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/
Nothing more than a money grab by greedy insurers.
10:24 really?
Maybe the entire premise(lie)for this law was flawed.
Healthy young people would pay premiums on policies they don’t need to support those who won’t or don’t pay their fair share for policies that are bloated with progressive agenda items like birth control and abortion.
The government is the bigger problem in this case and is by far the biggest obstacle to economic recovery.
That is what they said last year. Scare tactics
either you don’t have insurance or you work government
The law may be flawed or not
, perhaps you can tell me why my insurance was going up 20 to 25% per year if not greed.
Greed. The favorite word these days for progressives. You don’t seem to be all that bright. The first thing I would have done is to call the insurance company and ask them why it has gone up so much rather than simply accepting it and believing it was all down to greed.
I pay dearly for private insurance through my employer.
The Affordable Care Act insures 7 million people, many get government subsidies. Insurance is not free but what is the alternative, being uninsured?
buying insurance
The reason insurance rates are going through the roof is because the Government has destroyed the free market system for instance through the implementation of a flawed and burdensome law.