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Blue Cross: Premium Payments Are 80% – 85%

From Reuters:

Blue Cross group sees Obamacare premium payments at 80-85 percent

By David Morgan | April 2, 2014

WASHINGTON (Reuters) – A leading federation of Blue Cross and Blue Shield health plans said on Wednesday that it is receiving premium payments from 80 to 85 percent of its new Obamacare health insurance customers.

Remember how Blue Cross and Blue Shield were ordered not to give out any numbers back in the early days of the Obama-Care roll-out? (See below.) Now we know why.

The estimate, released by the Chicago-based Blue Cross Blue Shield Association, reflects enrollment activity among 35 Blue Cross Blue Shield plans in 47 of the 50 states, including plans sold by WellPoint Inc, from October 1 through February 1…

That is quite a wide sample. And it also comports with the numbers we have gotten from other insurers.

If the Blue Cross Blue Shield payment rates held true for enrollment across the board, between 5.7 million and 6 million of the 7.1 million would actually be enrolled in coverage.

Which would make the number of Obama-Care numbers match the number of policies that were cancelled by Obama, which is put at 5 to 6 million. What a coincidence, huh?

The Blue Cross Blue Shield Association did not say how many of those who have signed up for coverage under Obamacare are new customers.

Were they told not to say? In any case, any or even all of these wonderful sign-ups could just be people who were kicked off their old plans.

But just as a thought experiment, imagine if the government forced 6 million people to trade in their Toyotas for Chevys. Would anyone claim that means there are 6 million new cars on the road?

Anyway, here is a flashback to an October article from the North Dakota newspaper, The Forum Of Fargo-Moorhead:

Feds ask Blue Cross Blue Shield not to release exchange numbers

By Kyle Potter | October 22, 2013

FARGO – The Obama administration asked North Dakota’s largest health insurer not to publicize how many people have signed up for health insurance through a new online exchange, a company official says.

During a Monday forum in Fargo for people interested in signing up for coverage via the exchange, James Nichol of Blue Cross Blue Shield of North Dakota told the crowd his company received the request from the federal government earlier Monday…

And if the feds told this one company, they probably told them all. And we know why they were told to zip it.

This article was posted by Steve on Thursday, April 3rd, 2014. Comments are currently closed.

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