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Losses from Obamacare, other business force Blue Shield to take a week off in September
Topic Started: Aug 17 2016, 10:08 PM (302 Views)
Berton
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Losses from Obamacare, other business force Blue Shield to take a week off in September

Blue Shield of California is shutting down for the four days after Labor Day to reduce its payroll-related liabilities, citing losses in California's Covered California Obamacare exchange and other commercial and individual lines of business.

The move will affect most of its 6,000 employees in California, except about 1,000 who work for Care1st, which it acquired last fall for $1.2 billion, and some staffers in customer service and related areas who will remain on the job. The exact number of workers involved hasn't yet been tabulated, according to the San Francisco-based insurer.

"This is certainly not normal for us," said spokesman Steve Shivinsky. "We're definitely seeing some income challenges as of mid-year," with claims in the individual and other markets "greatly exceeding the revenue we're taking in."

The move could save Blue Shield an estimated $4 million, by reducing its liabilities for paid time off.
Staffers are being required to use paid-time-off from September 6 to 9, Shivinsky confirmed. He said health plans nationally are facing challenges in the individual market and on the Obamacare exchanges, and some have said they plan to exit or cut back their participation, but Blue Shield isn't taking that step.

UnitedHealth Group (NYSE: UNH) said last month it planned to exit most Obamacare markets. Aetna (NYSE: AET) said it's reconsidering its presence in individual Affordable Care Act markets in 15 states, and Humana (NYSE: HUM) is pulling back as well.

Paid time off is a liability on the nonprofit health plan's books, and it wants to reduce that before year-end. Because open enrollment consumes the last few months of each calendar year, Blue Shield decided to ask employees to take extra time off in September, not later in the year, Shivinsky said.

Some customer service representatives and staffers who work in open-enrollment, information technology and medical services will still be expected to be on the job during that period.

Last month, Blue Shield said it was raising its Covered California rates by nearly 20 percent next year, citing the high costs of covering enrollees. It said it drastically underpriced premiums for the state's Obamacare exchange.

And in late February, the San Francisco insurer said it planned to cut about 460 jobs, most of them in Sacramento and the Central Valley. The actual number of jobs eliminated was close to 400, Shivinsky said late Thursday afternoon.

LINK


Obamacare was originally sold to the public as a way to cover the uninsured while cutting insurance premiums for other consumers. Instead, it has left millions uninsured, while millions more have lost their individual policies, and many others have seen their premium costs rise. In other words, Obamacare was a lie.




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Stoned
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Berton
Aug 17 2016, 10:08 PM
Losses from Obamacare, other business force Blue Shield to take a week off in September

Blue Shield of California is shutting down for the four days after Labor Day to reduce its payroll-related liabilities, citing losses in California's Covered California Obamacare exchange and other commercial and individual lines of business.

The move will affect most of its 6,000 employees in California, except about 1,000 who work for Care1st, which it acquired last fall for $1.2 billion, and some staffers in customer service and related areas who will remain on the job. The exact number of workers involved hasn't yet been tabulated, according to the San Francisco-based insurer.

"This is certainly not normal for us," said spokesman Steve Shivinsky. "We're definitely seeing some income challenges as of mid-year," with claims in the individual and other markets "greatly exceeding the revenue we're taking in."

The move could save Blue Shield an estimated $4 million, by reducing its liabilities for paid time off.
Staffers are being required to use paid-time-off from September 6 to 9, Shivinsky confirmed. He said health plans nationally are facing challenges in the individual market and on the Obamacare exchanges, and some have said they plan to exit or cut back their participation, but Blue Shield isn't taking that step.

UnitedHealth Group (NYSE: UNH) said last month it planned to exit most Obamacare markets. Aetna (NYSE: AET) said it's reconsidering its presence in individual Affordable Care Act markets in 15 states, and Humana (NYSE: HUM) is pulling back as well.

Paid time off is a liability on the nonprofit health plan's books, and it wants to reduce that before year-end. Because open enrollment consumes the last few months of each calendar year, Blue Shield decided to ask employees to take extra time off in September, not later in the year, Shivinsky said.

Some customer service representatives and staffers who work in open-enrollment, information technology and medical services will still be expected to be on the job during that period.

Last month, Blue Shield said it was raising its Covered California rates by nearly 20 percent next year, citing the high costs of covering enrollees. It said it drastically underpriced premiums for the state's Obamacare exchange.

And in late February, the San Francisco insurer said it planned to cut about 460 jobs, most of them in Sacramento and the Central Valley. The actual number of jobs eliminated was close to 400, Shivinsky said late Thursday afternoon.

LINK


Obamacare was originally sold to the public as a way to cover the uninsured while cutting insurance premiums for other consumers. Instead, it has left millions uninsured, while millions more have lost their individual policies, and many others have seen their premium costs rise. In other words, Obamacare was a lie.




Except for the 22 million previously. uninsured that now have insurance. The GOP alternative is?
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The GOP won't do it in the middle of the night half cocked.
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Quote:
 
Except for the 22 million previously uninsured that now have insurance. The GOP alternative is?

The world's overpopulated anyway...
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Aug 18 2016, 05:17 AM
The GOP won't do it in the middle of the night half cocked.
Six years and the haven't come up with one thing other than the same old same old stuff that never worked.

Oh well when they are voted out of office they will have much more free time to devote to the project.

When has the GOP been "fully cocked"? Crocked I can see. Cocked? Not so much. Unless they are using it as a biological term.
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Ignoring the obvious is your specialty Stoner.This years increases will bring disaster for many families.
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Stoned
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Boo hoo.

http://www.usatoday.com/story/money/2015/11/19/unitedhealth-group-earnings-downgrade-obamacare-affordable-care-act/76040322/

http://www.latimes.com/business/hiltzik/la-fi-hiltzik-aetna-obamacare-20160817-snap-story.html
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Berton
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Stoned
Aug 18 2016, 05:13 AM
Berton
Aug 17 2016, 10:08 PM
Losses from Obamacare, other business force Blue Shield to take a week off in September

Blue Shield of California is shutting down for the four days after Labor Day to reduce its payroll-related liabilities, citing losses in California's Covered California Obamacare exchange and other commercial and individual lines of business.

The move will affect most of its 6,000 employees in California, except about 1,000 who work for Care1st, which it acquired last fall for $1.2 billion, and some staffers in customer service and related areas who will remain on the job. The exact number of workers involved hasn't yet been tabulated, according to the San Francisco-based insurer.

"This is certainly not normal for us," said spokesman Steve Shivinsky. "We're definitely seeing some income challenges as of mid-year," with claims in the individual and other markets "greatly exceeding the revenue we're taking in."

The move could save Blue Shield an estimated $4 million, by reducing its liabilities for paid time off.
Staffers are being required to use paid-time-off from September 6 to 9, Shivinsky confirmed. He said health plans nationally are facing challenges in the individual market and on the Obamacare exchanges, and some have said they plan to exit or cut back their participation, but Blue Shield isn't taking that step.

UnitedHealth Group (NYSE: UNH) said last month it planned to exit most Obamacare markets. Aetna (NYSE: AET) said it's reconsidering its presence in individual Affordable Care Act markets in 15 states, and Humana (NYSE: HUM) is pulling back as well.

Paid time off is a liability on the nonprofit health plan's books, and it wants to reduce that before year-end. Because open enrollment consumes the last few months of each calendar year, Blue Shield decided to ask employees to take extra time off in September, not later in the year, Shivinsky said.

Some customer service representatives and staffers who work in open-enrollment, information technology and medical services will still be expected to be on the job during that period.

Last month, Blue Shield said it was raising its Covered California rates by nearly 20 percent next year, citing the high costs of covering enrollees. It said it drastically underpriced premiums for the state's Obamacare exchange.

And in late February, the San Francisco insurer said it planned to cut about 460 jobs, most of them in Sacramento and the Central Valley. The actual number of jobs eliminated was close to 400, Shivinsky said late Thursday afternoon.

LINK


Obamacare was originally sold to the public as a way to cover the uninsured while cutting insurance premiums for other consumers. Instead, it has left millions uninsured, while millions more have lost their individual policies, and many others have seen their premium costs rise. In other words, Obamacare was a lie.




Except for the 22 million previously. uninsured that now have insurance. The GOP alternative is?

Except only 11 million enrolled. The young did not enroll which is why Obamacare is failing.

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As some of us said the young would not do.
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Stoned
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Berton
Aug 18 2016, 06:35 AM
Stoned
Aug 18 2016, 05:13 AM
Berton
Aug 17 2016, 10:08 PM
Losses from Obamacare, other business force Blue Shield to take a week off in September

Blue Shield of California is shutting down for the four days after Labor Day to reduce its payroll-related liabilities, citing losses in California's Covered California Obamacare exchange and other commercial and individual lines of business.

The move will affect most of its 6,000 employees in California, except about 1,000 who work for Care1st, which it acquired last fall for $1.2 billion, and some staffers in customer service and related areas who will remain on the job. The exact number of workers involved hasn't yet been tabulated, according to the San Francisco-based insurer.

"This is certainly not normal for us," said spokesman Steve Shivinsky. "We're definitely seeing some income challenges as of mid-year," with claims in the individual and other markets "greatly exceeding the revenue we're taking in."

The move could save Blue Shield an estimated $4 million, by reducing its liabilities for paid time off.
Staffers are being required to use paid-time-off from September 6 to 9, Shivinsky confirmed. He said health plans nationally are facing challenges in the individual market and on the Obamacare exchanges, and some have said they plan to exit or cut back their participation, but Blue Shield isn't taking that step.

UnitedHealth Group (NYSE: UNH) said last month it planned to exit most Obamacare markets. Aetna (NYSE: AET) said it's reconsidering its presence in individual Affordable Care Act markets in 15 states, and Humana (NYSE: HUM) is pulling back as well.

Paid time off is a liability on the nonprofit health plan's books, and it wants to reduce that before year-end. Because open enrollment consumes the last few months of each calendar year, Blue Shield decided to ask employees to take extra time off in September, not later in the year, Shivinsky said.

Some customer service representatives and staffers who work in open-enrollment, information technology and medical services will still be expected to be on the job during that period.

Last month, Blue Shield said it was raising its Covered California rates by nearly 20 percent next year, citing the high costs of covering enrollees. It said it drastically underpriced premiums for the state's Obamacare exchange.

And in late February, the San Francisco insurer said it planned to cut about 460 jobs, most of them in Sacramento and the Central Valley. The actual number of jobs eliminated was close to 400, Shivinsky said late Thursday afternoon.

LINK


Obamacare was originally sold to the public as a way to cover the uninsured while cutting insurance premiums for other consumers. Instead, it has left millions uninsured, while millions more have lost their individual policies, and many others have seen their premium costs rise. In other words, Obamacare was a lie.




Except for the 22 million previously. uninsured that now have insurance. The GOP alternative is?

Except only 11 million enrolled. The young did not enroll which is why Obamacare is failing.

Sorry I forgot to include the medicare expansion part of Obamacare. No Gop plan for that either.

According to the report, Medicaid and Children's Health Insurance Program enrollees will total 68 million people in 2016 – or 16 million more people than anticipated six years ago, when the law passed. In 2015, Medicaid enrollees increased by 3 million, and by 2026 an additional 6 million are expected to enroll.

http://www.usnews.com/news/articles/2016-03-25/obamacare-medicare-coverage-much-higher-than-expected
Edited by Stoned, Aug 18 2016, 08:53 AM.
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