Home Forums Hunting & Shooting Hunter's Campfire Congratulations Nebraska on the loss of 9 insurance companies

You can all say thanks to ObamaScare for the loss:

http://www.foxnews.com/politics/201...ealth-insurance-market/?intcmp=obnetwork

Nine insurance companies are pulling out of Nebraska's major medical insurance market, and some of them cite Obamacare as the reason for their departure.




Seven of the nine companies have notified the state of their plans to leave since August. Most of them have a minor piece of the major medical market in Nebraska, and likely don't think it's worth it to make the changes necessary to comply with the federal health care law.

As Obamacare shifts into a higher gear, all Americans must buy health insurance or pay a fine beginning in January. Insurance companies selling individual plans can no longer sell cheaper, bare-bones plans, must offer an array of benefits and cannot deny people coverage because they're sick or old.

Aetna, American Family Mutual Insurance, Humana, Independence American Insurance Company, Reserve National Insurance Company, Standard Security Life Insurance Company of New York, Companion Life Insurance and United Security Life and Health Insurance have all informed the state insurance department of their intent to stop selling health insurance to individuals - and in some cases - groups.

Under Nebraska law, insurers are required to notify policyholders in writing of any such changes.

State Insurance Commissioner Bruce Ramge was most recently informed of a departure Thursday morning, when he received a letter from Companion Life saying they'll leave the market at year's end, noting that increased regulations under Obamacare would make it difficult to continue. Ramge said the new landscape under Obamacare is the major driving factor in the companies' pullout, largely because of the administrative and policy changes they'd have to make

damn, never saw that coming

That's part of the master plan
Eventually there will be no private insurance

The only reason we have osamascare is Ben Nelson (D-Neb.) was the last Dem. holdout to get the majority vote...and I thought he negotiated Neb. a waiver from this fiasco in exchange for his vote?

I'm curious.. what makes Nebraska different than the other 49 states? Too many people with pre-existing conditions?

Yep. What a surprise.

My thoughts exactly. Why pull out of Nebraska? What's different?

Insurance companies are parasites that feed off of scaring people into buying the illusion of safety while delivering as little as they possibly can. They produce little but fear, anger and profit.

Well, it does get a bit pricey when you get sick and go to the hospital without any insurance backup.

Insurance is based on paying out less than what comes in. I've put tens of thousands of dollars in to insurance companies and got almost nothing out.

What do you call something you put more in to than you get out?
A loser...

Insurance, at its' core, is "gambling". The first rule of gambling is "the house always wins". If the house, at the end of the day, does not take in more money than it pays out, the house goes bankrupt.

As for those "greedy insurance companies", Obamacare effectively limits the percent profit they can make.

Here's a clue, 40O, it's a hell of a lot less than the profit GM makes on a truck or Apple makes on an iPhone. It's also a lot less than the administration fees it will ultimately take to administer a bloated bureaucracy overseen by the efficient organization we all know as the IRS.....

I'm curious how you think insurance should work?

Yea, not that they force you to buy it, like our .gov.

Yea, parasitic, not like benevolent government.

Yea, parasites, like the greedy oil companies, and doctors, and coal industry,and banks, and auto companies, and savings and loan, and home builders, and pharmaceutical companies which have doubled the average life span of folks in the US in the last century. None are near as wonderful as good ole .gov.

Insurance was designed for catastrophic medical problems and was originally much cheaper.

.gov is the culprit in forcing them to cover everything under the sun to make suckers like you Dimocraps call for .gov to be your mommy.

Lets take a look at those "terrible profits" of the insurance companies.

In 2012, United Health took in 110 Billion in revenue.
It's net income was 5.5 Billion. So, in 2012, it had a 5% net profit margin. Considering the 10 year treasury is yielding 2.6%, this margin in only 2.4% above a treasury yield.

These are not huge, obscene profits. These margins are actually very thin which is why when you have small population states like Nebraska (think small sample size in statistics), the small population increases the companies risks, and they have to leave.

Those scurvy Bastids would be making more if they were as efficient as .gov. though.

Why is it that making profit is a bad thing. That is the whole point of being in business

Not for the dmocrap companies zero puts our money in.

I think 400 lbs of BS has hit the trail.

What a bunch of horsesh*t.

Like anything in America Insurance companies can't operate unless they make a profit.

I gladly pay my car insurance knowing that if I have a multi car accident I won't lose my home to one of Obama's sons (who will probably be uninsured anyway.)

.gov doesn't .