ObamaCare Clusterfuck: Wellpoint cashes in from the law its Flexian VP, Liz Fowler, wrote
You remember Liz Fowler, right? The Flexian who crafted ObamaCare for Max Baucus while on secondment from her "real" job as a Wellpoint VP, and who then went on to the White House, and then went on to cash in as a Big Pharma lobbyist? Of course you do. And as it turns out -- hold onto your hats, folks! -- she did very well for Wellpoint when she'd parked herself on The Hill:
No health insurance company has aligned itself with Obamacare as closely as WellPoint. The nation's second-largest health insurer opted to participate in the health insurance exchange for every state where it operated. WellPoint's stock scored huge gains in 2013, climbing 51%.
Did the Obamacare connection help make WellPoint a big winner? Yes -- and no. The company's participation in those state exchanges hasn't made much difference so far. Obamacare enrollment has been far behind projections.
However, another facet of Obamacare has helped WellPoint. As a result of the health reform legislation, several states have expanded their Medicaid programs. Those states include California and New York, both of which happen to be [oh ha ha ha!!!!] states where WellPoint does business. Medicaid enrollment stands out as one of the few bright spots for Obamacare thus far. WellPoint, with the largest Medicaid membership of any major insurer, is poised to be a big beneficiary.
A brilliant corporate move. You can see Fowler working out strategy with her C-suite buddies: "What can they possibly not fuck up? Yeah, Medicaid! It already works! They don't have to build a website or anything!" And Wellpoint would have had every opportunity to become intimately familiar with Administration foibles; that's what's so great about being a Flexian!
How much you want to bet that when ObamaCare is "tweaked," Fowler will be right there at the table, wearing one Flexian hat, or another, or possibly several!~