Health Insurance companies are through in evaluating the risks associated with business ventures. The actuarial tables are not just a tool in measuring risk/loss or the potential of profits; it is the ultimate yardstick for success. With so many predictive tools health insurance companies are inordinately capable of projecting trends and more importantly results to a boardroom driven by unforgiving directors looking for accuracy in quarterly and yearly profit and loss projections. You may ask why I’m dwelling on health insurance measurements of accuracy and I would say because they are the antithesis of the U.S. Governments current administration.
Given the accuracy of health insurance company’s financial projections for profit and loss and our current administrations inaccuracies I am calling for a public financial report [as much as is allowed by corporate practices] from all health insurance companies participating in the ACA program. I want to know what they project for 2014 sign ups, the mix of young [18-26] verse other age groups, payments made and most importantly projections for insurance costs in 2015. I want all the research sources they use to be made public for independent evaluation.
I would also like our current administration to provide us with the number of people on Medicaid and the number of people who weren’t insured before the ACA compared to the number now insured for the first time. Finally I would like to know how many dollars are [as provided in the ACA bill] going to the health insurance companies to cover the short fall of projected profits.