Excerpted from An article by Chris Matthews (no, not that one) of Time.com:
Health insurers on many state exchanges are requesting the right to increase premiums by upwards of 50%.
President Obama\’s signature legislative achievement-the healthcare law popularly known as Obamacare-is facing a potentially existential fight in the Supreme Court in 2015.
According to a report published Friday in the The Wall Street Journal, health insurers are requesting the right in many states to increase premiums by upwards of 50%. Health Care Service Corp.-the leading health insurer in New Mexico, has asked state regulators to allow it to increase its premiums on average by 51.6%, for instance. Customers of CareFirst BlueCross BlueShield in Maryland may face an average premium increase of 30.4%.
BlueCross BlueShield of Tennessee … said it lost $141 million from exchange-sold plans, stemming largely from a small number of sick enrollees. “Our filing is planned to allow us to operate on at least a break-even basis for these plans, meaning that the rate would cover only medical services and expenses-with no profit margin for 2016,” said spokeswoman Mary Danielson.
Are you surprised? If so, you probably are one of the dwindling, but still considerable, number of people who believe anything that comes from Barack Obama or the people around him.
Will this huge rate runup finally bring reality home to you? I certainly hope so.
On the other hand, look at the bright side: if you like your current insurance plan you can keep it, and if you like your current doctor you can kee…..oh, wait.
