized medical care is what the liberal Democrats are aiming for. Let's not forget, the Republicans could have killed ObamaCare in Congress, but didn't. The establishment Republicans are to blame too.

[dan]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

That's sorta funny, in a way.

Rush Limbaugh said 4 years ago, if I recall correctly, that Obamacare was designed to run the insurance companies out of business.

Rush also claimed that the guvmint is temporarily paying the insurance companies to make up for part of their losses.

[EarlyCall]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

As much debt as this nation is running up, in time it will take so much of our money just to pay the interest on it.

At some point, they will come to know you can't get blood from a turnip - even if you plug it full of IVs.

[keck553]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

At least Rubio killed the slush fund Obama was going to ransom to the insurance companies who signed on to his wacky Ponzi scheme.

[dan]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

At least Rubio killed the slush fund Obama was going to ransom to the insurance companies who signed on to his wacky Ponzi scheme.

Really?

Where is the 500 billion dollar grant that disappeared for Solyndra?

What about the 735 million dollars given to Nancy Pelosi's brother-in-law for a solar power station named "Crescent Dunes?"

It seems to me that we have paid for a whole bunch of I-don't-know-what.

[EarlyCall]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

I just read yesterday that another promise made by obama that illegal aliens would not receive any benefits from his healthcare nightmare is anything but true. About 750 million has gone to illegal aliens.

what congressmen or senator was that that yelled out "you lie" when obama made that claim? Yea, he was right - obama was just telling one more lie in a long list of lies.

[keck553]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

Really?

Where is the 500 billion dollar grant that disappeared for Solyndra?

It's running through Debbie Blabbermouth's Shultz's organization and being laundered right into Hillary's campaign fund, where else?

[EarlyCall]

Re: UnitedHealth expects to lose nearly $1 billion on Obamacare

It's running through Debbie Blabbermouth's Shultz's organization and being laundered right into Hillary's campaign fund, where else?

Oh I can't stand that woman. She is about as dumb a person as I've ever seen. She can't even lie well. I wish so much she would get the democrat nomination. We could run the Cookie Monster and win against her.