[NM] Blue Cross seeking 51 percent premium hike (Obamacare cost fallout)

The Albuquerque Journal ^ | May 28, 2015 | Jessica Dyer

[CedarDave]

Citing higher-than-expected costs, Blue Cross and Blue Shield of New Mexico wants to raise premiums by an average of 51.6 percent on individual Affordable Care Act plans in 2016.

The company made the request in a preliminary rate proposal filed with New Mexico Insurance Superintendent John Franchini. Blue Cross and Blue Shield – which insures an estimated 600,000 people statewide – said the proposal affects an estimated 35,000 customers who signed up for qualified individual health plans through the New Mexico Health Insurance Exchange, but also those who bought the same plans off the exchange.

Franchini has the final authority to approve or not approve Blue Cross and Blue Shield’s request.

Kurt Shipley, president of Blue Cross and Blue Shield of New Mexico, told the Journal this week the requested increase reflects the real costs of coverage rather than the projections the company used when setting initial rates. He said those who bought the individual plans tended to be older and in poorer health than expected. Others came to the company having not previously had health coverage.

He said Blue Cross and Blue Shield lost money on such plans in 2014 and in 2015, but he would not provide an exact figure. Shipley did say “we’ve seen some very large and significant claims with this block of business.”

The size of Blue Cross and Blue Shield’s requested increase has made national news. The Wall Street Journal last week highlighted it in a story about the large increases insurers want for plans they sell under the federal health law.

[CedarDave]

Rush talking this morning about Obamacare problems including NY State's effort to establish a single-payer system for all citizens in that state. Says that a single-payer system was the unstated goal of Democrats who have been pushing this since Hillary-care in the Clinton administration.

[cuban leaf]

I’ve saved a TON on health care insurance costs since Obamacare went into effect in Jan of 2014. That’s when I cancelled all health care insurance.

[stars & stripes forever]

Health Share Alternative: Samaritan Minstries.

http://samaritanministries.org/

[YouGoTexasGirl]

When Obamacare began our monthly premiums were around $460 per month and today they are $1,036...for a $5K deductible with BCBS. We are investigating going with some of the Christian ones that have been in business for over 50 years and want about $300/month!!! Of course it is more work when you have a claim but overall will save money.

Obamacare providing less expensive coverage for those with preexisting conditions that have to be covered by insurance companies will break a business and is doing so faster than expected. Also, it gives no one the determination to be healthy as insurance did before Obamacare. Stupid is as stupid does.

[GOPJ]

The poor wanted health care.

Obama thought the poor said 'health insurance'... Health insurance from companies that will donate BIG TIME to democrats.

Simple mistake...

the kind made in corrupt hellholes daily...

[navyguy]

Obama Promises To Lower Health Insurance Premiums by $2,500 Per Year:

https://www.youtube.com/watch?v=_o65vMUk5so

[GOPJ]

The poor wanted "health care".

Obama thought the poor said 'health insurance'... Health insurance from companies that will donate BIG TIME to democrats.

Simple mistake...

the kind made in corrupt hellholes daily...

[fatnotlazy]

Hope you have the resources should major illness strike. There was a story a week or two ago about a guy who refused to buy insurance when he was healthy, but now he has a major illness and there is a gofundme account set up to help with his bills.

I can understand not wanting the hassle of health insurance, but if you are going to forego insurance, you had better have lots of dough.

[al_c]

Then expect the same or similar in Texas, Oklahoma, Illinois and Montana … they’re all under the same company - Health Care Service Corp.

[cuban leaf]

Hope you have the resources should major illness strike.

---

Me too. Good news is that it’s kinda like life insurance. You’re betting you are going to die and the company is betting you are going to live. Actuarials are on their side. i.e. the odds are in my favor.

If I get REALLY sick, I die. I’m 61 and trust the Lord to take me in His good time. I take the words of Paul very seriously:

“For me, to live is Christ and to die is gain.”

[CedarDave]

NM list PING!

I may not PING for all New Mexico articles. To see New Mexico articles by topic click here: New Mexico Topics

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[cuban leaf]

I can understand not wanting the hassle of health insurance, but if you are going to forego insurance, you had better have lots of dough.

---

It’s not the hassle. It’s the cost. If I bought health insurance it would cost more per month than my mortgage and both my car payments.

It’s not worth it. And life is VERY temporary.

[cuban leaf]

I can understand not wanting the hassle of health insurance, but if you are going to forego insurance, you had better have lots of dough.

---

I should also point out that health care is a LOT cheaper when you are paying out of pocket, between 60% and 90% cheaper in most cases. A lot of friends and acquaintances have discovered this first hand, as have we.

[Flick Lives]

This is a B.S. kabuki dance between big insurance and big government.
Big insurance asks for a 50% increase in premiums.
Big government responds, “that’s an outrage!”.
Big insurance claims it’s going broke.
Big government gives the insurance company a 20% increase. “See, we’re protecting the people from the evil insurance companies!”.
Big insurance cuts a nice fat campaign check for said politician.
Win for the politician, win for the insurance company. Well, 2 out of 3 ain’t bad.

[Qiviut]

If you haven’t seen this already, it’s a great resource - list of HealthCare Sharing Organizations toward the bottom when you scroll down.

http://selfpaypatient.com/selfpayhealthcaremarket/

A relative of mine is saving at least $15K a year using a sharing organization & is exempt from the Obamacare penalty for no insurance. So far, it’s working great for them - he’s getting 40-50% off bills like office visits immediately due to the doctors not having to jump through insurance hoops.

Another article on this site on how to save when you are self-pay and go to the ER:

http://theselfpaypatient.com/2013/09/25/how-to-save-money-as-a-self-pay-patient-in-the-emergency-room/

[Mr. K]

me too

i saved $12,000 for the last few years

I told my kids if I get sick just shovel me into a hole in the back yard. I would rather they inherit the house than the medical bills.

[choctaw man]

I moved OUT of NM two years ago. Beautiful state; no water; extremely high cost of living there.

[servantboy777]

Couple of folks we know lost their company supplied insurance policies and went out to research Obozo-care.

Good grief! The premiums along with the 10K deductible made it completely unaffordable.

A family with a couple of kids would shell out almost 17 thousand bucks before they’d see any benefit at all.

What a fiasco this has been. Thanx to our new republican senate and larger republican house...we still have Obozo-care.

[bgill]

You can keep your cheap rates if you want them.

[musicman]

"[NM] Blue Cross seeking
51 percent premium hike
(Obamacare cost fallout)"



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