Posted by: the daily messenger | May 14, 2017

before Obamacare the Insurance companies made $6 billion a year and after Obamacare $16 billion per year

Major Insurance Company Ditches Obamacare, Profits Skyrocket
UnitedHealthcare Group’s quarterly profit skyrocketed after the insurance provider drastically downsized its participation in the Obamacare exchanges.
The company’s profit rose by 35 percent in the first-quarter of 2017, and expanded nearly every aspect of its operation, including its participation in Medicare Advantage and Medicaid plans, The Associated Press reports. In total, UnitedHealth brought in $2.17 billion in first-quarter earnings, with $48.72 billion in revenue. Shares of UnitedHealth are up 1.08 percent as of 2:12 p.m. Tuesday afternoon.
UnitedHealth’s operating income also rose outside of its health insurance offerings. The company experienced a 16 percent bump in operating earnings from Optum, another facet of UnitedHealth. Optum provides it with pharmacy benefits management and technological capabilities, as well as a network of doctor and clinical offices.
Following what amounted to a $475 million loss from participating in the exchanges in 2015, UnitedHealth announced in April 2016, that it would back out of all but a “handful” in 2017. The group expected to lose as much as $800 million in 2016.

“The smaller overall market size and shorter term, higher-risk profile within this market segment continue to suggest we cannot broadly serve it on an effective and sustained basis,” UnitedHealthcare Group CEO Stephen Hemsley told reporters in 2016. “Next year, we will remain in only a handful of states, and we will not carry financial exposure from exchanges into 2017.”
UnitedHealth is not alone. Insurance providers Aetna and Humana are also leaving the exchanges.

http://dailycaller.com/2017/04/18/major-insurance-company-ditches-obamacare-profits-skyrocket/
Health insurance industry rakes in billions while blaming Obamacare for losses
Major insurance companies are enjoying record profits but claim they are losing money under the Affordable Care Act
https://www.consumeraffairs.com/news/health-insurance-industry-rakes-in-billions-while-blaming-obamacare-for-losses-110116.html
Major health insurance company CEO says Obamacare is in a ‘death spiral’
http://www.theblaze.com/news/2017/02/15/major-health-insurance-company-ceo-says-obamacare-is-in-a-death-spiral/

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Categories