Our Services are at
Up to 50% off of Workers Compensation
BOSC is 'Your' Un-biased Trusted Advisor
State Unemployment Rates as low as 1.50%
Home of the "PEO Hybrid" Solution
Business Outsourcing Solutions and Consulting

Third Largest Insurance Company May Abandon Obamacare Over Failure To Enroll New Accounts

In an interview on CNBC today, the CEO of Aetna said that they may be forced to leave Obamacare if not enough new enrollments are captured by the program. Currently these are estimated at 11%.

Aetna CEO Mark Bertolini told CNBC on Wednesday that Obamacare has failed to attract the uninsured, and he offered a scenario in which the insurance company could be forced to pull out of program.

The company will be submitting Obamacare rates for 2015 on May 15.

"Are they going to be double-digit [increases] or are we going to get beat up because they're double-digit or are we just going to have to pull out of the program? …Those questions can't be answered until we see the population we have today. And we really don't have a good view on that."

Basically, the Obamacare "death spiral" everyone is talking about is rearing its ugly head again. Without new enrollments that are expected to be younger and healthier insurance customers, the expense to cover all the sicker and older insured won't be covered by the program.

He said that so far, Obamacare has just shifted people who were insured in the individual market to the public exchanges where they could get a better deal on a subsidy for coverage. "We see only 11 percent of the population is actually people that were firmly uninsured that are now insured. So [it] didn't really eat into the uninsured population."

Even more so, he admits that they have no clue what the composition is of the population so far insured through Obamacare. Why don't they know who has signed up? Is this a problem across the board for all insurers, and if so, aren't they talking about it?

These are questions that could spell doom for Obamacare, despite the assurances by the administration and its news media accomplices that everything is perfectly fine.


Home             Services             What is PEO?             Testimonials             About Us             Contact Us             Blog

© Copyright 2018 BOSC, Inc 210 N. Park Avenue, Sanford, FL 32771

BOSC Provides Business Outsourcing Solutions & Consulting to Businesses in: Orlando, Tampa, Jacksonville and all of Florida