Originally posted by whodey
Great news Dims, yet another evil money loving corporation is pulling out of Obamacare cuz they can't make money from it.
A few facts are necessary (as always when we are in a whodey thread):
1) Anthem is not pulling out of the exchanges altogether but only from the Ohio one. That still leaves it operating in 13 States;
2) This could be a problem in the 20 counties in Ohio where Anthem is the only insurer on the exchanges (though another company could pick up the slack) but those counties contain only 6% of all marketplace enrollees in Ohio;
3) Guess why Anthem is pulling out:
According to the Wall Street Journal, Anthem called the market "volatile," and said it was having trouble pricing its plans, which is now “increasingly difficult due to the shrinking individual market as well as continual changes in federal operations, rules and guidance.” It singled out the uncertainty over whether the government would continue paying crucial subsidies, known as cost-sharing reduction payments, that reimburse insurers for limiting out-of-pocket expenses for lower-income customers.
President Trump has threatened to cut off the funding on multiple occasions, and in May his administration asked for an additional three months to decide whether it would continue appealing a lawsuit brought by House Republicans aimed at stopping the payments, which are expected to be worth $7 billion this year. While the government delivered last month's payment, the administration won't commit to continuing them. The indecision has led panicked insurers to request large premium hikes and warn that they might have to leave the market entirely next year if the subsidies dry up. America's Health Insurance Plans, the major industry trade group, has called it "the single most destabilizing factor in the individual market."
So the present administration is basically trying to sabotage the health insurance exchanges for political reasons; screw the millions of Americans who rely on the exchanges for their health.