For those that don’t get it, the people that foisted the Obamacare monstrosity on us see this as a feature, not a problem:
When Aetna Inc. announced that it would withdraw from three-quarters of the states where it offers Affordable Care Act exchange plans, the move wasn’t entirely unexpected: The company had signaled its woes early this month.
But the decision by one of the nation’s largest health insurers AET, -0.20% to withdraw from 11 of 15 state exchanges follows similar moves by UnitedHealth Group Inc. UNH, -0.38%, the largest U.S. health insurer, and Humana Inc. HUM, +0.00% , another large health insurer.
The string of bad news marks a tidal shift for the ACA. Where insurers, including Aetna, had once planned on exchange expansions next year, many are instead curtailing their coverage.
Aetna’s pared-down 2017 exchange participation “raises further questions about the long-term viability of the ACA marketplaces,” said Susquehanna analyst Chris Rigg.
Aetna explained the decision as a way to “limit our financial exposure moving forward,” after pretax losses of $200 million in the second quarter and losses totaling $430 million on individual products since January 2014. The company did not specify what portion of the losses was attributable to individual public plan offerings.
The company criticized the ACA’s “inadequate” risk-adjustment mechanism, which is meant to limit insurers’ losses as they start covering sicker individuals. It’s a common criticism from health insurers, which have long said that the risk-pool program isn’t working the way it’s supposed to, though others say big insurance companies should instead change their model to keep costs down.
You know what? Even though I have investments in Aetna funds, I can’t say I feel sorry for them. They were stupid enough to buy the lies the crooked democrats told them, and this is on them. There is no way to make a system that allows people to not join and pay until they have a serious condition – and the penalty never comes to the level of pain one faces buying this shit because of the over regulation of this product – work financially. Why the fuck would someone young not opt for the penalty and only sign up whenever the shit hits the fan later in life, huh? And Aetna should have remembered this, but they bought the nonsense and figured they would somehow make it work. Idiot the lot of them.
Anyway, the fact of the matter is that all this hand wringing, now that Obamacare is doing exactly what those of us had pointed out it was designed to do when we saw it being put together, is bullshit. Obamacare was designed from the start to destroy the American healthcare system. All that talk about cost reduction or containment, helping people out, and especially making things better while allowing those of us that were happy to keep what we had, was just that: talk. The plan the left has been running with is single payer healthcare controlled by an all powerful government from the start, and this monstrosity was put together to facilitate that while fucking over the people that would otherwise never accept the single payer idea until the system had fallen apart.