Insidehealthpolicy.com is a subscriber-only web site, which discusses, as you might expect, health care.
One of its latest articles surmises that, because insurance companies cannot profit from ObamaCare’s so-called “bronze’ plans (the ones that cost the least amount of money), they will be dropped by insurance carriers.
Here is the start of the article – before the “you can’t read it unless you subscribe” part kicks in….
Bronze plans appear to be the least profitable across the health insurance market in 2014, based on recent CMS data on issuers that paid into the risk adjustment program and who were paid for taking on more risk — a finding that has some experts worried insurance companies could stop offering bronze-level coverage. The first example of this may be a Virginia CareFirst BlueCross BlueShield subsidiary that will transform its bronze plans into silver-level plans for 2017…
…and here is how Leslie Small, at fiercehealthpayer.com, sees the fallout:
Given the low profitability of bronze plans in the Affordable Care Act exchanges, some health insurers might stop offering policies on that metal tier, Inside Health Policy reports.
Already, filings show a CareFirst BlueCross BlueShield subsidiary in Virginia will transform its bronze plans into silver-level plans for 2017, according to Inside Health Policy, and experts tell the publication this could set a troubling precedent for the industry.
If insurers do drop their bronze plans, it would have the effect of further destabilizing the marketplace, according to Sean Mullin, a senior director at Leavitt Partners. That’s because such enrollees, which tend to be lower-risk and want the cheapest plans, will likely leave the marketplace altogether, further depleting the exchanges’ share of healthier enrollees.
Can this possibly be a surprise? Can anyone possibly think that “insurance” which overcharges the healthiest/least-likely-to-use-it segment to subsidize, even pay entirely for, a variety of others…including people who contribute nothing and even illegal aliens who have no legal right to be here in the first place…would find success in the marketplace?
ObamaCare was, and remains, an unworkable monstrosity. Instead of addressing the significant revisions to our health care system which were necessary in some logical way, the Obama administration has managed to screw it up in every way.
And, yes, the people who think this was intentionally done to force us into a single-payer system have a point. No way to know for sure, but maybe that was exactly the plan all along.
How many days to January 20, 2017? And, given our likely choices in November, does it even matter?