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Is Obamacare Unraveling?

  1. Stacie L profile image89
    Stacie Lposted 10 months ago

    Is this how Obamacare unravels?
    More than half of Obamacare's 23 approved healthcare cooperatives announced they were closing up shop because they were simply losing too much money.

    The reality is that the risk corridor has been a disaster. Insurers have requested $2.87 billion to help cover excessive losses tied to Obamacare plans, but they'll be receiving just 12.6% of this amount, or $362 million -- a nearly $2.5 billion shortfall. This is why more than half of Obamacare's co-ops went belly up, and it could be another reason UnitedHealth Group has threatened to leave the Obamacare marketplace exchanges. 

    http://www.msn.com/en-us/money/healthca … li=BBnb7Kv
    Is Obamacare (Affordable care Act) going to be around much longer or disappear due to rising costs?

    1. john000 profile image91
      john000posted 10 months ago in reply to this

      What I find interesting is that conservatives fought tooth and nail against this and were characterized as neanderthalic (if that is a word) and insensitive. So much has backfired the way those insensitive folks described that why don't we hear about them being prophets?

    2. Patty Inglish, MS profile image91
      Patty Inglish, MSposted 10 months ago in reply to this

      In my market area, a number of people ages 60+ received notices that they cannot retire with full SS benefits until age 66 or 67. However, when they reached age 65, their insurance under Obamacare was cancelled without notice on the last date of their birthday month. Next, they received notices on Nov 30 that they had only until Dec 7 to apply for mandatory Medicare.

      It seems that the ADA is not working for people ages 65 - 67 at this time. An overhaul seems needed.

      1. wilderness profile image96
        wildernessposted 10 months ago in reply to this

        Yes, that's how it works.  You may not carry private insurance and have medicare at the same time, so it is canceled.  At the same time, medicare becomes your "insurance carrier", with an option to purchase additional insurance to expand medicare.  Everyone that turns 65 has it happen.

        1. Patty Inglish, MS profile image91
          Patty Inglish, MSposted 10 months ago in reply to this

          Thanks! At least I now know this for the future.