Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

California exchange head blasts UnitedHealth

X
Your article was successfully shared with the contacts you provided.

Peter Lee, the executive director of Covered California, lashed out at UnitedHealth Group Inc. (NYSE:UNH) earlier this week in an interview with California Healthline.

Lee, the head of a state-based Patient Protection and Affordable Care Act (PPACA) public exchange, said UnitedHealth and other carriers are using the exchange system as a scapegoat for their own poor management skills.

The companies’ attacks are “driving me bonkers,” Lee said.

See also: California exchange chief proposes agent comp floor

“Instead of saying we screwed up, they said Obamacare is the problem and we may not play any more,” Lee said. “It was giving an excuse to Wall Street and throwing the Affordable Care Act under the bus.”

Lee said big insurers see the exchange system as a convenient excuse for reporting poor results now and are using it. The insurers’ criticism of the exchange system are “total spin and unanchored in reality.”

See also: 

3 reasons the PPACA exchange plan “blahs” could be serious

Oregon puts Moda Health under supervision


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.