Did you know that before Obamacare the Insurance companies made $6 billion a year and after Obamacare $16 billion per year?

Sharing is Caring!

Senator Rand Paul on Fox News speaking on the firing of FBI director James Comey, The state of Healthcare, and his request for information on surveillance May 10 2017
Major Insurance Company Ditches Obamacare, Profits Skyrocket
UnitedHealthcare Group’s quarterly profit skyrocketed after the insurance provider drastically downsized its participation in the Obamacare exchanges.
The company’s profit rose by 35 percent in the first-quarter of 2017, and expanded nearly every aspect of its operation, including its participation in Medicare Advantage and Medicaid plans, The Associated Press reports. In total, UnitedHealth brought in $2.17 billion in first-quarter earnings, with $48.72 billion in revenue. Shares of UnitedHealth are up 1.08 percent as of 2:12 p.m. Tuesday afternoon.
UnitedHealth’s operating income also rose outside of its health insurance offerings. The company experienced a 16 percent bump in operating earnings from Optum, another facet of UnitedHealth. Optum provides it with pharmacy benefits management and technological capabilities, as well as a network of doctor and clinical offices.
Following what amounted to a $475 million loss from participating in the exchanges in 2015, UnitedHealth announced in April 2016, that it would back out of all but a “handful” in 2017. The group expected to lose as much as $800 million in 2016.
“The smaller overall market size and shorter term, higher-risk profile within this market segment continue to suggest we cannot broadly serve it on an effective and sustained basis,” UnitedHealthcare Group CEO Stephen Hemsley told reporters in 2016. “Next year, we will remain in only a handful of states, and we will not carry financial exposure from exchanges into 2017.”
UnitedHealth is not alone. Insurance providers Aetna and Humana are also leaving the exchanges.
Health insurance industry rakes in billions while blaming Obamacare for losses
Major insurance companies are enjoying record profits but claim they are losing money under the Affordable Care Act
Major health insurance company CEO says Obamacare is in a ‘death spiral’
h/t Jake

See also  Yields Plunge After Spectacular 30Y Auction, Lowest Dealer Takedown On Record (Yellen Fearmongering US Debt Default)
See also  Greenwald: Democratic Officials Continue to Threaten Tech Companies to Censor More

2 thoughts on “Did you know that before Obamacare the Insurance companies made $6 billion a year and after Obamacare $16 billion per year?

  1. So they are leaving solely to increase profits? I am not sure I understand this. How does a Company increase profits by 35% in 1st qtr 2017. After reporting they “expected to lose a much as $800 million in 2016”? So how much did they “lose” in 2016? You can’t have increase in profit, without a profit to increase? Right?
    Why should I or anyone be concerned about stock values, when Affordable Comprehensive Healthcare is the Value. I have no appreciation or empathy for these greedy CEO’s and Their Investors. Since when is making 10x then Your Highest paid Employees’ not enough? I mean it’s pretty sad that these People are making 100x what they pay their Employees’. Basically, I can’t really care much about profits for UnitedHealthcare CEO’s et al. Why should I?

Leave a Reply to collette.robert@yahoo.com Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.