Special Enrollment Periods Drive Up Premium Costs, Insurers Say
Meanwhile, Humana reports that it is running afoul with the individual marketplaces set up by the 2010 health law.
The New York Times:
Insurers Say Costs Are Climbing As More Enroll Past Health Act Deadline
Eager to maximize coverage under the Affordable Care Act, the Obama administration has allowed large numbers of people to sign up for insurance after the deadlines in the last two years, destabilizing insurance markets and driving up premiums, health insurance companies say. The administration has created more than 30 “special enrollment” categories and sent emails to millions of Americans last year urging them to see if they might be able to sign up after the annual open enrollment deadline. But, insurers and state officials said, the federal government did little to verify whether late arrivals were eligible. (Pear, 1/9)
Humana To Record 2016 Obamacare Shortfall, Membership Drops
Humana Inc. is the latest insurer to run into trouble in Obamacare’s individual health-insurance markets. The health insurer said that it probably won’t collect enough money to cover costs for some customers who bought individual plans, and will set aside what’s known as a premium deficiency reserve. The shortfall is for 2016 plans that comply with new rules under the Affordable Care Act, Louisville, Kentucky-based Humana said Friday. (Tracer, 1/8)