The Revival of the Insurance Companies in the US

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One thing that the insurance companies can tell you is that they deal with a market that is not for the faint hearted. Health Insurers in the United States had threatened that they would stop offering the Affordable Care Act insurance covers due to various reasons. However, good news has emerged this week when many insurance providers have issued a statement saying that they will continue offering the services despite the uncertainties surrounding the bill. However, the real battle for the Obamacare is yet to come this September as this is the period that many insurance companies set their premiums. These decisions will be made under the threat of the federal government of cutting funds that finance some part of the Obamacare. The insurers are also eager to hear what the Senate decides on 6th September concerning the bill. In the coming months, the lawmakers have the ability to stabilize the volatile market. The dream of dismantling the Affordable Care Act by Republicans is long gone. What is left now is the issue whether insurance companies can make money from the Obamacare. The health of the insurance markets is also at stake. What we should keep in mind is that insurers saw a money making machine 10 years ago when the bill was passed.

According to experts, they saw new customers who will be buying the premiums in millions. At the same time, these customers would be backed by government subsidies that were very generous. However, this was not to be as major health insurers in the country have already pulled out from the project. The latest company to pull out from the Obamacare business is a New York based firm known as Northwell Health. They announced that they would be shutting down the CareConnect insurance unit at the end of the year citing instability caused by Washington as the main reason for pulling out. Experts say that the remaining companies still offering Obamacare have managed to narrow their losses. This is despite the threats made by Washington and the predictions by Donald Trump that the Obamacare would collapse. According to Deep Benerjee who works for the Standard & Poor’s as an analyst, he notes that the market is quite new and players are trying to adjust. This might be the reason behind the current improvement. One thing has emerged during the whole debate about the Obamacare. Most of the players have remained silent watching the turn of events.

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