Tag: Nation

Nation’s Largest Health Insurer Will No Longer Participate In Several Obamacare Exchanges Following $1B In Losses

Obamacare Meltdown: Health Insurers Suffer Massive Losses – WorldNetDaily

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The nation’s largest health insurer, UnitedHealth, announced Tuesday it has lost at least $1 billion under Obamacare’s insurance exchanges, and it can no longer afford to participate in a number of states, including Arkansas, Georgia and Michigan.

UnitedHealth is just one of the many health-insurance companies sounding the alarm that they will have to drastically hike premiums in the coming year or consider exiting the individual health-care marketplace in the wake of massive losses sustained over the first couple of years under the rules of President Obama’s signature health-care law.

A report in the Hill newspaper quotes Aetna CEO Mark Bertolini as well as multiple policy experts concluding the current track is unsustainable for the private sector insurance. Furthermore, a report from McKinsey & Company shows insurers lost money in the individual market in 41 of 50 states in 2014.

Galen Institute President Grace-Marie Turner told WND and Radio America she hears the very same thing from health insurance providers.

“I have talked with insurance company CEOs. I’ve talked with people in professional associations,” Turner said. “They’re very worried because they were virtually assured by the Obama administration that the market would have stabilized by now.”

She said this is not only a distress call to policy makers but a warning to consumers that much higher premiums are on the horizon.

“These reports and these announcements and these news stories are really warnings from the insurance industry, ‘Get ready because our premiums are going to have to be much higher if we’re going to continue to participate in the market. And if you tell us that you’re not going to approve those premium increases, we will drop out,’” Turner said.

Turner said insurance companies bought the Obama promise “that there would be enough young, healthy people in the markets to be able to offset the sicker, older people.” But something happened on the way to huge profits guaranteed through the individual mandate.

“The escape hatches [the health-care law] created, the weakness of the individual mandate has meant that they wind up with many more people who are sicker and using many more health care services than anticipated, and the premiums were not set to adjust to that,” Turner explained.

She said the bad financial ideas underpinning the law are being exposed.

“They also thought they were going to get this other money through a lot of risk corridor reinsurance payments as well as the tax credits that people get to purchase premiums,” she said. “So they thought all of those were going to make this a stable market. It’s only a stable market in the sense that the government is propping it up artificially with all these other funds and it’s not enough.”

“The escape hatches [the health-care law] created, the weakness of the individual mandate has meant that they wind up with many more people who are sicker and using many more health care services than anticipated, and the premiums were not set to adjust to that,” Turner explained.

She said the bad financial ideas underpinning the law are being exposed.

“They also thought they were going to get this other money through a lot of risk corridor reinsurance payments as well as the tax credits that people get to purchase premiums,” she said. “So they thought all of those were going to make this a stable market. It’s only a stable market in the sense that the government is propping it up artificially with all these other funds and it’s not enough.”

Turner said insurance companies are also getting crushed by people gaming the system. She said people sign up for coverage, get a lot of expensive health care right away and then cancel their coverage, only to sign up at the same government-guaranteed rate in the next open enrollment period.

She said this whole sea of red ink exposes the fundamental flaws with the law.

“It’s not a sustainable market,” Turner said. “You cannot have government dictating how a market works. Only the market can do that and we’re seeing the failure of government-controlled health care.”

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The insurance industry is likely to elicit few tears from opponents of the Obama health-care law as conservative activists implored companies not to get on board the Obama bandwagon. The industry didn’t listen, but Turner said watching them leave the marketplace is not an option, either.

“We need the private health insurance companies to continue to participate and to offer insurance if we are going to have a private market,” she said. “You don’t want them to fail.”

Turner is hopeful that the issue will get a lot of attention in the 2016 election season. She is confident that despite the rhetoric of some Democratic Party candidates, the American people do not want government-run health care.

“The support for single payer among the American people is as low now as it has ever been in decades,” said Turner, who advocates health competition in the private sector regulated by the states.

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House Judiciary Committee Unveils Four Bills To Strengthen Interior Enforcement Of U.S. Immigration Laws (Videos)

Strengthening The Interior Enforcement Of Our Nation’s Immigration Laws – House Judiciary Committee

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House Judiciary Committee Chairman Bob Goodlatte, Immigration and Border Security Subcommittee Chairman Trey Gowdy, Congressman Lamar Smith, Congressman Jason Chaffetz, and Congressman John Carter have unveiled four pieces of legislation to strengthen the interior enforcement of our immigration laws, remove the ability of the President to unilaterally shut down immigration enforcement, ensure jobs are preserved for legal workers, reform the United States’ asylum laws, and make sure unaccompanied alien minors who make the dangerous trek to the United States are safely returned home.

THE “LEGAL WORKFORCE ACT”

Science, Space, and Technology Chairman Lamar Smith (R-Texas), the former chairman of the House Judiciary Committee, introduced the Legal Workforce Act to ensure jobs are preserved for Americans and legal workers. This bill requires all U.S. employers to use E-Verify, a web-based system that checks the Social Security numbers of newly hired employees against Social Security Administration and Department of Homeland Security records to help ensure that they are genuinely eligible to work in the U.S.

Bill Summary

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THE “PROTECTION OF CHILDREN ACT OF 2015”

Chairman of the Homeland Security Appropriations Subcommittee John Carter (R-Texas) is the author of the Protection of Children Act to ensure unaccompanied alien minors who make the dangerous journey to the United States are safely returned home. For those who stay with a sponsor in the United States while awaiting their immigration hearing, the bill provides for greater transparency and safety of these minors to ensure they are not inadvertently delivered into the hands of criminals or abusers.

Bill Summary

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THE “ASYLUM REFORM AND BORDER PROTECTION ACT OF 2015”

Oversight and Government Reform Committee Chairman Jason Chaffetz (R-Utah), a member of the House Judiciary Committee, is author of the Asylum Reform and Border Protection Act. This bill closes loopholes in current law that encourage illegal immigration, such as weak standards for asylum claims that enable the Obama Administration’s rubberstamping of fraudulent applications and policies, and effectively ends “catch and release.”

Bill Summary

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THE “MICHAEL DAVIS, JR. IN HONOR OF STATE AND LOCAL LAW ENFORCEMENT ACT”

The Michael Davis, Jr. in Honor of State and Local Law Enforcement Act is authored by Immigration and Border Security Subcommittee Chairman Trey Gowdy (R-S.C.). This legislation ensures that the President of the United States can’t shut down immigration enforcement unilaterally by granting states and localities specific congressional authorization to assist in the enforcement of federal immigration law. It also strengthens national security and protects American communities by improving visa security, facilitating the removal of dangerous criminal aliens, and barring terrorists from entering and remaining in the United States.

Bill Summary

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*VIDEO* Mark Levin: Who Has Done More Damage To This Nation, Edward Snowden Or Barack Obama?


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