Anyone who was honest and not stupid knew that Obamacare prices would skyrocket, so naturally politicians imposed it on us.
Do you think health care costs are unaffordable under the (heh) Affordable Health Care Act? Well… medical insurance premiums under Obamacare are going up an additional thirty to fifty percent in 2016.
Yes, really!—thirty to fifty percent in some places.
Here’s the news from Politico.com: “Experts see big price hikes for Obamacare.”
The cost of Obamacare could rise for millions of Americans next year, with one insurer proposing a 50 percent hike in premiums, fueling the controversy about just how “affordable” the Affordable Care Act really is.
The eye-popping 50 percent hike by New Mexico insurer Blue Cross Blue Shield is an outlier, and state officials may not allow it to go through. But health insurance experts are predicting that premiums will rise more significantly in 2016 than in the first two years of Obamacare exchange coverage. In 2015, for example, premiums increased by an average of 5.4 percent, according to PwC’s Health Research Institute.
The premium increases come at a tenuous time for Obamacare, which remains under fire from a Republican Congress that wants to repeal the law, while a Supreme Court ruling on federal subsidies for the health insurance looms in June as well.
“Insurers seem to be reporting higher trend, which means they are seeing bigger increases in health care costs,” said Larry Levitt, senior vice president for special initiatives at the Kaiser Family Foundation. “But really what’s going on here is they now have data showing what the risk pool looks like. Initially in 2014 they were completely guessing about who was going to enroll and how much health care they were going to use.”
Many plans haven’t yet made public their proposed rates; Monday is the deadline for publishing and providing an explanation for rate hikes of at least 10 percent. None announced so far is as dramatic as the New Mexico plan, although a few others are also quite sharp. The Blues in Maryland and Tennessee, both with the largest market share on the exchanges in their states, are seeking increases of more than 30 percent. In Oregon, Moda Health Plan — which attracted more than 40 percent of exchange customers in 2015, despite competing against a dozen other health plans — is seeking average rate increases of 25 percent. Other plans released to date — including some in these four states — are seeking far more modest increases.
By golly gee… no one saw this coming!
The socialist and fascist war against economic reality continues, but those laws always win. Fools who believe modern politicians—of either major Party—always lose.