The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Ridgewood NJ, acting Attorney General Andrew J. Bruck and Insurance Fraud Prosecutor Tracy M. Thompson today announced the launch of a media campaign urging New Jerseyans to be on alert for and report insurance fraud. The goal of the campaign is to educate, empower and encourage residents across the state to report insurance fraud on the website of the Office of the Insurance Fraud Prosecutor (OIFP) and to become familiar with common insurance fraud schemes.
by CHRISS W. STREET25 May 2015
Major insurers in some states are proposing up to 51 percentpremium increases for health plans sold under the Affordable Healthcare and Patient Protection Act, commonly referred to as Obamacare. Despite single digit increases for 2015, insurance companies are seeing their costs jump and are demanding to be compensated with dramatically higher rates.
When Insurance plans proposed 2015 rates last summer, they had only a little information about the health of the new customers they expected to sign up during the fall Obamacare expansion. Big insurers tended to ask for increases of less than 10%, while some smaller insurers tried to under-cut pricing by the major’s to take market share, according to theWall Street Journal.
Under Obamacare, insurers must file proposed premium rates with their local state regulator and the federal government by June. But some states have already started publicly disclosing the premium requests. Due to the high utilization costs from people newly enrolled under Obamacare, the 2016 insurance premiums are about to skyrocket.
According to states that have released rate requests, New Mexico’s market leader Health Care Service Corp. is asking for an average premium spike of 51.6 percent; Tennessee’s top insurer BlueCross BlueShield of Tennessee wants an average spike of 36.3%; Maryland’s market leader CareFirst BlueCross BlueShield is requesting an average spike of 30.4%; and Oregon’s top insurer, Moda Health, is seeking a 25% spike.
https://www.breitbart.com/big-government/2015/05/25/obamacare-insurance-premiums-to-jump-up-to-51/
