According to a WSJ article, “major insurers in some states are proposing hefty rate boosts for plans sold under the federal health law”. The UNAFFORDABLE care act strikes again.
- In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016.
- The biggest insurer in Tennessee, BlueCross BlueShield of Tennessee, has requested an average 36.3% increase.
- In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products.
- Moda Health, the largest insurer on the Oregon health exchange, seeks an average boost of around 25%.
- Anthem Inc., in Virginia, wants an average increase of 13.2%.
- Blue Care Network, part of Blue Cross Blue Shield of Michigan, applied for a 10% average increase.
The reason for this increase? “All of them cite high medical costs incurred by people newly enrolled under the Affordable Care Act.”
- Insurers say their proposed rates reflect the revenue they need to pay claims, now that they have had time to analyze their experience with the law’s requirement that they offer the same rates to everyone—regardless of medical history.
I call bullshit on this. Most of these newly enrolled people are healthy and young forced to buy insurance. They make the insurance money and cost nothing. What is disgusting about these increases, though, is that more and more people are being stuck with higher out-of-pocket costs due to the high deductibles. These things didn’t even exist a decade ago.
This is another example of how the insurance companies are in charge of the healthcare system. And you can’t even walk away because Obamacare made it the law of the land to be handcuffed to these greedy bastards. The article goes on to say that the states will fight these increases but it is all a game. The insurers ask for more than they want and then the state cuts a deal and brags about how they kept the insurers at bay. It’s embarrassing but you will see the headlines your local paper soon. Don’t fall for it.