insurance companies making huge profi...

insurance companies making huge profits under obama

Posted in the Cocoa Beach Forum

big bucks obama

Orlando, FL

#1 Jan 18, 2014
This week, the chief executive of the nation’s largest health insurance company and a new analysis indicate major growth ahead for health plans that have contracts with state Medicaid programs thanks in large part to President Obama’s signature legislative achievement.

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As state budgets have been hurt by the stagnant economy, lawmakers have turned more patients eligible for Medicaid over to privately-contracted insurance companies. Now, the health law provides a cash infusion of more than $900 billion in federal dollars from 2014 to 2022 to expand Medicaid programs for states interested in the proposition.

“We expect to realize strong growth by serving in several ways: as established Medicaid programs grow through the ACA expansions; as eligible Medicaid prospects are identified through the federal and state exchange markets; and as the inevitable dual eligible …initiatives begin to form and are implemented,” UnitedHealth Group UNH -0.33%(UNH) chief executive officer Stephen J. Hemsley said on the company’s 2013 fourth-quarter and full-year earnings call earlier this week.

Helmsley has reason for optimism.

Enrollment in health plans that have contracts with Medicaid will rise by 20 percent this year and by nearly 40 percent from last year to 2016, according to a report this week from Avalere Health, a research and advisory services firm on health policy issues tracking the Affordable Care Act.

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