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15 Feb ’12
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this is insanity, where the hell is the affordable part in the affordable care act?!?
You may have heard that insurers are hiking Obamacare premiums by 30%, 40% or even more next year.
Certainly, some companies have requested hefty rate increases for certain policies. But that doesn't mean that everyone will be writing a much bigger monthly check to their insurer.
The benchmark silver plan premiums are projected to rise 10% for 2017, on average, according to a new Kaiser Family Foundation report that looked at insurers' proposed rate increases for a 40-year-old consumer in 14 major cities. That's double the 5% increase for 2016 policies, but it could change since state regulators often reduce insurers' rate requests.
The average figure, however, belies the wide range of requested premium increases in different cities. For instance, in Providence, Rhode Island, the benchmark plan would cost $229 a month, down 13% from this year. But in Portland, Oregon, it would cost $308, or 18% more.
Related: Obamacare premiums in California may rise 8% next year
The pricing of the benchmark plan -- the second lowest cost silver policy in an area -- is important because it is one of the most popular choices and federal subsidies are based on it. Enrollees who qualify for subsidies and pick the benchmark plan don't feel the impact of the rate hikes since the federal payments cover all but 9.66% of the cost. Some 82% of enrollees received subsidies last year.
21 Feb ’12
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and the corporate mandate hasn't even kicked in yet...
4 Mar ’12
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forced expensive health care. maybe that should be the new name for it.
We can call it F.E.H.C.
🙂
The following users say thank you to farmboy2 for this useful post:
DangerDuke15 Feb ’12
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I like that name better!
15 Feb ’12
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so, Insurers can pull out of the program but citizens can't
Minnesota's largest health insurer, Blue Cross and Blue Shield of Minnesota, has decided to stop selling health plans to individuals and families in Minnesota starting next year.
The insurance carrier's parent company, which goes by the same name, will continue to sell a much more limited offering on the individual market through its Blue Plus HMO.
The insurer explained extraordinary financial losses drove the decision.
"Based on current medical claim trends, Blue Cross is projecting a total loss of more than $500 million in the individual [health plan] segment over three years," BCBSM said in a statement.
The Blues reported a loss of $265 million on insurance operations from individual market plans in 2015. The insurer said claims for medical care far exceeded premium revenue for those plans.
"The individual market remains in transition and we look forward to working toward a more stable path with policy leaders here in Minnesota and at the national level," the company stated. "Shifts and changes in health plan participation and market segments have contributed to a volatile individual market, where costs and prices have been escalating at unprecedented levels."
The decision will have far-reaching implications.
Blue Cross and Blue Shield says the change will affect about, "103,000 Minnesotans [who] have purchased Blue Cross coverage on their own, through an agent or broker, or on MNsure."
more http://www.mprnews.org/story/2016/06/24/blue-cross-blue-shield-individual-insurance-market
21 Feb ’12
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Yeah, this failure is going to be what the progressives use to push for single payer. Instead of recognizing that the idea is broken, they're going to double down and claim that the ACA didn't go far enough.
Mark my words, you heard it here first.
19 Feb ’12
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DangerDuke said
Yeah, this failure is going to be what the progressives use to push for single payer. Instead of recognizing that the idea is broken, they're going to double down and claim that the ACA didn't go far enough.
Mark my words, you heard it here first.
I thought that most opponents for the ACA thought that a single payer system is what was needed.
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