Wednesday, May 18, 2016

ObamaCare Insurer Participation Drops 27% In First Three Years

by JASmius

You know the old saying: You attract far fewer ants with urine than Mellow Yellow.  Particularly when it's aimed at your face:
The amount of insurance companies participating in ObamaCare has declined by more than 25% since 2013, according to a new report.'
A Heritage Foundation analysis found that 287 insurance companies are doing business on the Obamacare [cartel] in 2016. Shortly before the [Una]ffordable Care Act went into effect three years ago, that number was at 395 — amounting to a 27% drop.

Last year, there were 307 health insurance companies offering plans on the [cartel]s.

The Heritage Foundation data also shows that twenty-two States plus the District of Columbia have fewer health insurance companies on their exchanges this year compared to last year, as opposed to the ten States that have more.

Forty-five insurers left State [cartel]s after 2015 and twenty-five entered the [cartel]s, hence the difference of twenty between 2015 and 2016. Of those forty-five companies who departed the [cartel]s, thirty-one exited voluntarily, according to the Heritage Foundation.

Private health insurance carriers were all gung-ho about ObamaCare because they were promised by The One that the government would cover all their massive losses from the program through the "risk corridor" scheme.  When the GOP quietly abolished that corrupt angle (thank you, Senator Rubio), private health insurance carriers had much less incentive to participate in the cartels, and they are steadily bailing out of it, and will continue to do so until, barring the feds fascistically forcing them back in, none are left.

One company is taking a Trumpie tack and simply suing the Regime for their back-taxpayer boodle:

Insurer Highmark Inc. has filed suit against the federal government, saying it owes the company almost $223 million under the [Una]ffordable Care Act program's "risk corridors," which are set in place to limit the risks undertaken by companies taking part in ObamaCare marketplaces.

"All we're asking is for the federal government to do what they promised," Highmark Health chief executive, David Holmberg, told the Wall Street Journal. [emphasis added]

Is that all?  THIS federal government?  Seriously?

Lotsa luck, Highmark.  I hope you're heading for the exits at the same time, because cutting your losses is the best you're going to do.

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