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Message
re: Re: Obamacare; NC Premiums set to rise more than 13%
Posted on 10/22/14 at 3:35 pm to Lsut81
Posted on 10/22/14 at 3:35 pm to Lsut81
quote:
So what you are saying is the insurance companies are dropping plans in order to charge customer more because they can??? Because their costs have increased thanks to the legislation and having to provide extra stuff they didn't before?
Greater profit margin? They gave no reason but I'd bet they make more with the new plans than the old. So out with the old and in with the new.
This is a reason I wasn't a fan of Obamacare. It's so Pro-insurer.
1
Posted on 10/22/14 at 3:37 pm to NC_Tigah
quote:
Have to transition at some point. Were we abutting the deadline, companies dropping folks would still be doing so on their own. They could appeal. They could quit business altogether. Any decision they make is on their own. They built that. Someone else didn't do that for them. Their build, their decision. They are on their own.
That some point wasn't for another year
Posted on 10/22/14 at 3:38 pm to Vegas Bengal
quote:
They gave no reason but I'd bet they make more with the new plans than the old. So out with the old and in with the new
Id bet they don't being that the legislation limited the amount they could profit for one... And secondly, they aren't charging more wth the new plans and not paying anything out. They are spending a lot more too.
I'd bet their profits will remain in the 1-3% range, just as it was pre Obamacare
This post was edited on 10/22/14 at 3:39 pm
Posted on 10/22/14 at 3:38 pm to the808bass
quote:And yet all of the analysts said that the government line of business was what the other company was after when they purchased (not merged with) the other company. Having rates skyrocket in the less desirable lines of business should not have surprised anyone.
It was true that they had had a merger. It was not demonstrated that it had anything to do with their rate increases.
Posted on 10/22/14 at 3:42 pm to Lsut81
quote:
So what you are saying is the insurance companies are dropping plans in order to charge customer more because they can??? Because their costs have increased thanks to the legislation and having to provide extra stuff they didn't before?
One of the big increases in costs is the mandate that administrative costs be limited to 20% of revenue. If your administrative costs are $1M (for round numbers), you need $5M in revenue. If your administrative costs go up to $2M, you suddenly need $10M in revenue.
Posted on 10/22/14 at 3:43 pm to mmcgrath
quote:
And yet all of the analysts said that the government line of business was what the other company was after when they purchased (not merged with) the other company. Having rates skyrocket in the less desirable lines of business should not have surprised anyone.
What percentage of their business made up each of the segments? We both know you're pissing up a rope, but if you want to run down this alley, let's do it.
Posted on 10/22/14 at 3:53 pm to the808bass
It really is comical watching these libs defend Obamacare, then once their points are disproven and shattered, they go to the ole, "well i wasn't for the plan, single payer is the answer".
It's like clockwork.
It's like clockwork.
Posted on 10/22/14 at 3:56 pm to Vegas Bengal
quote:That point was whenever it is determined to be in best interest of the company.
That some point wasn't for another year
PERIOD.
It's how business works.
You know that.
Your man Obama, who is an economic illiterate, does not.
Posted on 10/22/14 at 6:06 pm to Lsut81
My BCBS is going up 15%. Increase deductibles, co-pays and total out of pocket.
But somehow I just know I'll save $2500. Liar in chief said so.
But somehow I just know I'll save $2500. Liar in chief said so.
This post was edited on 10/22/14 at 6:58 pm
Posted on 10/22/14 at 6:46 pm to Vegas Bengal
quote:
The companies that are dropping folks now are doing so on their own.
Yeah, that makes perfect sense. Those policies were a terrible deal for insurers, so they voluntarily offered them for years before the ACA.
Posted on 10/22/14 at 7:03 pm to Vegas Bengal
quote:
that customers wanted to keep
This is the part you keep missing. So the insurance company is dropping the plan a year "early". At some point these companies have to standardize plans so they can budget accordingly. That's the problem with passing a law and then giving random extensions around elections.
Posted on 10/22/14 at 7:06 pm to NC_Tigah
quote:
That some point wasn't for another year
That point was whenever it is determined to be in best interest of the company.
PERIOD.
It's how business works.
You know that.
Your man Obama, who is an economic illiterate, does not.
But but but...
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