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Message
Main Minnesota insurer leaves the ACA exchange
Posted on 9/16/14 at 5:15 pm
Posted on 9/16/14 at 5:15 pm
quote:
The "Blue Ox" of Minnesota Obamacare is calling it quits.
PreferredOne, the insurer that sold nearly 60 percent of all private health plans on Minnesota's Obamacare exchange, on Tuesday said it would leave that marketplace. PreferredOne's plans were the lowest-cost options on that exchange, known as MNSure.
PreferredOne cited the costs of doing business on MNSure as the reason for its surprising decision, saying that selling plans is "not administratively and financially sustainable going forward," according to KSTP.com, the website of that Minnesota TV News network.
LINK
Not much of a surprise. Minnesota reported some of the lowest premiums in the nation and proponents of the ACA held it up as proof that the exchanges could lower healthcare premiums. Of course, it would appear as though PreferredOne not only priced their plans too low, they're finding the people who signed up via the exchange (often with expensive pre-existing conditions) are not profitable to insure.
This post was edited on 9/16/14 at 5:18 pm
10
Posted on 9/16/14 at 5:16 pm to HailHailtoMichigan!
what a dump pile
Posted on 9/16/14 at 5:24 pm to HailHailtoMichigan!
quote:
PreferredOne, the insurer that sold nearly 60 percent of all private health plans on Minnesota's Obamacare exchange, on Tuesday said it would leave that marketplace
Why would they leave the exchange? Why not just raise prices and remain
Posted on 9/16/14 at 5:27 pm to HailHailtoMichigan!
State law in Minnesota doesn't allow them to cancel plans for atleast one year.
But they can raise the deductibles to 50 grand.
But they can raise the deductibles to 50 grand.
Posted on 9/16/14 at 5:30 pm to Lsut81
quote:
Why would they leave the exchange? Why not just raise prices and remain
Probably some stupid fricking law put in there that they cannot raise prices without an act of Congress...
But seriously, I bet they knew they were so far off and needed to raise them double or some crap like that and knew it wouldn't be allowed.
They singed a bad deal and know it's a dumpster fire of lies..
Posted on 9/16/14 at 5:30 pm to HailHailtoMichigan!
Haven't kept up with the rollout saga lately, but this quote looks bad:
Hope nobody who had those plans liked them.
quote:
"Our MNsure individual product membership is only a small percentage of the entire PreferredOne enrollment but is taking a significant amount of our resources to support administratively," a company statement obtained by KSTP said.
Hope nobody who had those plans liked them.
Posted on 9/16/14 at 5:33 pm to GeeOH
quote:
Probably some stupid fricking law put in there that they cannot raise prices without an act of Congress...
could be wrong, but I think I remember something about insurers having to justify rate increases to HHS. If that's correct, maybe they needed a big increase to keep these plans viable and the hassle of justifying it wasn't worth it?
Posted on 9/16/14 at 5:33 pm to HailHailtoMichigan!
Evidently, PreferredOne's lifetime was limited.
Posted on 9/16/14 at 5:34 pm to 90proofprofessional
quote:
taking a significant amount of our resources to support administratively
translation: "There is so much bullshite government red tape to just get paid, we can't afford to fight it anymore. frick Obama. This was stupid to begin with and he made us keep these plans so he wouldn't look even more like a lying POS"
Posted on 9/16/14 at 5:35 pm to 90proofprofessional
quote:
Hope nobody who had those plans liked them.
So I'm guessing as renewal notices go out in the next few weeks, that tons of people who enjoyed their "Extremely discounted" coverage, will be paying a shite ton more.
Posted on 9/16/14 at 5:37 pm to Lsut81
quote:
Why would they leave the exchange? Why not just raise prices and remain
Sometimes the middle man causes more problems than the profit is worth, if there is any profit at all. Raising prices won't ease that burden, and it's a risk whether the increased prices will actually result in more profit.
They were on the exchange to appease their state legislators, not to make money. They were already doing that, and with much less regulation.
Posted on 9/16/14 at 5:39 pm to HailHailtoMichigan!
Posted on 9/16/14 at 5:42 pm to HailHailtoMichigan!
Where is Rex, Draconian Sanctions, Vegas Bengal, EthanL, and SpidermanTUba to explain this shite?
They said this couldn't happen, now WHERE THE HELL ARE THEY?
Admins, if none of these traitorous sons of bitches show up to explain themselves within the next 30 minutes, I recommend permanent banishment and castration effective immediately.
They said this couldn't happen, now WHERE THE HELL ARE THEY?
Admins, if none of these traitorous sons of bitches show up to explain themselves within the next 30 minutes, I recommend permanent banishment and castration effective immediately.
Posted on 9/16/14 at 5:48 pm to HailHailtoMichigan!
is there where we move forward?
Posted on 9/16/14 at 5:50 pm to Vols&Shaft83
quote:
Where is Rex, Draconian Sanctions, Vegas Bengal, EthanL, and SpidermanTUba to explain this shite?
they tried to tell u the answer was more government and single payer will fix all the problems
We should have listened. (sarcasm)
Posted on 9/16/14 at 6:04 pm to Lsut81
quote:
So I'm guessing as renewal notices go out in the next few weeks, that tons of people who enjoyed their "Extremely discounted" coverage, will be paying a shite ton more.
Before the rate increases, they'll be paying more. After - a lot more.
Posted on 9/16/14 at 6:13 pm to HailHailtoMichigan!
This news is an ersatz "death panel" for Al Franken.
Posted on 9/16/14 at 6:14 pm to HonoraryCoonass
i love how every time something like this happens its construed as "surprising"
Posted on 9/16/14 at 6:16 pm to roguetiger15
Well it's been 30 minutes, time to neuter Rex 
Posted on 9/16/14 at 6:17 pm to Vols&Shaft83
quote:
Well it's been 30 minutes, time to neuter Rex
this needs a rex fark
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