Skip to comments.Insurers see double-digit Obamacare price rises in many states next year
Posted on 03/21/2014 7:27:16 PM PDT by NormsRevenge
(Reuters) - U.S. consumers eligible for Obamacare health plans could see double-digit price hikes next year in states that fail to draw large numbers of enrollees for 2014, including some states that have been hostile to the healthcare law, according to insurance industry officials and analysts.
The early estimates come as insurance companies set out to design plans they intend to sell in 2015 through the state-based health insurance marketplaces that are a centerpiece of the Affordable Care Act, President Barack Obama's signature domestic policy achievement that is widely referred to as Obamacare.
WellPoint Inc, which sells plans on 14 Obamacare exchanges, expects health insurance rates nationwide to be higher. Increases for the Obamacare market that has signed up about 5 million people to date is expected to outpace those in the employer-sponsored market, which serves about 170 million people.
"Looking at the rate increases on a year-over-year basis on our exchanges, and it will vary by carrier, but all of them will probably be in double digit plus," Ken Goulet, president of WellPoint's commercial business, told investors in New York on Friday.
The cost of health insurance is already a political hot potato in this year's election campaign for control of Congress, with Republicans warning of the potential for sky-rocketing rates in their attempt to turn the ballot into a referendum on Obamacare.
Insurers have noted the difficulty of building and pricing plans for 2015, which will mark the second year of the Obamacare exchanges. Enrollment for 2014 closes on March 31, giving them very little time to review the costs of covering their new members before submitting proposed rates to insurance regulators in May and June.
(Excerpt) Read more at news.yahoo.com ...
Hey Nancy Pelosi, I got your ‘double-digits’ here!!
This, this can’t be!
0bama himself promised a $2,500 reduction. He promised...
Let me assure you, that is the least of of economic problems. We are about to ignite hyper inflation like the world has never seen. If you are in a bank account— GET OUT!! If you are in the stock market cash out immediately. This is going to be an economic earth quake.
Didn’t he also make the following promise? : “If you like your mortician, you can keep your mortician ..period!”
Pelosi says health law a winner for Dems
David Espo - AP
WASHINGTON (AP) A defiant House Democratic leader Nancy Pelosi declared firmly Thursday that the health care law looms as a political winner for her party this fall, despite ceaseless Republican attacks and palpable nervousness among some of her rank and file who fear their re-election may be in jeopardy because of it.
“We just couldn’t be prouder” of the legislation, Pelosi told a news conference where she said the law already has resulted in “better coverage, more affordable, better quality” insurance for nearly 12 million people.
When Bonor and McCornhole voted Lil Barry a blank check, ya knew it was over.
That one he may actually be able to keep.
“We just couldnt be prouder of the legislation...[Pelosi told a news conference]
Just ask any and all Dem candidates whether they agree with Ms. Pelosi. And any of them who voted for it; running as incumbents...play that audio underneath their images in the campaign ads.
Except for a very few who are getting HC they need and are paying a mere fraction of what it might have cost at one time, people hate this thing with serious passion.
I believe the case can be made that this is among the most vicious, evil attacks on the American people in history. Pearl Harbor, 9/11/01, WTC. Reports I heard about 9/11/01 claimed it caused $100 billion in economic damage and killed 3000 people.
Does anyone not think that 0care has caused $100 billion in economic damage? And that 3000 people will die from not receiving HC, if not already, then soon?
The price for health care in the US has been out of control for two generations. I disagree with the premise that the Federal Government can force individuals to buy health insurance, but I recognize that we pay far more for health care here than anywhere else and the care simply is not superior to many countries that pay far less..
To my mind the real problem, is that far to many in this country irregardless of political affiliation have absolutely no problem with expecting the tax payer to fund any procedure no matter how costly or how useless.
I hope every Rat follows her advice and runs on Obama care.
Ok miz Millie where we going then? Cash in the basement or what?
More like hyper (price) deflation.
If there were hyper (price) inflation, the stock market would be a good place to be, theoretically.
I guess you’ll be tickled pink when there are no more health insurance companies....right?? That;’s the whole end game with Obama nd the Dems....SOCIALIZED MEDICINE.....INFERIOR MEDICINE FOR ALL!!! Well, except for the powerful and wealthy.
The attorney for the plaintiff took two steps toward the hospital administrator and remarked “ so, you forced the doctor to mis diagnose the condition because your old CT/PT scanner was not sensitive enough to reveal the tumor”
“You are negligent sir, you did not have the equipment necessary to be a hospital. Your negligence will cost you $5 million “
“I can’t believe it” shouted the attorney, “you failed to care for your patients and did not spend the money from your profits for the equipment necessary to prevent their death!”
Rein in medmal and many of those increases you complain about would go bye bye.
Rein in the FDA, and the myriad other regulation and interference from government and the rest would be history.
Why would you blame them for something done by your legislators? The carriers have to follow the public policy.
The price for health care in the US has been out of control for two generations.
Just as PJ O'Rourke said: "If you think health care is expensive now, just wait until it's free" The blame for this can be placed squarely at the feet of government "MediCaid" and the complicit non-profit hospitals (cost shifting)
I disagree with the premise that the Federal Government can force individuals to buy health insurance
Good, most people do. But now they can, thank you Supreme Court.
I recognize that we pay far more for health care here than anywhere else and the care simply is not superior to many countries that pay far less.
That's a RAT talking point, and it is superior. The reason it costs more is because you're also paying for the free treatment of some parasite.
That is not a word.
No, and don’t call me Shirley.