#1 Moody’s Downgrades Health Insurers Outlook To Negative Because of Obamacare
01-24-2014, 03:01 AM
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- Jun 2008
Moody’s Downgrades Health Insurers Outlook To Negative Because of Obamacare
Insurers downgraded on ObamaCare fears
Moody’s announced Thursday it was downgrading its outlook for health insurers from stable to negative based on uncertainty related to ObamaCare.
The credit rating agency cited an unstable environment because of the healthcare law’s difficult rollout, and projected that insurers would earn 2 percent less than forecast in 2014.
“While we’ve had industry risks from regulatory changes on our radar for a while, the ongoing unstable and evolving environment is a key factor for our outlook change,” Moody’s Senior Vice President Stephen Zaharuk said in a statement. “The past few months have seen new regulations and announcements that impose operational changes well after product and pricing decisions were finalized.”
The Moody’s report also cites the slow enrollment of young people into ObamaCare as a reason for the downgrade.
“Uncertainty over the demographics of those enrolling in individual products through the exchanges is a key factor in Moody’s outlook change,” the ratings agency said.
01-24-2014, 09:34 AM
Activate Obama Revenge Squad...May the FORCE be with you!
01-24-2014, 09:46 AM
Obama and his economic idiots have long overlooked the economic havoc their hair-brained plans would wreak. It's easy for the libtards to rant about the evil insurance companies, but I think they forget how many people are employed by the evil insurance companies.
Wait, they don't care. There will just be more people to become dependent on the government.
I remember years ago when Mrs Clinton, that other great economist, said to a group of insurance people when she was trying to push her own healthcare takeover, "You look like intelligent people. You can find jobs elsewhere." I heard this because my ex was very involved with that industry. Many in that industry were boring, but very hard-working folks who studied for many years to earn their various designations, their "alphabet soup" of degrees and accreditations, such as CLU, CFP, and on and on. From way back they distrusted the government and how it could ruin their industry. The good ones weren't like sleazy sales reps, but were a dedicated group. I know it's easier to demonize them, but we've had enough demonizing from the Obama minions.
We've become a nation of folks whose livelihood is dashed by the community organizer. He's never had an actual "job", so doesn't seem to understand anything but the Saul Alinsky school of disruption. I hope the voters aren't buying this junk in 2014 and 2016.
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