ObamaCare Death Spiral Continues as Anthem to Leave Exchanges in Several States – New American
Written by Raven Clabough
Yet another health insurance company has announced that it will be leaving the ObamaCare exchanges in two states, citing market uncertainty. This is just the latest announcement in a trend that experts claim will ultimately result in the national collapse of ObamaCare.
Anthem Blue Cross and Blue Shield announced that it will be leaving the ObamaCare exchanges in Wisconsin and Indiana, stating that the “volatile” market under ObamaCare is “shrinking” and that the “continual changes and uncertainty in federal operations, rules and guidance, including cost sharing reduction subsidies and the restoration of taxes on fully insured coverage” has created too much uncertainty.
Anthem, like numerous other insurance companies, has indicated it is struggling, largely because not enough young, healthy individuals have signed up for plans to balance the costs of the older, sicker enrollees, the Washington Examiner reports.
“A stable insurance market is dependent on products that create value for consumers through the broad spreading of risk and a known set of conditions upon which rates can be developed,” the company said in a statement. “Today, planning and pricing for ACA-compliant health plans has become increasingly difficult due to a shrinking and deteriorating individual market, as well as continual changes and uncertainty in federal operations, rules and guidance, including cost sharing reduction subsidies and the restoration of taxes on fully insured coverage.”
Those who have signed up for Anthem in these states through the ObamaCare exchange will therefore lose their insurance by the end of 2017.
Earlier this month, Anthem also announced it would be exiting the exchange in Ohio as well, provoking a scathing statement from Ohio’s Insurance Department against the healthcare law.
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