Funny and predictable.
From the Orange County Register
Red ink could k**l Covered California
ORANGE COUNTY REGISTER EDITORIAL
2015-04-21 15:59:59
After two previous extensions, the open enrollment period for Covered California ends April 30. That deadline just might prove to be the tipping point for the states two-year-old health insurance exchange.
Thats because this is the year Covered California is supposed to become completely self-sustaining.
Indeed, theres no more money coming from Washington after the state exhausts the $1.1 billion it received from the federal government to get the Obamacare exchange up and running. And state law prohibits Sacramento from spending any money to keep the exchange afloat.
That presents an existential crisis for Covered California, which is facing a nearly $80 budget deficit for its 2015-16 fiscal year. Although the exchange is setting aside $200 million to cover its near-term deficit, Covered California Executive Director Peter Lee acknowledged in December that there are questions about the long-term sustainability of the organization.
Mr. Lees disquieting assessment actually jibed with a 2013 report by the state auditor, which stated that, until the states health insurance exchange actually started enrolling Californians in health plans, its future solvency was uncertain. Thus, Covered California was listed as a high-risk issue for the state.
The state auditors warning appeared prescient as of Feb. 15, which was supposed to be the close of open enrollment for 2015: Covered California had fallen 300,000 enrollees short of the goal set by Mr. Lee and the agencys board of directors.
Indeed, Covered Californias enrollment growth for 2015 was a mere 1 percent, according to a study this month by Avalere Health. That was worst than all but two other state exchanges. Meanwhile, Californias Obamacare exchange managed to retain only 65 percent of previous enrollees, the nations fourth-lowest re-enrollment rate.
We look forward to next weeks enrollment numbers from Covered California; to see if there is another near-miraculous, 11th-hour spike in enrollments enabling Mr. Lee to claim a successful enrollment period (and for opinion writers around the country to once again hail California as prima facie evidence that Obamacare is working.
But theres no getting around Covered Californias balance sheet. If it continues to run yearly operating deficits, it will not long survive.
SBW wrote:
Funny and predictable.
From the Orange County Register
Red ink could k**l Covered California
ORANGE COUNTY REGISTER EDITORIAL
2015-04-21 15:59:59
After two previous extensions, the open enrollment period for Covered California ends April 30. That deadline just might prove to be the tipping point for the states two-year-old health insurance exchange.
Thats because this is the year Covered California is supposed to become completely self-sustaining.
Indeed, theres no more money coming from Washington after the state exhausts the $1.1 billion it received from the federal government to get the Obamacare exchange up and running. And state law prohibits Sacramento from spending any money to keep the exchange afloat.
That presents an existential crisis for Covered California, which is facing a nearly $80 budget deficit for its 2015-16 fiscal year. Although the exchange is setting aside $200 million to cover its near-term deficit, Covered California Executive Director Peter Lee acknowledged in December that there are questions about the long-term sustainability of the organization.
Mr. Lees disquieting assessment actually jibed with a 2013 report by the state auditor, which stated that, until the states health insurance exchange actually started enrolling Californians in health plans, its future solvency was uncertain. Thus, Covered California was listed as a high-risk issue for the state.
The state auditors warning appeared prescient as of Feb. 15, which was supposed to be the close of open enrollment for 2015: Covered California had fallen 300,000 enrollees short of the goal set by Mr. Lee and the agencys board of directors.
Indeed, Covered Californias enrollment growth for 2015 was a mere 1 percent, according to a study this month by Avalere Health. That was worst than all but two other state exchanges. Meanwhile, Californias Obamacare exchange managed to retain only 65 percent of previous enrollees, the nations fourth-lowest re-enrollment rate.
We look forward to next weeks enrollment numbers from Covered California; to see if there is another near-miraculous, 11th-hour spike in enrollments enabling Mr. Lee to claim a successful enrollment period (and for opinion writers around the country to once again hail California as prima facie evidence that Obamacare is working.
But theres no getting around Covered Californias balance sheet. If it continues to run yearly operating deficits, it will not long survive.
Funny and predictable. br br From the Orange Cou... (
show quote)
Another "I told you so" to the liberals who v**ed for Obummercare. :hunf: :XD: :XD:
bcheary wrote:
Another "I told you so" to the liberals who v**ed for Obummercare. :hunf: :XD: :XD:
:thumbup: :thumbup:
There will be a lot of those in the coming years and maybe they will own up to them. Wait, probably not, you would have to be honest to do that!
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