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Obamacare Coops In Serious Trouble

SOCIALIZED MEDICINE FAIL … || By FITSNEWS || Well, well … It looks like people can’t even keep the Obamacare insurance they got … after they couldn’t keep the insurance they liked. And it looks as though a salary review needs to be done for South Carolina’s Obamacare Cooperative, as well as an…

SOCIALIZED MEDICINE FAIL …

|| By FITSNEWS || Well, well …

It looks like people can’t even keep the Obamacare insurance they got … after they couldn’t keep the insurance they liked.

And it looks as though a salary review needs to be done for South Carolina’s Obamacare Cooperative, as well as an overall health check to see how long it has to live …

As people lose their Obamacare subsidies, enrollment will drop.  Is the S.C. General Assembly going to bail out the state’s Obamacare Coop if it stays in the red?

Because that’s where it is right now … $3.8 million in the red.

Earlier this year, The Daily Caller reported that the Palmetto State was one of five states to exceed salary limits for executives established by federal law.  And while enrollment in South Carolina has been strong (duh, our state is full of poor people) – that still hasn’t resulted in profitability for the co-op, one of 23 established across the country with nearly $3 billion in taxpayer guaranteed loans.

According to a report (.pdf here) released earlier this year by the U.S. Department of Health and Human Services (HHS), all but one of those 23 co-ops – selected by the federal government due to their “high probability of financial viability” – are losing money.

Two have gone belly-up, while another seventeen have requested … wait for it … double digit rate increases in an effort to help cover the losses.

Ah, socialized medicine …

***

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79 comments

Like 1st world countries do September 30, 2015 at 4:35 pm

Another good reason to go single-payer.

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The Rest Of The First World September 30, 2015 at 4:44 pm

That would require Fits to understand what “Socialized Medicine” actually is.

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Finally came clean September 30, 2015 at 5:15 pm

So you admit that you- the Democrat Party – and the NAZI Party are the same…I doubt FITSNews want to out you…

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Can't Reach Your Level Of BS September 30, 2015 at 5:23 pm

You can’t argue with that kind of logic??

Reply
Sic Semper Tyrannis September 30, 2015 at 5:49 pm

U sucked a dick, now u r Fucked, LMAO !!!

Sic Semper Tyrannis September 30, 2015 at 5:47 pm

You R Fucked, LMAO !!!!

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RogueElephant October 1, 2015 at 12:14 am

That was the idea all along.

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More reason to elect GOP September 30, 2015 at 4:45 pm

The New GOP Power structure MUST rip out this IGNORANT and Failed scheme.

One of the BIGGEST failures of the Liberal-Tarians in the US House and US Senate – according to polling data – has been letting Obamacare go forward despite the massive and undeniable FAILURE of it.

And with the Shit-canning of Boehner, I think the MESSAGE is been received LOUD AND CLEAR…Obamacare MUST go, as soon as the new president is seated. We will Reward you, and No EXCUSE will be accepted…

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vicupstate September 30, 2015 at 4:52 pm

They can’t rip it out, they have nothing to replace it with.

The GOP leadership in Congress has no intention of repealing Obamacare regardless of the 2016 elections.

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R U THAT Fucking Stupid? September 30, 2015 at 5:10 pm

You buy your insurance from the insurance company, you IGNORANT FUCK. That worked for 200 years…

Replace it with something that actually WORKS, Dumbass…

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grandtangosuglydog September 30, 2015 at 5:24 pm

is it me or is loser boy going off the edge? Seems ot be even more of a liar/pussy/retard than usual…hmmmm me thinks his obsession with gay anal sex and pedophilia has gotten the best of him.

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U exterminate kids September 30, 2015 at 6:28 pm

Why are you attacking Special Needs children. Hitler thought like you. He used hateful names toward kids that he saw as inferior.

grandtangosuglydog September 30, 2015 at 7:47 pm

possible when your blog failed it was due to the fact you never respond when called out as a liar just throw out the usual non-sequitur and hope everyone forgot the original comment? No im kidding..what i wrote was true but…it failed because you lose at everything, losers lose.

Not that I don't respond September 30, 2015 at 8:46 pm

You just go deaf when the truth is presented to you…Dumbass…

The DNC trained you like that…It needs idiots who cannot hear reason…

GT is Special Needs October 1, 2015 at 8:45 am

I think he just admitted to being special ed.

Wasn't Working Before September 30, 2015 at 5:26 pm

You been under a fucking rock for the past few decades?

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guest September 30, 2015 at 5:31 pm

What would you know about buying health insurance from an insurance company? It isn’t and hasn’t been affordable for the average American in over a decade. I should know since I’ve been paying for a private policy for 12 years. My financial situation allows me to pay an arm and leg to BCBS though.

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Sic Semper Tyrannis September 30, 2015 at 5:45 pm

U R Fucked, LMAO !!

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That Hasn't Worked October 1, 2015 at 8:41 am

So many horror stories of people sent home to die because they couldn’t afford insurance.

So many horror stories of people going into bankruptcy because they couldn’t afford their medical bills even with insurance.

It hasn’t worked at all you ignorant shit.

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Sic Semper Tyrannis September 30, 2015 at 4:53 pm

You got it. Elect GOP for more money for nothing. Spend billions on nothing Great party !!

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Sic Semper Tyrannis September 30, 2015 at 4:54 pm

You done day got !

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Sic Semper Tyrannis September 30, 2015 at 4:59 pm

Not even possible. Fuck u Hitler !

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To the contrary, Dumbass September 30, 2015 at 5:08 pm

Hitler was a champion of Socialized Medicine, just like you.

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Sic Semper Tyrannis September 30, 2015 at 5:44 pm

You’re still fucked, LMAO !!-

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RAkkasan October 1, 2015 at 11:24 am

Well thought reply. Some of your very best.

Socialized Medicine October 1, 2015 at 9:04 am

Post-Hitler Germany is a champion of socialized medicine too.

Same with the UK.

Same with Canada.

Same with Australia.

Same with France.

Same with Denmark.

Same with Sweden.

Same with Norway.

Same with Finland.

Same with Switzerland.

Same with Japan.

Same with South Korea.

Same with New Zealand.

Get the picture yet?

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Rakkasan October 1, 2015 at 9:38 am

Yes I do. Everybody has health care. Nobody goes bankrupt because of medical bills. They don’t have to choose between “taking their pills” and eating. What I also “get the picture” that they also don’t have the cultures of poverty that we don’t, that result in life expectancy rates for the poor about the same or worse than third world countries. And, spare me the pathetic “love it or leave it” comment. I’ve been hearing that from the sheep on the right since Vietnam, another great right wing success story. How about “love it and change it”?

Sic Semper Tyrannis September 30, 2015 at 4:56 pm

A great day for the USA !

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Jackie Chiles September 30, 2015 at 4:59 pm

Am I missing something? Looks like the projected net income for 2014 was -$8.1 million and it was actually only -$3.8 million. It is projected to have another -$3.8 million year in 2015, with 2016 being the year it becomes profitable.

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U R Joking, Right? September 30, 2015 at 5:06 pm

You CANNOT have a system that seeks non-payers and Takers, who refuse to take care of themselves, for a very EXPENSIVE, uncontrollable, and unpredictable service…and promise “Profitability.”

Stupid Bullshit like that is WHY we’re in such a Fucking mess now. And the programs before Obamacare are in the Amoeba sage compared to this Catastrophe of a Fuck-Up waiting to explode…

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Jackie Chiles September 30, 2015 at 5:14 pm

Again, this doesn’t address the fact that, according to the predictions, the SC Co-Op is doing better than projected.

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Face it, It's a DISASTER September 30, 2015 at 5:18 pm

If you believe ANY number the gov’t, or the media is feeding you about Obamacare, you are VERY naive.

We have 94 million people unemployed (highest number of unemployed in the history of the US) yet the media and the Obama gov’t tell you the unemployment rate is 5.4% or lower.

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erneba September 30, 2015 at 6:42 pm

And ObamaCare has been underwater in the polls for months, Most Americans don’t like it. Running a forty per cent approval is not an overwhelming endorsement. Been that way for months.
John Roberts really screwed up, twice.

Just look at Hillary's numbers September 30, 2015 at 8:22 pm

That should tell you all you need to know about Obamacare…

CorruptionInColumbia September 30, 2015 at 10:54 pm

I still think 0bama has pics of Roberts screwing a dog or maybe a child.

erneba September 30, 2015 at 6:26 pm

It is my understanding that most people signing up are receiving mass subsidies, therefore crippling some state exchanges. I would stay away from this thing like I would stay away from a bad case of the ‘clap.”

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CorruptionInColumbia September 30, 2015 at 6:48 pm

The sad thing is, I could go to the doctor and get treated for and cured of the clap much quicker and for less money than this crap will cost me. Bastards stole $400 from me last year for not having their insurance and it will probably be $800 next year.

erneba September 30, 2015 at 7:10 pm

You are right, ObamaCare is so screwed up, no one likes it except the ones getting it with our money.
I keep saying that most of the working people in this Nation don’t understand how expensive and how bad the diminished service and treatment will be. Just wait till the full-scale disgust sets in.
ObamaCare approval is at forty percent, and most of those people are the ones getting it for free and die-hard ideologues.

erneba September 30, 2015 at 7:12 pm

Never had the clap, and I spent seven years in the Navy.
Guess I was lucky.

Jackie Chiles October 1, 2015 at 9:03 am

I’m just saying that it looks like the co-op was set up with an anticipation that it would be losing money for a few years, as most new companies do, before it became profitable. If that was the plan, then it looks like thing are going according to plan-better-actually as the co-op has 238% more people enrolled than they anticipated.

Co-op guy October 1, 2015 at 2:38 pm

No. Its earnings are propped up by intra-system transfers. From Tenn Co-op to SC co-op.
Might be “funny money.

Jackie Chiles October 2, 2015 at 9:18 am

Where are you seeing intra-system transfers from the GAO report?

Dick October 1, 2015 at 6:44 pm

They are losing money hand over fist. They expected $60 million from the feds but got $80 million instead.

The extra $20 million produced only a $3 million “profit.” What happened to the $13 million?

Ask Sam Griswold, the big government lover and board member of the SC Co-op.He seems to know where all the taxpayer dollars go when they are liberated from the hardworking people that actually earned them!

Jackie Chiles October 2, 2015 at 9:17 am

Where are you seeing they received $80 million from the feds?

Co-op guy October 2, 2015 at 12:03 pm

You don’t see it and that is the point. They were started with an $80 million dollar gift from the Feds.

Also, I hear they have transferred money from their TN sister co-op.

This are not going well for the Co-op. These things rarely do

co-op September 30, 2015 at 8:52 pm

They will not make it. Their books appear to have been propped up by inter system transfers.

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erneba September 30, 2015 at 6:23 pm

And we have not seen the worst of ObamaCare yet. With these State Exchanges failing, premiums going up, service going down, we are only the edge of a great financial debacle.

ObamaCare is quickly becoming the patient and it is entering a “critical” state. This thing will have to be replaced soon. The number of insured is dropping, this thing will have a major effect on our economy.

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RAkkasan October 1, 2015 at 9:51 am

Oh, I thought you were talking about corporations and farmers that you give welfare to–and like it

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Co-op guy September 30, 2015 at 8:51 pm

The Co-op is propped up by transfers between systems. In my humble opinion their true financial shape cannot be know with books like this.

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stumpknocker September 30, 2015 at 5:08 pm

are you part of a death panel if you are trying to take away healthcare from the sick?

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Fewer R Now insured September 30, 2015 at 5:13 pm

Fewer people are insured now, than there were before Obama, and the Democrat Party, fucked it up w/ Obamacare….And the (PAYING) insured have less coverage for more costs so they are using the doctor less…endangering themselves.

So going by your analysis…Obama is increasing the Death Panels…Will you now concede the Republicans are right about Death panels?

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stumpknocker September 30, 2015 at 5:21 pm

no because more people are insured, you can spew that bullshit to your fellow right wing nuts because they just want talking points fact or fiction

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grandtangosuglydog September 30, 2015 at 5:22 pm

Since every word of your statement is provably false, as usual..in other words you once again are proven as a liar/pussy/retard. You make so easy for us..hard to believe yoru blog was such a utter failure..pretty much sums up your life…right!!

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stumpknocker September 30, 2015 at 5:24 pm

did you notice fits had nothing to say about the planned parenthood hearing yesterday, the republicans made such fools out of themselves even fits can’t polish that turd.

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Sic Semper Tyrannis September 30, 2015 at 5:55 pm

He dosent report stupidity.

Admit it, Obamacare a disaster September 30, 2015 at 5:39 pm

Bullshit. You are as fucking stupid as Baghdad Bob.

The DNC loves idiots, who will believe anything they tell you.

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Sic Semper Tyrannis September 30, 2015 at 5:42 pm

U r a dumb SC person. Fuck off !

RogueElephant October 1, 2015 at 12:08 am

I just thought of something, Bagdad Bob made it out of Iraq and is now on fits as Sic Semper Tyrannis. I thought I remembered that load of BS from some where. Thanks for reminding me.

Democratic National Committee October 1, 2015 at 9:10 am

We do love idiots, which is why we adore you. You make us look so much better! Thanks GT!

Sic Semper Tyrannis September 30, 2015 at 5:54 pm

Kill em stupid

Reply
Pants On Fire October 1, 2015 at 9:13 am

http://www.gallup.com/poll/182348/uninsured-rate-dips-first-quarter.aspx

Uninsured rate when Obama came in was 15.4%

Uninsured rate Q1 2015 is 11.9%

FUCK YOU GT!!!!!!

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Rakkasan October 1, 2015 at 9:49 am

Death Panels existed long before Obamacare. They’ve existed forever in private health insurance companies and government healthcare programs like Medicare, Medicaid, Tricare, etc. They just go by a different name: denial of coverage. What you are referring to is a provision in ACA to cover/provide for end-of-life planning rather than patients and their families showing up with a life threatening medical problem or emergency and demanding that “everything possible be done for Me-Maw–no expense spared”, when 1) Me-Maw may want to die with dignity, and 2) that “no expense spared” results in costs for other people.

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Clue October 1, 2015 at 9:06 am

I know who the perp is! Ted Cruz in the bathroom with a lead pipe!

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Private Death Panels September 30, 2015 at 5:33 pm

We need to kill more of our clients to raise our profits.

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Sic Semper Tyrannis September 30, 2015 at 5:41 pm

Just like killing babies, agreed .

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Sic Semper Tyrannis September 30, 2015 at 5:51 pm

Yea, I sucked it. Now I like it. LMAO !!!

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Angela Parker October 1, 2015 at 5:01 am

as Jimmy said I am dazzled that a single mom can get paid $28273 in four weeks on the internet ……..Easy online work for all. Make $5000 to $9000 per week online.4-5hour daily work………read the full info here
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? October 1, 2015 at 3:58 pm

Can you name one truly private death panel? Just one- that is truly private, meaning it gets no money from government.

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Sic Semper Tyrannis September 30, 2015 at 5:51 pm

Kill em day got ?

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Sic Semper Tyrannis September 30, 2015 at 5:56 pm

Where us your dumbass ?

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Elfego September 30, 2015 at 6:47 pm

Man on man all of this be free stuff so we don’t care how much de lose!

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Co-op guy September 30, 2015 at 8:50 pm

Sam Griswold, the defender of the money losing SC Investment Commission, is on the board of directors of the SC Healthy Connections Co-ops. He advocated for and rammed though the outrageous pay of $585,000 per year. That same CEO also makes $300,000.00 per year running a co-op in Tennessee! (The Tennessee co-op just raised premiums 45%!!) This health care do-gooder CEO make nearly a million dollars a year, plus benefits.

The SC co-op received an $80 million dollar loan from the federal government (fat chance getting that paid back) and are blowing through that money like water.

Their balance sheet appear “propped up” by transfer between systems. Who knows who bad their real shape is…we will find out when they go broke and leave us taxpayers with the bill!

Sam Griswold is a big spending democrat that is supporting the worst performing investment commission in the country…one that the taxpayers will have to bail out.

Sam Griswold is a big spending democrat that is supporting the health care co-ops where the do gooders are getting rich and the taxpayers are left to pay the bill.

How much is Sam Griswold making off this? I don’t know, but Sam Griswold sure likes to be close too and support failing agencies that have huge sums of other people’s money. That is a recipes for those with sticky fingers to get rich!

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idcydm September 30, 2015 at 9:15 pm

Sounds like we need some deconfliction.

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AllenChicago September 30, 2015 at 11:46 pm

Senator Obama said in 2004 that he believed in Government-run health insurance for all Americans. But, he said that you could not simply implement single-payer in a single stroke. You’d have to get there using a back door method..and it would take several years to achieve.

I believe this is what we’re seeing. The Co-ops imploding, double-digit rate increases nationwide…and many major health insurers drastically reducing their medical provider networks, along with Prescription formularies for 2016. (Ex.. BCBS of IL and TX)

Depending on who is elected President in 2016, we may very well be close to single-payer shortly thereafter. The big wild-card will be the medical profession. Single-Payer will reduce their incomes and revenues down to Medicare levels…which is about 30% less than what they’re paid now by health insurance companies. Time will tell! The certain thing is that the course we’re on now is unsustainable.

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RogueElephant October 1, 2015 at 12:02 am

Proving yet again : socialism has never worked anywhere it has been tried. Free markets have never failed anywhere they have been tried. WOW. Conservatives are never wrong, liberals are never right and moderates don’t know the difference. Next question. LOL

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schealthconnector October 1, 2015 at 9:18 am

This article leaves out a few important facts and figures.

First, anyone in the health insurance industry knows that building a profitable health plan does not occur overnight. Secondly, as evidenced in the report cited in the article, the SC Co-OP reported a loss of $3,808,177, HOWEVER, the projected losses for 2014 (as submitted in their business plan) was -$8,135,435. The original business plan projected the plan being in the black by the end of 2016. At this point it appears the SC co-op is beating estimates by about 50%.

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Dick October 1, 2015 at 6:39 pm

They also thought they were getting about $60 million from the Feds. They ended up getting $80 million.

Lets see, they got an extra $20 million of taxpayer dollars but only improved the bottom line by $3 million.

That is crap. Crap crap crap. I hope the Feds are going through those books!

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Failure accomplished October 1, 2015 at 9:32 am

It really doesn’t matter how much money Obamacare makes or loses; the quality of care will resemble the service level the Post Office, the DOT, or the DMV provides.

As time marches forward, as it moves farther away from the market- it will cost those paying for it more and more despite having similar government agency service levels.

The fact it’s losing less money than projected this year has nothing to do with the fact it already costs the taxpayers more than they were paying when it wasn’t in existence.

Everyone knew Obama was lying when he said it would actually reduce costs.

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