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Thread: Obamacare Co-ops going caput

  1. #1

    Obamacare Co-ops going caput

    Congressional lawmakers are raising alarm over the rapid collapse of several so-called ObamaCare "co-ops" -- government-backed alternative health plans -- that are failing, leaving tens of thousands of customers scrambling for coverage, and billions in taxpayer-funded startup loans at risk.

    To date, nearly half of the 23 co-ops established under the Affordable Care Act have gone or are expected to go under by the end of the year.

    $2.4B lost to this grand $#@!ing experiment.

    Who would have guessed it, government can't provide affordable quality insurance.

  • #2
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    No way, I'm waiting for my $2,500 check right now. My family doctor of 20 years says he has it at his offce. I can pick it up next time I go in for a check up.

  • #3
    Too big to fail....tax the rich more!

  • #4
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    Well color me shocked.

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    Quote Originally Posted by Dillo Pad View Post
    Well color me shocked.
    So $#@!ing racist

  • #6
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    saw this on the news the other night (on CBS of all places)...thought about coming here to post it, but my energy for this forum is waning.

    this place isn't as cool sober with out the proper foil and having to read about Donald Trump all of the time.

    I am not sure what a 'CO-OP' is in this sense, but it doesn't sound to be anything viable from this story

    ovember 1, 2015

    SHARYL ATTKISSON: Last week, we looked at the many challenges facing ObamaCare. The ObamaCare co-ops are nonprofit insurers that were intended to help provide competition and they received $2.5 billion in low-interest loans at taxpayer expense. But they are falling like dominoes. This week, Utah joined the list, list making 10 failures out of 23 and some predict the majority of the co-ops could flat line by the end of the year. Scott Thuman went to one state where their co-op is going under.

    SCOTT THUMAN: Yeah, big problems Sharyl. We went to Nevada to talk to people who joined the co-ops because of their own already rising health care costs. And now find themselves in a worse place than where they started.

    STEPHEN MANGION: The doctor said, I said, am I going to be in pain. And he said yes, you’re going to be in a lot of pain, you might not be able to work and there's nothing I can do for you. You can pay cash out of pocket but it's $800.

    THUMAN: So it was either be in pain or owe a lot of money you don’t have?

    MANGION: Yes.

    THUMAN: That was 30-year old Stephen Mangion’s medical nightmare. The meat grinder at Larry’s Great Western Meats in Nevada was battling back pain and engaged in a second battle with his provider. Is that scary?

    MANGION: Yes. To wake up to find out that you’re not going to get your medicine the next day that you need and you’re depending on to get you through the next day. Yes.

    THUMAN: He’s talking about the Nevada Health Co-Op where he gets insurance, though not for long. Nevada is now one of 23 co-ops created by the Affordable Care Act known to most as ObamaCare. It is also one that is failing and will shut down at the end of the year. It’s a number that is growing.

    ROBERT LASZEWSKI: And so here we are, just two years into ObamaCare and they are dropping like flies and no one is surprised.

    THUMAN: Robert Laszewski is a health industry analyst.

    LASZEWSKI: The federal government is going to spend more than $2 billion on this really stupid idea that turns out never worked. It was awfully naive to think that you could put people in business in the most problematic part of the market and they were going to take on the insurance giants and show them how it was done. I mean, this is just a government fiasco.

    THUMAN: He says the co-ops faced a stacked deck from the beginning.

    LASZEWSKI: The insurance companies generally don’t make money in the individual market. They make it elsewhere. They make it in Medicare, they make it in employer-based care. So the co-ops could only be in the problematic part of the market no one has ever made money in. And then the co-ops could only take financing from the federal government. They didn’t have the ability, they don't have the ability to go raise more capital outside of the government.

    THUMAN: Eli Corey is the owner of Great Western Meats. Earlier this year, he signed up with the Nevada program for himself and his workers, including Mangion. The problems were evident almost immediately.

    ELI COREY: Every month, our insurance used to cancel. The first few months I saw, are we paying the bills on time? Come here, check the system, no, the bills are being paid, checks are being cleared. Called them up and said, oh we have an error in the system. We have to reinstate everybody end of the month and now we’re having problems with doctors now.

    THUMAN: So doctors didn’t want to see you because you were using the co-op?

    COREY: Yeah, they would prefer something else because like they feel bad for you and they give you the look like, oh, is there a problem?

    THUMAN: In fact, so many problems from the taxpayer-funded program that in August the director announced based on challenging market conditions, the board made a painful decision to wind down operations at the end of this year.

    COREY: I feel bad because it is local. It’s co-op, it’s nonprofit. I feel bad to see a nonprofit company closing when other companies are cashing out billions and trillions of dollars. I think they probably have to work it out better. You can't offer something for free. Even if it’s a non-profit you have to cover your minimums and I think they did it wrong from day one. When you set up something and you start losing money, it's wrong.

    THUMAN: Now Corey, his employees, and about a half-million other co-op customers across the country are scrambling to find new health care by the end of the year.

    COREY: When I heard they news that they were closing I said okay, it’s not a big surprise because the way they are operating, I don't think a lot of people are going to take that.

    THUMAN: The government is now closely motoring the remaining co-ops, even putting them on informal watch lists and warning them to take corrective action but many feel they may be too far gone to resuscitate.

    ATTKISSON: What are they monitoring them for at this point? What can they do?

    THUMAN: Well, they are really just trying to tighten the reins a little bit on an industry that for the most part seems to be self-governing but failed to do so well.

    ATTKISSON: One additional note from our friends at the Daily Caller. They say 18 out of the 23 co-ops paid their top executives huge salaries ranging from $263,000 to $587,000. This as some of them were going under.

    THUMAN: Yeah and not just a problem but possibly Sharyl a violation of federal law and the ObamaCare rules which prohibit excessive executive compensation. So a lot more to look into there.
    http://newsbusters.org/blogs/nb/jeff...#.vihttt1:QvKP

  • #7
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    Quote Originally Posted by utgrad97 View Post

    To date, nearly half of the 23 co-ops established under the Affordable Care Act have gone or are expected to go under by the end of the year.
    Link? How many have gone under compared to the expected to go under?
    Last edited by BaylorHistory; 11-03-2015 at 05:55 PM.

  • #8
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    Quote Originally Posted by TTomTerrific View Post
    saw this on the news the other night (on CBS of all places)...thought about coming here to post it, but my energy for this forum is waning.
    Atkisson's on her own now with a syndicated program that's been picked up by some CBS affiliates, but she's most def not part of CBS News.

  • #9
    Sharyl was kicked out of the journolist club for having an independent view and actually trying to do her job.

  • #10
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    Quote Originally Posted by Swam4Texas View Post
    Atkisson's on her own now with a syndicated program that's been picked up by some CBS affiliates, but she's most def not part of CBS News.
    yeah...that's why I noted that...I was surprised to see her back on CBS. Didn't know about her current arrangement. Good to see her back and more than a little surprised that they aired her piece. [/ heh-heh....I said "piece"]

  • #11
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    Every one of you who thought a triumvirate of a community organizer, Nancy Pelosi and Harry Reid would somehow deliver something that didn't suck should please consider killing yourself or never voting again. You're too stupid to function in society or ever be an asset.

  • #12
    Quote Originally Posted by BaylorHistory View Post
    Link? How many have gone under compared to the expected to go under?
    How many were expected to go under, is this a legitimate question?

  • #13
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    Unpossible. Somebody told me the exchanges were totally profitable.

  • #14
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    Quote Originally Posted by utgrad97 View Post
    How many were expected to go under, is this a legitimate question?
    Of course they weren't expected to go under. That would have sunk all the numbers we were fed......wait....

  • #15
    We had to pass it to see what dumb $#@!ery was in it...

  • #16
    Problem is the A A needs major fixing. Due to the unpopularity of ACA, the GOP controls Congress. The President is not about to enter a conversation with the GOP about fixing it. He doesn't work across the aisle- never has, never will.

  • #17
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    We should just make running out of cash illegal.

  • #18
    You could tax everything the rich have. It won't pay for our federal government's bull$#@!.

  • #19
    Link? How many have gone under compared to the expected to go under?
    You are looking at this wrong. We have 13 more coops than we had before Obamacare.

  • #20
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    This is what a free market looks like:



    And here's what a centrally planned market looks like:


  • #21
    [boygenius]had to do something, better than nothing[/iamsmarterthaneveryone]

  • #22
    The
    Quote Originally Posted by TheTexasHammer View Post
    This is what a free market looks like:



    And here's what a centrally planned market looks like:

    First pic was at one of my granddad's grocery stores. Just happened to be at one of his. Could have been any at American store. But that is when they knew their system was $#@!ed.

  • #23
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    capitalism. now with two time more rape.


  • #24
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    Quote Originally Posted by Pepper Brooks View Post
    Every one of you who thought a triumvirate of a community organizer, Nancy Pelosi and Harry Reid would somehow deliver something that didn't suck should please consider killing yourself or never voting again. You're too stupid to function in society or ever be an asset.
    You must spread some Reputation around before giving it to Pepper Brooks again

  • #25
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    Quote Originally Posted by Johnny Sack View Post
    The

    First pic was at one of my granddad's grocery stores. Just happened to be at one of his. Could have been any at American store. But that is when they knew their system was $#@!ed.
    Weingarten or Onstead? I'm old.

  • #26
    Onstead.

  • #27
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    Even when the top marginal rates were 90%, they effective rate was still around 50%, only 25% more than it is now. If even that.

  • #28
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    OP title, should be "kaput."

    "Caput" is Latin for "head."

    Or maybe you meant Obamacare is going full blow job or something. Which would make sense.

    Now, having said that, I'm wondering where I should put the latest article of Obamafail, which says that this year premium costs are rising an average of 28 percent, not 6-7 percent, as the White House "reported" (keyword for "lied about.")

    Man, you should see the creative math on how they came up with that number. Makes Jon Gruber look like a boy scout. Hint: it helps if you leave out three-$#@!ing-quarters of your total plan offerings, and only compute one quarter, the one which will give you the least expensive results. Then report that.

    Nixon's cronies have nothing on the hollow, evil carcasses that prop up this administration.

    It's okay though, Obamacare's popularity is going down again.

  • #29
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    Quote Originally Posted by Johnny Sack View Post
    You could tax everything the rich have. It won't pay for our federal government's bull$#@!.
    people have no idea. think about this. if you could confiscate the entire worth of bill gates and buffet, convert it to cash, and give it to the government you could PAY INTEREST ONLY on our debt for about 90 days(and this is at 1-2% interest rates). There is absolutely ZERO chance that taxation can make a difference on 20 trillion. the only way to fix this problem is to cut spending, and most of it will have to be cutting entitlements. they make up over 60% of all expenditures now first thing we should do to fix things is stop paying out own citizens to not work. just stop it. let them go take the jobs the illegals are doing. get the illegals out, put our own citizens back to work, expand the tax base, and massive spending cuts. no more entitlements to anyone who is not under the poverty line. sucks but that is where are.

  • #30
    Banned Marvin the Martian is probably perfectly normal.  Probably. Maybe. Who cares?
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    http://www.opensecrets.org/lobby/indusclient.php?id=h04

    Total for Pharmaceuticals/Health Products: $178,863,490
    Total Number of Clients Reported: 328
    Total Number of Lobbyists Reported: 1,320
    Total Number of Revolvers: 790 (59.8%)
    Revolvers thats a thing.

    What a cluster$#@!.

    BOTH dumbocrats and retardicans are to blame. ERADICATE CAREER POLITICIANS

    They are all actors, doing what the kriminal kabal tells them.

  • #31
    Apparently the failing of the health insurance exchange in Kentucky was a factor in Matt Bevin winning the Kentucky governorship. 500,000 Kentuckains were left without health insurance as a result. Not only do the Democrats lose another governorship but the GOP establishment in Kentucky went down since Bevin beat 2 candidates supported by the state GOP establishment.

  • #32
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    Quote Originally Posted by utgrad97 View Post
    How many were expected to go under, is this a legitimate question?
    Yes, I would like to know where they have gone under and where the expect to go under. I'm not sure how that is a partisan question. I've found a bunch of articles on their troubles, but I haven't seen a full list anywhere.
    Last edited by BaylorHistory; 11-04-2015 at 11:19 AM.

  • #33
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    Quote Originally Posted by phdhorn View Post
    OP title, should be "kaput."

    "Caput" is Latin for "head."

    Or maybe you meant Obamacare is going full blow job or something. Which would make sense.

    Now, having said that, I'm wondering where I should put the latest article of Obamafail, which says that this year premium costs are rising an average of 28 percent, not 6-7 percent, as the White House "reported" (keyword for "lied about.")

    Man, you should see the creative math on how they came up with that number. Makes Jon Gruber look like a boy scout. Hint: it helps if you leave out three-$#@!ing-quarters of your total plan offerings, and only compute one quarter, the one which will give you the least expensive results. Then report that.

    Nixon's cronies have nothing on the hollow, evil carcasses that prop up this administration.

    It's okay though, Obamacare's popularity is going down again.
    Steve Patterson and Obama use the same accountants?

  • #34
    Quote Originally Posted by BaylorHistory View Post
    Yes, I would like to know where they have gone under and where the expect to go under. I'm not sure how that is a partisan question. I've found a bunch of articles on their troubles, but I haven't seen a full list anywhere.
    The failing Obamacare co-ops have canceled health insurance for largely poor and low-income customers in Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado.

    Maybe this contributed, "including many launched by passionate but inexperienced health reform activists"

    Not to worry the real problems was $2.4B wasn't enough money, "Centers for Medicare and Medicaid Services Chief of Staff Mandy Cohen cited a shortage of funds as part of the problem as to why so many of the Obamacare co-ops, which received $2.4 billion in federal loans, largely failed during her Tuesday testimony before the Ways and Means Subcommittee on Health."

  • #35
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    Quote Originally Posted by TexasEd View Post
    Steve Patterson and Obama use the same accountants?
    Yeah, and one of them was fired. I won't give away which one.

    Still gonna post it somewhere today when I get the hankerin'.

  • #36
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    Quote Originally Posted by utgrad97 View Post
    The failing Obamacare co-ops have canceled health insurance for largely poor and low-income customers in Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado.

    Maybe this contributed, "including many launched by passionate but inexperienced health reform activists"

    Not to worry the real problems was $2.4B wasn't enough money, "Centers for Medicare and Medicaid Services Chief of Staff Mandy Cohen cited a shortage of funds as part of the problem as to why so many of the Obamacare co-ops, which received $2.4 billion in federal loans, largely failed during her Tuesday testimony before the Ways and Means Subcommittee on Health."
    oh but of course socialism failed, once again, because they didn't get enough of other people's money.

  • #37
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    http://www.breitbart.com/big-governm...amacare-co-op/

    “Governor Andrew Cuomo on Thursday night sought to share responsibility for a key New York health co-op with the federal government, hours after a Republican congressman and possible challenger blamed the governor for not being more engaged,” POLITICO reports.

    That Republican congressman is Rep. Chris Gibson (R-NY)42%
    , who says he’s “taking action to protect New Yorkers who are losing their health insurance.”

    After more than $265 million in start-up loans to Health Republic failed to keep New York’s lone Obamacare co-op from falling into bankruptcy, the Department of Health and Human Services and New York health officials blocked the non-profit insurer from selling policies on that state’s exchange and forbade the acceptance of new enrollees.

    Cuomo said he was working “hand in glove,” according to POLITICO, with the Obama Administration “to unwind Health Republic of New York and transition its more than 200,000 customers—20 percent of the individual market in the state—to a new carrier in the next nine days.”
    200k people lose their health insurance with 9 days notice. A HUGE story that the MSM will completely ignore.

  • #38
    So sad...Yankee aggy $#@!ing it all up

  • #39
    asshat Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament Shaggy Gold Club Parliament's Avatar
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    Quote Originally Posted by TheTexasHammer View Post
    http://www.breitbart.com/big-governm...amacare-co-op/



    200k people lose their health insurance with 9 days notice. A HUGE story that the MSM will completely ignore.
    The rats are eating eachother.

  • #40
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    Quote Originally Posted by Parliament View Post
    The rats are eating eachother.

  • #41
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    The good news is the MSM is focusing on racist attacks on Ben Carson.

  • #42
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    Quote Originally Posted by BaylorHistory View Post
    Yes, I would like to know where they have gone under and where the expect to go under. I'm not sure how that is a partisan question. I've found a bunch of articles on their troubles, but I haven't seen a full list anywhere.
    Well they didn't exist prior to ACA, so "none" would expect to go under if none existed.

    I would hope (haha) they were constructed in such a way that none would be expected to go under, since presumably actuaries were enlisted to determine how much cash on hand would be needed for X number of captive lives.

    I would like to know how much money these not for profits spent on executive pay, administrative costs, and donations to PACs and political campaigns

  • #43
    I would like to know how much money these not for profits spent on executive pay, administrative costs, and donations to PACs and political campaigns
    Well, that is one way insurance companies keep profits in check. They also pay well and employees have better expense accounts than other industries.

    Bankers do similar stuff. I have a couple that visit me every quarter from the Carolinas. They take a corporate plane. They talk to me for about 10min and then go on their way, usually to a different city in Texas. It seems to me like a complete waste of money.

  • #44
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    A retired friend of mine had a personal PPO plan with BCBS. They've informed him that they're cancelling all personal PPO plans at the end of the calendar year because they lost $400 Million on them last year alone.

  • #45
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    Quote Originally Posted by Johnny Sack View Post
    Onstead.
    Wait wait wait

    Randall is grandad?

  • #46
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    Quote Originally Posted by 244335 View Post
    A retired friend of mine had a personal PPO plan with BCBS. They've informed him that they're cancelling all personal PPO plans at the end of the calendar year because they lost $400 Million on them last year alone.
    BCBSTX, Humana, and others have all cancelled their individual retail PPO plans. This affects a lot of self-employed people in the state - business owners, CPAs, lawyers, etc.

    Example -- Texas Bar update:

    Many insureds in Texas are understandably concerned with the cancellation of individual plans with PPO networks. This is a statewide issue that is not unique to the Texas Bar Private Insurance Exchange. While there are PPO plans available (options vary regionally) and alternatives that are similar to a PPO, the Texas Bar Private Insurance Exchange is currently working on adding new plans with PPO networks in the coming weeks. Members should check back with the exchange between now and December 1 as more options are expected to become available by then.
    http://texasbar.memberbenefits.com/2...-ppo-networks/

    It's really amazing there is so little press coverage of the loss of PPO plans in Texas and elsewhere.

  • #47
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    Quote Originally Posted by MalibuSheriff View Post

    It's really amazing there is so little press coverage of the loss of PPO plans in Texas and elsewhere.
    No it isn't - the MSM don't want you to notice the lipstick wearing off that bloated pig.

  • #48
    Quote Originally Posted by DaysOff View Post
    Randall is grandad?
    That's Remarkable.

  • #49
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    Quote Originally Posted by DaysOff View Post
    Wait wait wait

    Randall is grandad?
    Not sure if there's a safe way to say this, but I guess the apple didn't fall far from the tree.

  • #50
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    Quote Originally Posted by Swam4Texas View Post
    Not sure if there's a safe way to say this, but I guess the apple didn't fall far from the tree.
    very well played there.

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