Well THAT figures: Insurance carriers finally breaking even on ACA exchanges just in time for GOP to tear up the law.
2019 OPEN ENROLLMENT ENDS (most states)
Time: D H M S
Golf Clap. Nice timing, Republicans.
There could be a light at the end of a dark tunnel for Obamacare insurers.
Health insurers may finally be seeing improved results on their Obamacare plans just as a newly elected president is poised to follow through on promises to end the controversial coverage program, a new report suggests.
An analysis out Thursday says that health insurers are expected in 2016 "to start reversing" financial losses on their Obamacare business after "hitting bottom" in 2015.
And 2017 "will likely see continued improvement" for those insurers selling individual health plans, "with more insurers getting close to breakeven or better," according to the report by Standard and Poor's Global Ratings.
The report also says big price increases for Obamacare plans in 2017 were likely a "one-time pricing correction."
And S&P said that while it expects insurers to ask for premium hikes for 2018, it also believes that "the average level of increase requested will be well below the 2017 hike" of 25 percent for a key type of Obamacare plans.
That's just perfect karma, ain't it? Right when the ACA is over the hump and things are finally starting to settle down and stabilize, the GOP has the knives out to wipe the law out altogether.
I'm sure healthcare actuaries appreciate the joke.