Insurers Increasingly Returning To Health Law Marketplace In Stark Turnaround From Early Days Of ACA
Insurers no longer view the Affordable Care Act marketplace as a black hole for profits, but rather as a boon to their bottom line -- especially in the midst of a pandemic.
Politico:
Coronavirus Drives Health Insurers Back To Obamacare
Health insurers fled the Affordable Care Act in the early years of the law, fearing that losses from covering too many sick people would eat away at their profits. Now the insurers increasingly view Obamacare as a boon while job-based health coverage faces its biggest threat yet in a crashing economy. With tens of millions of people losing their jobs — and their health benefits — along with major cuts to Medicaid, the insurers see stability and the promise of enough healthy enrollees in a marketplace that offers government subsidized private insurance to millions of Americans during a pandemic. (Goldberg and Luthi, 5/14)
ABC News:
27 Million Americans May Lose Health Insurance Coverage: Report
Soaring unemployment numbers could translate into nearly 27 million people losing their health insurance, according to a new report. "Between March 1st and May 2nd, 2020, more than 31 million people had filed for unemployment insurance," notes the Kaiser Family Foundation report, which was released Wednesday. "Actual loss of jobs and income are likely even higher, as some people may be only marginally employed or may not have filed for benefits." Along with losing their jobs, Americans who previously had health insurance coverage through their employers will lose that, too. (Schumaker, 5/13)
