This is a privately held diversified financial service and insurance company (American Enterprise Group) who’s CEO has admitted that their health insurance business has nevre been profitable.
For him to close the doors and then blame it on the Affordable Care Act smacks of sour grapes. His argument is that the ACA puts limits on the companie’s loss ratio – in other words, if your loss ratio is really low, and you are really profitable, that means you are charging too much in premium. That provision aims to force PROFITABLE insurers to lower their premiums.
But his company hasn’t been profitable! So his excuse, blame it on the ACA, is just that – an excuse.
This is a privately held diversified financial service and insurance company (American Enterprise Group) who’s CEO has admitted that their health insurance business has nevre been profitable.
For him to close the doors and then blame it on the Affordable Care Act smacks of sour grapes. His argument is that the ACA puts limits on the companie’s loss ratio – in other words, if your loss ratio is really low, and you are really profitable, that means you are charging too much in premium. That provision aims to force PROFITABLE insurers to lower their premiums.
But his company hasn’t been profitable! So his excuse, blame it on the ACA, is just that – an excuse.