Insurance Companies Will Receive $5.5 Billion in Bailouts in 2015

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Health insurers such as WellPoint Inc. (WLP) and Humana Inc. (HUM) stand to gain $5.5 billion next year to cover losses from Obamacare in a program the law
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Privatized profits, socialized losses - The American dream
 
feedmelies said:
How absurd is this going to get?
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Has not yet even begun to get absurd. Love that the President is on TV apologizing for the broken VA system, yet Liberals think that putting the entire country under government health care is a good idea.
 
Nebi said:
Privatized profits, socialized losses - The American dream
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Not just eh American dream.

Its capitalism in the western world, and its a shame too many right of centre people do not get it.
 
SammyPops said:
Not just eh American dream.

Its capitalism in the western world, and its a shame too many right of centre people do not get it.
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I agree with you but 'The American dream' is a symbol.
 
Under the Patient Protection and Affordable Care Act, insurers who record a profit of 3 percent or more on their Obamacare business would put some of the gains into a government-controlled fund. Companies whose claims cost at least 3 percent more than their premium revenue can access the money.
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I'm not really seeing the problem.

Insurers can't turn people away. Some of them get lucky and get more profitable enrolees. Some of them get unlucky. This balances the scales so that the unlucky ones don't go out of business.

Guess some people would rather the companies go out of business so they can gloat about the horrific failure of the ACA.
 
Fuck insurance companies.
 
So I guess "bailout" is the new "terrorism," in that it is used inappropriately to describe anything that you want to make unpopular. Orwell is turning over in his grave.

ChainFlow said:
I'm not really seeing the problem.

Insurers can't turn people away. Some of them get lucky and get more profitable enrolees. Some of them get unlucky. This balances the scales so that the unlucky ones don't go out of business.

Guess some people would rather the companies go out of business so they can gloat about the horrific failure of the ACA.
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Yeah, I'd bet that no one else who has posted in this thread even knows what the program is. They just see "bailout" and think, "fuck those guys!" "Bailout" has a meaning. This is not a bailout.

I don't really blame the GOP for this kind of idiocy. Their propagandists have a job to do. But holy moly, why does anyone buy this stuff?
 
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ChainFlow said:
I'm not really seeing the problem.

Insurers can't turn people away. Some of them get lucky and get more profitable enrolees. Some of them get unlucky. This balances the scales so that the unlucky ones don't go out of business.

Guess some people would rather the companies go out of business so they can gloat about the horrific failure of the ACA.
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1. I think part of the problem is that we were told Obamacare would decrease health expenditures. Now health insurance premiums are rising drastically and insurers still cannot break even.

2. It was the opponents of Obamacare who warned that it would drive insurance companies out of business. Now for pointing out that it is pushing insurance companies deeply into the red and transforming formerly profitable ventures into government dependents they are somehow hoping insurance companies fail?

3. Luck does not exist. Insurance companies are losing money because the law is badly written.
 
Jack V Savage said:
So I guess "bailout" is the new "terrorism," in that it is used inappropriately to describe any program that you want to make unpopular. Orwell is turning over in his grave.



Yeah, I'd bet that no one else who has posted in this thread even knows what the program is. They just see "bailout" and think, "fuck those guys!" "Bailout" has a meaning. This is not a bailout.

I don't really blame the GOP for this kind of idiocy. Their propagandists have a job to do. But holy moly, why does anyone buy this stuff?
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Because they're massive corporate algorithms designed to make money. They don't sell a tangible product they just sell fear and they make billions off it.

It's not like they're a car industry where a bailout is not only going to help the manufacturer but all the people who make parts, services etc and have a follow on affect that is greater than the input.

It's just going into companies that sell nothing.

Maybe I'm biased because my opinion of insurance agencies is that this part of the movie is completely non-fictional.
 
Cid said:
Because they're massive corporate algorithms designed to make money. They don't sell a tangible product they just sell fear and they make billions off it.

It's not like they're a car industry where a bailout is not only going to help the manufacturer but all the people who make parts, services etc and have a follow on affect that is greater than the input.

It's just going into companies that sell nothing.
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But again, the auto industry was actually bailed out. This is not a bailout. This is just basically hedging.
 
lfd0311 said:
Has not yet even begun to get absurd. Love that the President is on TV apologizing for the broken VA system, yet Liberals think that putting the entire country under government health care is a good idea.
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Crushing social commentary.

Absolutely soul crushing.

:icon_sad:
 
SleepyBoy said:
sounds like more free money to the insurance companies. WellPoint made ~4billion more in 2013 then they did in 2012.

Insurance companies are not only enjoying ripping off customers who are forced to buy something they don't want, they also get free money for the FEDS for making more money than ever. How fortunate.

67 billion in 2012
http://en.wikipedia.org/wiki/WellPoint

71billion in 2013
http://www.wellpoint.com/prodcontri...news_main/documents/wlp_assets/pw_d014892.pdf
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Brutal.

It's hard to lose money when people are forced to buy your product and the government backstops your losses, I guess. :icon_conf
 
Would the people complaining about this be okay with single payer?
 
Jack V Savage said:
But again, the auto industry was actually bailed out. This is not a bailout. This is just basically hedging.
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Wouldn't that make even less sense then?

Rather than giving them money when they might actually need it to save the industry they're giving it out when they're still turning large profits.
 
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