Insurers say they are losing money on ObamaCare exchanges
The insurance industry says it is losing billions of dollars on ObamaCare’s online insurance exchanges, a blow to President Barack Obama’s signature healthcare law that is being blamed for creating a shortage of healthcare-related software.
Key points:The insurance industry is blaming the ObamaCare exchange for the problems that have plagued online enrollmentThe software that is used to sign up people for ObamaCare is also being blamedInsurers say there is not enough data to assess whether the software is working correctly or if the online insurance marketplaces are performing correctlyInsurers are calling on Obama to fix the problemsThe White House has not responded to the industry’s complaints.
Insurers said they are not able to estimate how much money they lost to the ObamaCare exchanges as a result of the software glitches.
Insurance industry spokesman Brian Balsillie said that the insurance industry “has been working diligently with the Administration to identify and fix the issues impacting the online enrollment process.”
The online insurance marketplace is being run by the HealthCare.gov website, which has been beset by software problems and problems with enrollment since the ObamaCare website launched on Oct. 1.
The website has struggled to maintain a steady flow of customers as it has been plagued by issues with how to make the process more convenient for consumers.
Many Americans have been able to sign into the site and register for health insurance coverage, but it has not been easy.
The Obama administration said that there were problems with the online system that are causing some problems with sign-ups.
More than half of those who have signed up for coverage in the federal marketplace have experienced problems signing up.
The government says that the problems are a result, in part, of the ObamaCare system, which requires that all people sign up for insurance on a federal website.
Many consumers have had to wait months for a new plan to be sent to them, or the online marketplace itself, to get an initial quote from the company that created it.