Obamacare Collapse–Two More Major Companies Leaving WA Exchange

According to new data released by Kaiser Foundation Health Plan and the Community Health Plan of Washington, as well as legislative officials in Olympia, Healthplan options for Washington residents just took another major blow.

Senator Joe Schmick, the ranking Republican on the Senate Healthcare and Wellness Committe, said Friday the withdrawal of these two companies from the Healthcare Exchange (Obamacare) will now strip even more options for consumers.

The Office of the Insurance Commissioner 'quietly' announced earlier this week the two companies are making significant changes. Community Health Plan (CHP) is leaving, and Kaiser Foundation Health Plan (KFHP) will no longer offer the popular Preferred Provider Option (PPO) in the individual market for next year. With Obamacare, you can insure as a family or individual.

Schmick says this will impact at least 8,500 more Washington residents. He also reports that despite rosy enrollment pictures from the Healthcare Exchange, the opposite is actually happening. With the withdrawal of CHP and KFHP, 18 counties will only offer 2 plans, these include Lincoln and Adams. 16 counties will now have only ONE healthcare plan option for individuals, this list also includes Lincoln and Adams.

Aetna recently announced it too was leaving the Healthcare Exchange. Although Schmick says these issues are not directly related to the Congressional passage of a new Obamacare bill and all the debate, now that the Obama Administration is out of office, dozens of companies are fleeing exchanges all across the country.

He says it's an indictment as to how flawed and overpriced the plan was, and how meaningful overhaul of the system is needed.  Many of the companies have realized there will be significant changes, and they are jumping ship ahead of time so they won't be economically 'dragged down' by the failing health care plan.