- Americans eat too much of the wrong kind of food, resulting in obscenely high obesity rates for the country.
- Our food chain is infested with overdoses of high fructose corn syrup, salt, and other unhealthy additives.
- Americans smoke too much.
- Americans do not exercise enough.
- The country is in serious need of health care tort reform.
- Barriers to insurance company competition across state lines need to come down.
- Obama Care never “followed the money” to find out who is actually profiting from the ever escalating healthcare costs in this country and how to get those factors under control.
- Obama Care never got the immense amount of fraud and abuse in current government healthcare programs, Medicare and Medicaid, under control in order to save money to efficiently fund other government health care initiatives.
- Obama Care never put serious research money towards curing the major diseases that drive high healthcare costs such as high frequency cancers and dementia type diseases.
- Unitedhealthcare,the country’s largest health insurance provider, is getting out of most of the 34 states where it sells Obama Care insurance policies in 2017 because it cannot make money in those states.
- The company lost $650 million on those policies in 2015.
- A recent report from the Kaiser Family Foundation stated that if the company leaves the state of Oklahoma, only one company will be left selling Obama Care policies in that state.
- If the company gets out of every one of those 34 states, not just most of them, the share of counties across the country with only one or two Obama Care insurers will jump from 36% to 52% and the share of Obama Care policy enrollees with only one or two carriers will double from 15% to just under 30%.
- If those former Unitedhealthcare customers go to other Obama Care carriers, you can probably expect those health insurance companies to see their financial results to also go south since they will be serving the same Unitedhealthcare customers that Unitedhealthcare could not make a profit on.
- The Blue Cross Blue Shield Association, whose member companies are the biggest health insurers in the Obama Care world, reported that Obama Care policy holders are 22% more costly than the customers they serve that have employer based insurance coverage.
- Mr. Cannon points out another negative wrinkle within the whole Unitedhealthcare situation: “Unitedhealth generally didn’t have the lowest-cost premiums in the Exchanges. The fact that it still lost money provides further evidence of significant adverse selection. It suggests high cost patients are shopping for the most comprehensive benefits, regardless of premium; that Unitedhealth offered coverage that was attractive to the sick; and the company thus attracted a particularly costly group of enrollees.”
- Unitedhealthcare also assumed that its current enrollment will drop 18% over the course of this year, with a lot of the reduction driven by current customers that cannot afford their policies despite Obama promising that annmual family health insurance costs would go down by upwards of $2,500.
- A McKinsey analysis recently found that despite getting subsidized by the Federal government’s reinsurance program, 70% of Obama Care insurance companies were still losing money on those policies and the average profit margin of all Obama Care insurance companies was negative in 41 states.
- Obama Care insurance costs will continue to rise in 2017 because of how bad it program it is and because those sicker and less healthy Unitedhealthcare customers, the ones that cost that company to lose so much money, will seek out other Obama Care carriers and by law, those carriers must accept these higher cost customers.
- Given this rising premium and sicker than expected customer scenario, the author predicts that more companies will leave the program if they are not allowed to substantially raise their insurance policy costs in 2017.
Just about any human endeavor that finds itself in a death spiral never gets out of it until that death spiral collpases into failure. That is what we are witnessing today as the Obama Care logic, structure, and realities begin their relentless trend downward.
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