From The Hill: The credit rating agency cited an unstable environment because of the healthcare law’s difficult rollout, and projected that insurers would earn 2 percent less than forecast in 2014.
The Moody’s report also cites the slow enrollment of young people into ObamaCare as a reason for the downgrade.
“Uncertainty over the demographics of those enrolling in individual products through the exchanges is a key factor in Moody’s outlook change,” the ratings agency said.
Citing statistics released by the administration, it noted that so far about 24 percent of enrollees are between the ages of 18 and 34, while a target of 40 percent may be necessary to keep premiums from rising in the future.
It said the 24 percent of young people enrolled so far is “well short” of the 40 percent target.
Moody’s also said it was worried that insurers’ premium calculations might not be enough to cover the industry assessment tax that begins in 2014. . . . . . .
Read more: http://thehill.com/blogs/healthwatch/health-reform-implementation/196203-moodys-downgrades-health-insurers-over#ixzz2rKDQSj6N____________________________
Updated for additional comments: Add to this act of intimidation, the attacks on (even) the liberal media at the AP and the secret readings of reporters emails in the Administration's search for "sources" and "whistleblowers" against the Administration. Make note and add to the above, the 7 official leaks investigations, the most of any president in our history. Let's not forget the IRS Targeting Scandal that is ongoing without fear of GOP opposition - a "scandal" because it targets political opposition almost to the exclusion of friends of this Administration (360 conservative groups targeted versus 6 liberal groups). Throw in the DOJ's (Eric Holder and Barack Hussein Obama's DOJ) decision to join a prosecution of Chris Christie and the GOP (!) in the traffic/bridge fiasco along with DOJ's persecution of Gov McConnell and his wife. With all of this and more, we have a clear view of the revenge/vindictive policies of the current "hate the white man" Administration (make note that ALL individuals and groups being harassed or prosecuted are GOP oriented and white constituencies to the exclusion of all other concerns or ethnicities).
And, I am forgetting the arrest of Dinesh D'Souza, author of the book and movie, 2016: Obama's America, the shameful and continued imprisonment of the Arab film-maker who made the 15 minute video the Administration falsely used to explain the Benghazi Four murders, and the most recent IRS investigation of a conservative Hollywood group refusing to expose some of their financial sources.
Related Articles:
Moody's downgrades health insurers, citing Obamacare ... Washington Examiner
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Oh My: Moody's Downgrades Insurers, Citing Obamacare ... - Townhall
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We have never seen this level revenge oriented activity in an administration, in my memory. I mean, off the top of my head, we have Obama going after his own media, punishing S&P, as you state in your post. and using the IRS to continue to punish conservatives. I always believed we agreed on the major issues like free religious expression and especially, freedom of speech. This administration simply does not believe in either freedom if it does not serve their purpose.
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