Skip to comments.Health care costsare going up 72% (IN)
Posted on 07/31/2013 8:16:45 AM PDT by digger48
When Indiana recently announced that individual health insurance costs in Indiana will rise 72 percent on average because of new Affordable Care Act requirements, an immediate outcry followed from some ACA supporters, who accused the Department of Insurance of misrepresenting these numbers in a deliberate attempt to mislead Hoosiers. The DOI provided a lengthy testimony about these numbers before the Indiana Health Finance Commission on July 22, and the DOI stands by its numbers. The fact remains that the Indiana individual health insurance market will see significant increases next year because of ACA.
The following is some background about how we arrived and compared our cost-increase number. First, we began with the average per member per month cost for 2012, which is based on actual filings submitted to the DOI by Indiana health insurance companies. We then compared this number to average per member per month cost for 2014 filings. After subtracting normally expected cost increases or trend costs, we arrived at a 72 percent average cost increase for 2014. This is the increase amount in insurance costs directly attributable to the ACA.
Some media outlets have highlighted costs for the absolute cheapest health plans available in Indiana in 2014 without any comparison to costs for similar plans prior to the ACA to portray the appearance of affordability. In fact, many bronze and silver plans will likely receive the sharpest percentage increases compared to similar health plans before ACA because younger and healthier Hoosiers will bear more of the cost shifting from senior and sicker Hoosiers. These younger and healthier Hoosiers are more likely to choose bronze and silver plans.
It is also important to note that these cost increases will occur regardless of who is actually paying the final bill. We acknowledge that many Hoosiers in the individual market will qualify for tax subsidies to purchase insurance in the federally run marketplace. The cost of these subsidies is not free, even to those that receive them. They will be paid in full by federal taxpayers.
ACA proponents have attacked the DOI for not including federal subsidies in our insurance cost projections, which would paint a prettier, yet unrealistic, picture of the laws costs in Indiana. This is merely an attempt to distract Hoosiers from the actual insurance costs. The regrettable fact is that health insurance costs are going up because of the ACA.
Stephen W. Robertson
Insurance commissionerof Insurance
Commissioner of Insurance
State of Indiana
If you like your doctor, you’ll get to join him as you both enter the poorhouse.
“ACA Supporters” live in a world of make believe.
When my liberal sister in law gets confronted with direct fact and common sense on why she’s wrong about healthcare or whatever, she simply says “oh, you must be mislead by that right wing Beck again”. It gets dismissed. Same with all liberals.
“When my liberal sister in law gets confronted with direct fact and common sense on why shes wrong about healthcare or whatever, she simply says oh, you must be mislead by that right wing Beck again. It gets dismissed. Same with all liberals.”
It never occurs to the dumb@sses (and yes, I’m including my own “in-laws” in that)....that they are the ones being “mislead” (lied to).
If the average citizen is not spending 1/6th of his income on health care, then the slack is being taken up by either taxes or deficit spending.
I’m spending about 20% of my wages on my BC/BS.
That’s before taxes.
I don’t know that I can keep that policy if it goes up another 25%.
At that point, I would have more disposable income left if I were on Disability and Medicaid
If you add the cost of your policy to your Medicare taxes, and that % of your income tax devoted to the HHS, then you're probably paying your "fair" share.