More Insurers Quit Obamacare

Comment: In yet another “victory” for the most-hated American law since King George’s Stamp Act drove Americans to armed revolution, Obamacare continues to send insurers scurrying, wounded and bleeding money, seeking shelter in the hills of Tennessee, and on up to the wintry wilderness at Lake Michigan’s northern Indiana shore.

(Note to Readers: while OCTS is not predicting a flotilla of insurance boat people refugees fleeing oppression at this time, departing the United States from northern Indiana, across Lake Michigan, you might want to talk to your investment professional about buying stock in inflatable rubber boats.) (And don’t forget to buy one for yourself, too, just in case you need health care.)

“Tennessee’s biggest health insurer is dropping its participation in the Affordable Care Act health exchange next year in the state’s three biggest markets, cutting coverage of the 214,000 persons now enrolled in one of the so-called ObamaCare exchange plans by more than half.”

“BlueCross BlueShield of Tennessee announced today that it will be withdrawing its ACA exchange plans in 2017 in the Memphis, Nashville and Knoxville markets to help limit its exposure to what has cost the Chattanooga-based health insurer nearly $500 million in losses in the past three years.” [1]


“Indiana University Health Plans, the insurance arm of the IU Health provider system, will not offer plans on the state’s Affordable Care Act marketplace in 2017, the company said Monday.” [2]

[1] BlueCross eliminates Obamacare coverage in Tennessee’s biggest markets
September 26th, 2016 by Dave Flessner

[2] IU Health Plans leaving Indiana’s ACA exchange,
By Bob Herman | September 26, 2016

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