Posted on 06/08/2015 1:29:25 PM PDT by Oldeconomybuyer
Big premium increases that Minnesota insurers proposed last week reflect losses they’ve been taking in a part of the market targeted by the federal health law.
Insurers say they collectively lost more than $300 million on policies for individuals who buy coverage on their own last year because subscribers had more costly health problems than expected.
Blue Cross and Blue Shield of Minnesota, which is the largest insurer in the individual market, announced proposed average increases of 54 percent and 55 percent.
Blue Cross says it lost $135 million in the individual market during 2014.
“When there are losses that are in excess of 30 percent of total revenues, we have a problem,” said Jim Schowalter, the group’s executive director.
(Excerpt) Read more at startribune.com ...
Massive Price Increases are the “volatility”, not the “0bamacare”.
And Obama said just today there are no obamacare horror stories, because obamacare is working as intended.......
Funny, we didn’t see this sort of ‘volatility’ before Obama became president.
Why is that?
Doesn’t “volatility” imply that it could also go down?
Prices are going up because young people (18-34 years old), who either don't need or want Obamacare, are not signing up at the rate necessary to support all the people over 55 years of age that are signing up.
I'm sure this will be blamed on the greedy insurance companies and the solution will be single payer healthcare.
got it, when prices went up before obamacare, it was because health care system was broken
now when prices go up, its “volatile”.
right.
There isn’t a health care ‘market’ if they mean free market. How can you call it a market where government bureaucrats regulate monopoly participants to force you to buy?
It’s Democratcare or Hillarycare going forward.
I see the Star & Tribune comments are full of fools/paid commenters supporting the incredibly destructive obamacare.
Depends on what your intentions are ;)
Yeeah, volatility that’s it, yeeah, that’s the ticket. Now on to my date with Morgan Fairchild, yeeah!
The Red Star-Trib will blame this on everything but Obongocare.
and it’s insurance not healthcare. big differnece.
Funny how trying to “insure” for pre-existing conditions will make an insurance company lose its ass.
Liberal = idiot. Now and forever.
Exactly. Stop looking at insurance and instead look at access. Access is blocked by all kinds of government policy that discourage competition and a market response.
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