Tell that lie once again to 58,000 Californians, who will be losing their healthcare thanks to ObamaCare (Freedom Outpost).
Remember when Barack Obama stood before the American people and said “if you like your healthcare plan, you can keep your healthcare plan”? Well, like everything else that comes out of his mouth that was a lie. Fifty-eight thousand Californians are about to learn that the hard way.
Why is this? Apparently two of the companies that offer individual coverage in California have decided they are pulling out of the market next year, once the individual mandate takes effect.
The Los Angeles Times reports:
The nation’s largest health insurer, UnitedHealth Group Inc., is leaving California’s individual health insurance market, the second major company to exit in advance of major changes under the Affordable Care Act.
UnitedHealth said it had notified state regulators that it would leave the state’s individual market at year-end and force about 8,000 customers to find new coverage. Last month, Aetna Inc., the nation’s third-largest health insurer, made a similar move affecting about 50,000 existing policyholders.
And this trainwreck will soon be coming to all of us soon.Both companies will keep a major presence in California, focusing instead on large and small employers. They both have relatively small shares in the market in California. United Health has about 2 percent of the market and Aetna has about 5 percent. Both companies will be providing coverage in the group market, mainly through employers.“The business model of health insurance is fundamentally changing and some companies are willing and able to adapt,” Georgetown University professor Sabrina Corlette told the Times. “Given the limited market share those carriers had, UnitedHealth and Aetna have made the calculation that it required too much of an investment to change their strategy in California.”