I try to keep up with the stocks and stuff and it seems like we did so bad this year then i saw the other day that we lost another contract in Fla and then the tax credits for our market place plans are going away. And then the medicaid cuts are gonna lose us more members. does it feel like maybe this company won't be around very long?
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@ey Right. Like there is political will to expand Medicare and Medicaid. Might want to check the actions of the Executive branch. It’s not a matter of if health care is going to completely crash, it’s when.
ACA needs to fail first. No subsidies. No bail outs. Modify care and caid as necessary to absorb that membership.
@cx Medicare is on its way out as well - it's only a matter of time. The elderly are practically forced into it. They can't afford it as it is with its ridiculous deductibles, etc, and making them purchase supplemental insurance on top of that because they didn't want to create a plan that covers all of seniors' healthcare. Taxpayers fund Medicare (and Medicaid), whether you choose to believe that or not - it's through taxes. - and where is that money coming from when you RIF the employed? You think that the government has a stash of money somewhere? Even Social Security is going to be gone - another thing taxpayers pay for, and then what? The job market is a complete disaster - thousands more people looking for work than there are jobs available. Sorry, but making it seem like all is ok is just short-sighted. The healthcare insurance industry and healthcare as a whole are going to implode.
@a7 I would disagree. It has “failed” in the sense that it has positioned itself poorly to accommodate the 2am mercurial impulses of this current administration. What’s that mean for you if you are an employee? Nothing good. Many will be Riffed out the door. The ones that remain will be overworked. In summary, the ACA (if it survives) will be vastly reduced with only high cost members remaining. Medicaid will survive, but erase many of the gains made under the expansion. Medicare is the golden goose (because seniors vote), but it’s only going to get more expensive. In short, healthcare in the US is under tremendous pressure and will be for the foreseeable future
@a7 Maybe-maybe not. The only way to save this company long-term is to cut wages at the VERY TOP; otherwise, they will keep cutting staff until they have a skeleton crew, and that will never be sustainable. Even if they outsource everything non-member-facing (which is the goal, obviously), in the long run, losses based on the constant errors being made by unnecessary failed projects & "vendors" will continue to end in high interest payments and eventually more lawsuits. Add to that (as of the moment) no extension on the ACA will result in a huge loss of members, which means less revenue from commercial, and loss of federal funding for Medicaid. THEN add to that if replaced with offshore "vendors' (whatever label you want to give them), they are not a significant contributor to the revenue - most don't get benefits from their contracting agency, or they live overseas. It will absolutely crash and burn if they don't stop being greedy - every beginning has an end, it's just a matter of time.
Profit? On low income health insurance? We outta be ashamed of ourselves. Not feeling too good about being part of this criminal enterprise.
Failing? No. Still making a profit so I can’t see how that’s failing. It’s a terrible economy (worst since 2008 in many respects) and a tough moment for this industry but the company is not in any kind of risk of collapse in the near future.