President Obama will be leaving office with the Affordable Care Act, his signature policy initiative, in deep peril.  An incoming Republican president and Congress, concerned with the cost of ACA exchange plans jumping by an average 25 percent next year and employee health care costs rising, have pledged to repeal the law.  For his part, the President sought to shift the blame for rising out-of-pocket cost from the ACA’s flaws to employers and insurers.  During a recent speech defending the law, he said the ACA has had no impact on the affordability of employer-provided health care benefits “except to make it a better value.”  As the President put it, “if your premium is going up, it’s not because of Obamacare.  It’s because of your employer or your insurer — even though sometimes they try to blame Obamacare for why the rates go up.  It’s not because of any policy of the Affordable Care Act that the rates are going up.”

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Oscar Insurance Corp., the Silicon Valley-backed health-care startup, continued to lose tens of millions of dollars in the third quarter as the company exits some markets and works to diversify away from of its Obamacare business.

The New York-based company sells health insurance to individuals in new markets set up by the Affordable Care Act. Its attempt to reinvent the insurance business has been marked by large losses — in the third quarter, closely held Oscar lost $45 million in New York, Texas and California, according to filings with regulators. That follows losses of $83 million in those states during the first six months of this year.

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The health insurer Cigna is planning for a loss on the Obamacare market next year, its CEO said Thursday.

“We are going to expect to see some revenue growth but we are continuing to plan for a loss,” CEO David Cordani said on the company’s third quarter earnings call.

The insurer’s strategy to slowly expand into the new marketplace created by the Affordable Care Act has “proven to be more right than wrong,” he said, noting that was unfortunate.

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Anthem Inc. said it may join other major U.S. health insurers in largely pulling out of Obamacare’s markets in 2018 if its financial results under the program don’t improve next year.

Anthem retreating from the Affordable Care Act would mean that almost all of the major American for-profit health insurers have substantially pulled back from the law. The other big insurers — UnitedHealth Group Inc., Aetna Inc. and Humana Inc. — have already scaled back, after posting massive losses. The retreats threaten to further destabilize coverage in the markets for individual coverage, known as exchanges, that provide insurance to millions of Americans.

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In July analyst Paul Westra of the brokerage firm Stifel Nicolaus warned of a looming “restaurant recession,” noting that it might be the first sign of a more widespread U.S. recession in 2017. He said this in a bearish report that downgraded 11 restaurant stocks.

The facts on the ground support his gloomy forecast. Restaurant traffic has declined 2.8% from the start of the year through September, according to the Restaurant Industry Snapshot, a survey of some 25,000 restaurants by research firm TDn2K. At this pace, the firm said, “2016 would be the weakest annual performance since 2009, when the industry was recovering from the recession.”

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In 2008, the year that Barack Obama was elected as president, the combined annual profits of America’s ten largest health insurance companies were $8 billion. Under Obamacare, the ten largest health insurers’ annual profits have risen to $15 billion. This is another fine example of the natural alliance between Big Government and Big Business, which flourishes at the expense of Main Street Americans.

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The 40% “Cadillac” Tax on expensive employer-sponsored health insurance is on a deathwatch because both parties in Congress dislike it. It would be best if Congress were to replace the Cadillac Tax with a simple and clear limitation on the tax preference for employer-paid premiums, as is called for the House GOP’s “Better Way” health plan. For decades, economists have complained that the open-ended tax break for employer-paid health insurance premiums is a major distortion in the marketplace. This approach is fair and promotes more transparency in the health care marketplace.

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Longtime ObamaCare lobbyists are soundly rejecting one of Hillary Clinton’s most prominent healthcare pitches: the public option.

Leaders of the nation’s largest hospital, pharmaceutical and insurer trade groups said on Tuesday they wouldn’t support a Clinton administration’s push for a public option without first ensuring the Obamacare marketplaces work.

“We think we need to make these [marketplaces] viable before we give any consideration of going to a public option,” Rick Pollack, president of the American Hospital Association, told a crowd at the U.S. Chamber of Commerce.

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Some health insurers say they’re paying too much to rival Blue Cross Blue Shield plans under a key pillar of the federal health law designed to compensate insurers that take on sicker and more expensive patients. The critics’ chief complaint is that the Affordable Care Act’s risk-adjustment program unfairly rewards health plans—including Blue Shield of California—that have excess administrative costs and higher premiums. That comes at the expense of more efficient, lower-priced plans in the individual market, they say.

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Obamacare is collapsing. Its utter failures become more obvious by the day. We all remember the promises of Obamacare, chief among them that the “Affordable Care Act” would lower health care costs. The opposite has occurred. Despite the offer of subsidies through the exchanges, enrollment in Obamacare has been dismal. Younger, healthier individuals have little interest in paying exorbitant premiums for insurance plans that come with $5,000 deductibles. The result has been an unbalanced insurance pool where insurers must charge ever-increasing premiums to continue offering coverage.

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