Health Insurance CEO Assures Us: Rates Might Not Rise as High as 20 Percent!

We have already received a taste of what is to come from the insurance providers in Maryland. Rates are getting ready to skyrocket.

Now a CEO is confirming that the rates will be high. According to the Daily Caller:

Top health insurance company Aetna will ask for Obamacare premium hikes of generally less than 20 percent, CEO Mark Bertolini said Wednesday.

Bertolini spoke at a Goldman Sachs health care conference in Los Angeles, but did not specify what percentage rates would climb, Reuters reports. It seems that the average Aetna Obamacare customer will have some level of double-digit rate hike.

Bertolini said that Aetna customers are regularly disenrolling from their Obamacare coverage, but that Aetna projects that it will have 450,000 exchange customers at the end of the year. He suspects that customers are dropping their Obamacare coverage due to high out-of-pocket costs.

Aetna has repeatedly warned that Obamacare regulations would cause large rate hikes since the health care law went into action.

What is rather frightening about Bertolini’s prediction is that it is different than the one he made earlier. Back in December he said that rates might climb one hundred percent! Lower than twenty percent is good news, but what has changed the math? At the time he declared, “We’ve done all that math. We’ve shared it with all the regulators. We’ve shared it with all the people in Washington that need to see it. And I think it’s a big concern.”

Was Bertolini strategizing, thinking that if we heard “100 percent” first then we would accept 20 percent without much fuss? Or is he now going low due to Administration pressure and the promise of a bailout?

The bottom line is we are being ripped apart by an expensive, incompetent scheme that is still being treated in the media as if it were a working healthcare delivery system. The pile of manure needs to be flushed out of the American economy.