Apr 19, 2016
Freedom Partners Statement on UnitedHealthcare Announcement
Post by Derek Yale
Arlington, VA — America’s biggest insurer, UnitedHealthcare, today announced that in 2017 it will pull out of most of the 34 Obamacare exchanges where it currently offers plans, citing financial losses. This announcement comes on the heels of recent revelations that CMS is improperly diverting $4 billion taxpayer dollars from the Treasury Department to insurance companies continuing to lose money under Obamacare.
Freedom Partners Senior Policy Adviser Nathan Nascimento issued the following statement:
“It’s no surprise that the Obamacare ‘exchange’ system is failing — less choice and higher costs in health care are unattractive options for hardworking Americans already suffering under a sluggish economy. But instead of addressing the root problems with the Affordable Care Act, CMS’ answer to this mess has been to shove billions of taxpayer dollars into the hands of unhappy insurers. Now, the Obama administration owes the American people the $4 billion they’ve improperly used for the Obamacare bailout.”
This major announcement is just the latest indicator that the Obamacare exchanges are unstable. Last November, UnitedHealthcare executives threatened to exit the health exchanges altogether, citing severe financial losses, wavering exchange stability, and the systemically failing CO-OPs.