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August 10, 2013
Another nail in their coffinTopics: Political News and commentaries
Surprise-Surprise, of course we knew this would happen.
Let's put aside for a moment that Obama committed another Unconstitutional act by setting back the day of doom until 2015
This piece of legislation should have gone through for what it was; Obama's Health Care and Rationing act with death panels include.
There can be no better example of Taxation without Representation, when members of congress succumbed to bribes, kick backs, and dancing in the dark behind closed door.
As Dr. Susan Berry discussed at Andrew Breitbart's Big Government on August 8: 'Major Health Insurers Abandon ObamaCare Exchanges'(Emphasis added):
Anthem Blue Cross, Aetna, United Health Group, and Humana have all decided against participating in various states ObamaCare health insurance exchanges. The exchanges, which are scheduled to begin operation on October 1st, will be the only place Americans can purchase health insurance using federal subsidies granted by President Obama's signature healthcare reform law.More here.
According to ObamaCare's individual mandate, all Americans are required to purchase a government-approved health insurance plan. Americans who do not obtain health insurance through an employer or Medicaid must purchase it through the exchanges in their home state. Some exchanges will be run by the state government, while others by the federal government or a combination of the two.
In the wake of the withdrawal of major health insurers from some state exchanges, state insurance officials are emphasizing that their states will have plenty of "choice" and "competition" come October 1st.
CNS News.com reports that Aetna, a fortune 100 company with $34.2 billion in revenue, has left the exchanges in three states, including Connecticut, home of its main headquarters.
According to the Hartford Courant, Aetna withdrew it's application to sell individual health insurance plans through a public exchange after the state Insurance Department told the insurer its proposed rates were too high.
The Courant indicates that, when state regulators told Aetna its rates were too high, the company did not accept the modified rates.
This is not a step taken lightly, and was made as part of [a] national review of our exchange strategy, said Aetna spokeswoman Susan Millerick. Unfortunately, we believe the modifications to the rates filed by Aetna will not allow us to collect enough premiums to cover the cost of the plans and meet the service expectations of our customers.
The Courant reports the Connecticut Insurance Department said that Aetna's price reflected a 10 percent assumed increase in medical and pharmacy services, and that the department wanted that decreased to 8.5 percent. In addition, the Insurance Department would not allow for an 8.1 percent risk adjustment since the Department does not allow risk adjustments in the first year of pricing.
Kevin Counihan, CEO of Connecticut's health exchange, reportedly said that consumers will continue to have considerable choices without Aetna.
However, according to USA Today, only three insurers remain in Connecticut to offer individual health plans in the exchange.
Aetna is also withdrawing from Maryland's exchange for individual health plans and from Georgia's exchange for both individual and small-group plans. Aetna is also not participating in California's exchange, although it had reportedly never planned to do so.
Cross posted from WeThe People Blog.
Posted by DancingCzars at August 10, 2013 6:27 PM
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