This one comes courtesy of Longtime Sharp VodkaPundit Reader™ JLW:
Health insurer Highmark lost $318 million during the first half of 2015 on policies intended for the online marketplace that’s part of the Affordable Care Act, or Obamacare. That’s up from a $78 million loss during the same period last year.
Pittsburgh-based Highmark, which is also a major Harrisburg-area employer, attributed the loss to customers who turned out to be sicker, and in need of more medical care, than expected. Officials said that when Highmark set 2015 premiums, it had little previous claims experience with many of the customers who accounted for the unexpectedly heavy usage.
Highmark officials said premiums for Highmark plans sold on the exchange will rise by 25 to 30 percent for 2016.
If only someone could have predicted that the people buying insurance on the exchanges would prove to be older and sicker than the White House promised.
Oh, wait — I’ve been saying that for half a decade or so now.
And, as John Lennon sang, I’m not the only one.
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