Another Health Insurance carrier is feeling the pain of ACA (Obamacare)

Well one of the stars and big winners of ACA (Obamacare) was

at one time Molina Healthcare Inc..   Well, NOT ANY MORE.

Molina announced is cutting costs, shrinking its headcount and exiting

some Obamacare markets after a steep second-quarter loss, three months after pushing

out the brothers who’d led the firm their father founded.

The company said it’s eliminating about 1,500 jobs as part of a restructuring plan that

it hopes will save $300 million to $400 million by late next year. Molina also withdrew

its 2017 earnings outlook. The company also said that it will exit money-losing ACA

markets in UT and WI for next year and increase rates sharply elsewhere.

Read more in article by Zachary Tracer

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2018 Open Enrollment dates for ACA & More From CMS

CMS has released the latest changes to ACA (Obamacare) for 2018 with a press release.

The open enrollment period for obtaining coverage for individual coverage will be November 1, 2017 through December 15, 2017 for plans starting January 1, 2018.  This is the same open enrollment as Medicare markets for those over 65.

You can read the full CMS press release here

CMS makes several policy changes to improve the market and promote stability, including:

  • 2018 Annual Open Enrollment Period: The final rule adjusts the annual open enrollment period for 2018 to more closely align with Medicare and the private market. The next open enrollment period will start on November 1, 2017, and run through December 15, 2017, encouraging individuals to enroll in coverage prior to the beginning of the year.
  • Reduce Fraud, Waste, and Abuse:  The final rule promotes program integrity by requiring individuals to submit supporting documentation for special enrollment periods and ensures that only those who are eligible are able to enroll. It will encourage individuals to stay enrolled in coverage all year, reducing gaps in coverage and resulting in fewer individual mandate penalties and help to lower premiums.
  • Promote Continuous Coverage: The final rule promotes personal responsibility by allowing issuers to require individuals to pay back past due premiums before enrolling into a plan with the same issuer the following year. This is intended to address gaming and encourage individuals to maintain continuous coverage throughout the year, which will have a positive impact on the risk pool.
  • Ensure More Choices for Consumers:  For the 2018 plan year and beyond, the final rule allows issuers additional actuarial value flexibility to develop more choices with lower premium options for consumers, and to continue offering existing plans.
  • Empower States & Reduce Duplication:  The final rule reduces waste of taxpayer dollars by eliminating duplicative review of network adequacy by the federal government.  The rule returns oversight of network adequacy to states that are best positioned to evaluate network adequacy.

The press release included recent data for 2017 open enrollment

*Recent statistics related to the Affordable Care Act:

  • Approximately one-third of counties in the U.S. have only one insurer participating in their exchange for 2017.
  • Five states have only one insurer participating in their exchange for 2017.
  • The premium for the benchmark second-lowest cost “silver plan” on increased by an average of 25 percent from 2016-2017.
  • Approximately 500,000 fewer Americans selected a plan in the exchange open enrollment in 2017 than in 2016.
  • Many states saw double digit increases in their insurance premiums including:
    • AZ – 116%
    • OK – 69%
    • TN – 63%
    • AL – 58%
    • PA – 53%

You can read the final rule here


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The real results of OBAMACARE

I have lived through Obamacare as a licensed Insurance Counselor in Texas.  I recently received this call from one of my poor clients who is now being told her Grandfathered PPO plan is being cancelled in 2017.  If you think Obamacare is such a great thing you might want to listen to this real life unintended consequence.  You also might want to see a doctor too.  Hopefully you have some great employer based plan because you will have trouble if you do not get your health insurance through your job.

If the ACA (Obamacare) was cancelled tomorrow I suggest to you MORE lives would be saved than lost.  This law is an unmitigated disaster due to increased premiums, wasted tax dollars, and lack of quality healthcare choices outside an HMO.

I live it everyday and I am not some uneducated health insurance salesman.  I know what I am talking about.  To learn about one of the best solutions to ACA and to opt out of OBAMACARE forever I invite you to

I can also discuss other options as well.


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