Drudge Retort: The Other Side of the News

Drudge Retort

User Info

Donnerboy

Subscribe to Donnerboy's blog Subscribe

Menu

Special Features

Friday, August 14, 2015

The U.S. has reopened its embassy in Cuba more than 54 years after it was closed, in a symbolic step signalling the warming of ties between both countries. John Kerry, the first Secretary of State to visit Cuba in 70 years, presided over the ceremony in Havana. The U.S. flag was presented by the same Marines who brought it down in 1961. Cuba reopened its embassy in Washington last month but the former Cuban leader Fidel Castro has blasted the U.S. for not lifting its trade embargo. read more


Wednesday, August 12, 2015

The police chief in the Dallas suburb of Arlington says an officer who's been fired over the fatal shooting of an unarmed Texas college football player should not have approached the 19-year-old burglary suspect alone. Arlington Police Chief Will Johnson on Tuesday said he had fired officer Brad Miller over the shooting of Christian Taylor. Johnson says he's troubled by some of the actions Miller took while responding to a reported burglary at a car dealership early Friday morning. Johnson said investigators had received officers' statements regarding the burglary call and subsequent shooting and that some of the behaviors exhibited by the responding officers were "troubling." read more


Wednesday, August 05, 2015

Planned Parenthood's five clinics in New Hampshire will lose about one-third of their funding, after the state's Executive Council voted to halt their state dollars on Wednesday.

The council, comprised of three Republicans and two Democrats, rejected about $650,000 in state funding to the women's health and abortion provider, according to the Associated Press. Council members said the group should instead be investigated, now that it is known that some Planned Parenthood clinics participate in aborted fetal tissue donations. read more


Thursday, June 25, 2015

WASHINGTON (AP) -- The Supreme Court has upheld the nationwide tax subsidies under President Barack Obama's health care overhaul, in a ruling that preserves health insurance for millions of Americans.

The justices said in a 6-3 ruling Thursday that the subsidies that 8.7 million people currently receive to make insurance affordable do not depend on where they live, under the 2010 health care law.


Thursday, June 18, 2015

In the first papal encyclical Pope Francis has written, he said climate change was mostly down to human activity and policies were urgently needed to cut carbon emissions, such as by reducing fossil fuels and developing renewables.

People in wealthy countries need to change their unsustainable lifestyles, as exploitation of the planet has already exceeded acceptable limits and millions of tonnes of waste are being generated, making the Earth look more and more "like an immense pile of filth". read more


Comments

This is not new, medical insurers for Obama care all over the country are failing, not enough enrollment but listening to the left it is doing great.

#5 | Posted by moneywar

You are right... this is not new. Insurance companies fail.

The National Organization of Life and Health Insurance Guarantee Associations has a partial list of Life / Health (LH) insurance companies that have been "impaired" or gone insolvent. I count over 60 companies on that list and the list covers from 1983 to today. But thats just a partial list so more then that have failed. But if over 60 companies failed in 27 years then thats an average of over 2 failures / year. About 11 of the companies on that list were just "impaired" which means that they remained in business but were taken over.

www.freeby50.com
ssbenefits.net
www.nolhga.com

Insurance companies fail. Due to bad business and poor management as noted in the article.

Plus, the co-op made a critical mistake: Only Nevada allows enrollment in non-exchange plans outside of the federal sign-up period, which runs from Nov. 1 to Jan. 31. Most insurers require a 90-day wait to discourage people from going without a plan until they get sick, but the co-op started with no waiting period, then added a 30-day window in late 2014. That created a sicker -- and pricier -- member pool, Casale said.

"They bought bad business, and that was poor management," he said.

But the co-op's biggest problem may have been its overhead. The U.S Health and Human Services Department's Inspector General pegged the co-op's administrative expense-to-premium ratio at 37 percent -- almost double the 20 percent allowed under Obamacare.

Those costs included first CEO Tom Zumtobel's $417,000 annual salary -- pay that might be reasonable for a local executive of a Fortune 100 insurer with a $100 billion market cap but is excessive for a small startup nonprofit with no members and less than $70 million in federal loans as its reserve, Casale said.

"They were the most top-heavy company in the marketplace," he said. "When it got out how much money their CEO was making, a lot of people were saying, 'Are you kidding me?'"

Drudge Retort
 

Home | Breaking News | Comments | User Blogs | Stats | Back Page | RSS Feed | RSS Spec | DMCA Compliance | Privacy | Copyright 2015 World Readable