As more information regarding the Patient Protection and Affordable Care Act, Obamacare, is exposed, Americans around the country are waking up to the fact that this piece of legislation is anything but affordable. Participating health insurance companies have also discovered that limitations some state governments place on rates would not allow companies to make money. CNSnews.com reported "major health insurance companies – Blue Cross, Aetna, United, Humana – have decided not to participate in various states in the Obamacare health-insurance exchanges that will be the only place Americans will be able to buy a health insurance plan, using the federal subsidies that the Obamacare law authorizes."
Under the law, all Americans must purchase health insurance that meets minimum government established specifications. Those who do not have health insurance through their employer, or are not on Medicaid, must purchase health insurance through their home state's insurance exchange program. "Individuals and families making up to 400 percent of the federal poverty level will qualify for a federal subsidy which will help them purchase their government-mandated insurance – but only if they buy their insurance on the government-run exchange." Insurance companies participating in the exchange programs are required to accept customers with pre-existing conditions and provide services mandated by the law itself or regulations issues under the law; this mandate increases the insurance companies' costs.
According to CNSnews.com:
Aetna, a fortune 100 company with $34.2 billion in revenue, has pulled out of the government-run exchanges in three states, including the state of Connecticut, where it is based.
Founded in Hartford, Conn., in 1850, Aetna withdrew its application to participate in that state on Monday, the Hartford Courant reported. The company said it was withdrawing from there and in Georgia and Maryland because limitations the state governments would impose on their rates would not allow them to make money.
"We have spent considerable time identifying those states in which we can be competitive and add the most value to the market," Aetna said in a statement. "As a result of our analysis, we have reluctantly concluded that we will withdraw certain Individual Exchange filings for 2014, including filings in Connecticut, Georgia and Maryland."
"This is not a step taken lightly, and was made as part of a national review of our Exchange strategy," the company said. "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."
Aetna has decided not to participate in state exchanges in California. According to a spokesman, the company never intended to participate in California's exchange program.
"We did not withdraw exchange plans in California, as we never planned participation nor filed [Qualified Health Plans] QHPs to participate in the California exchange," a spokesman said.
United Health Group, the largest insurer in the United States, has also decided to pass on participation in the California exchange. Anthem Blue Cross withdrew its bid to participate in California's Obamacare exchange market.
Aetna will continue to sell health insurance directly to employers in California – outside of the government system; but, the company will cease selling health insurance policies to individuals in California entirely leaving 50,000 existing individual policyholders searching for new coverage in January.
For those remembering the promises from the Obama administration and believed them – "if you like your health insurance, you can keep it; no one will take it away" and "if you like your doctor, you can keep your doctor" – this announcement by the insurance companies comes as a slap in the face. However, this administration never intended to make good on any so-called promise or statement. Their goal was a simple one: get every American under government mandated healthcare so they can be controlled.
Now that insurance companies have discovered the increased cost of participation, the leading health insurance providers are not willing to participate in certain states. Did anyone not see this coming? Reports have appeared to project the increase in health-insurance premiums by state for individual and family coverage through the government run exchanges; now, insurance companies cannot "collect" enough premiums to cover the plan cost and meet their customers' service expectations. Americans who supported this monstrosity should be discovering what those of us knew all along – Obamacare was not designed to enhance health insurance coverage for all Americans but limit it.
If the Obama administration and Congress try to claim ignorance of or surprise at any of this news, they should get an academy award for best acting. However, they were not surprised by this nor were they ignorant. As soon as it was discovered, Washington would have to abide by this abominable healthcare law, Washington opted itself out after many threatened to leave their post. The ruling "elite" have, once again, stuck it to the average American while they enjoy their tax payer subsidized "golden" fleece health care.
The message is becoming loud and clear to the American public: "We, the government, have ordained that we are in control and you, the people, will follow the law while we decide which ones we will follow while you continue to pay more and more to us to manage you."Don't forget to Like Freedom Outpost on Facebook, Google Plus, & Twitter. You can also get Freedom Outpost delivered to your Amazon Kindle device here.