As Obama Spikes The ObamaCare Football, Americans Face Skyrocketing Premiums And Costs

Health Insurers Are Expecting Higher Premiums In 2015, Putting Them At Odds With The Obama Administration. “As the first ObamaCare enrollment period comes to a close, U.S. insurers are already anticipating the need to raise prices for 2015 and fear that it will put them at the center of the political blame game over President Barack Obama’s health care law.” (Caroline Humer and David Morgan, “U.S. Insurers Fear Backlash Over New ObamaCare Rate Increases,” Reuters, 4/2/14)

Many Insurers Anticipate Double-Digit Increase In Premiums As New ObamaCare Enrollees Have Skewed Older And Costlier. “But insurers have already said that the first group of new enrollees under Obamacare, as the law is widely known, represent a higher rate of older and costlier members than hoped. To keep their health plans from losing money in the coming years, many expect monthly premium rates to rise by double-digit percentages in some parts of the country.” (Caroline Humer and David Morgan, “U.S. Insurers Fear Backlash Over New ObamaCare Rate Increases,” Reuters, 4/2/14)

  • Chet Burrell Of CareFirst BlueCross BlueShield: “I Do Think That It’s Likely Premium Rate Shocks Are Coming.” “‘I do think that it’s likely premium rate shocks are coming. I think they begin to make themselves at least partially known in 2015 and fully known in 2016,’ said Chet Burrell, chief executive officer of CareFirst BlueCross BlueShield. ‘That will be different in different parts of the country. I don’t think it will be uniformly the same.’” (Caroline Humer and David Morgan, “U.S. Insurers Fear Backlash Over New ObamaCare Rate Increases,” Reuters, 4/2/14)

Some People Will Face Triple Digit Premium Increases

In Iowa, “Rates Are Expected To Rise 100 Percent” On The ObamaCare Exchange While Employer Sponsored Coverage Rates Are Set To Double.  “In Iowa, which hosts the first presidential caucus in the nation and has a competitive Senate race this year, rates are expected to rise 100 percent on the exchange and by double digits on the larger, employer-based market, according to a recent article in the Business Record.”(Elise Viebeck, “O-Care Premiums About To Skyrocket,” The Hill’s Health Watch, 3/19/14)

  • The Official Expects Rates At His Company To Triple On The ObamaCare Exchange. “The insurance official, who hails from a populous swing state, said his company expects to triple its rates next year on the ObamaCare exchange.” (Elise Viebeck, “O-Care Premiums About To Skyrocket,” The Hill’s Health Watch, 3/19/14)

Millions Of People Will Be Hit With Higher Costs

“Areas Of The Country With Older, Sicker Or Smaller Populations Are Likely To Be Hit Hardest …” “Areas of the country with older, sicker or smaller populations are likely to be hit hardest, while others might not see substantial increases at all.”(Elise Viebeck, “O-Care Premiums About To Skyrocket,” The Hill’s Health Watch, 3/19/14)

For The Millions Of People That Have Had Their Health Plans Cancelled By ObamaCare, Health Plans Carry Higher Premiums Under The Law. “At the same time, several million Americans who were already insured under the individual market faced the cancellation of their policies this year, creating a political firestorm for Obama, who had promised that consumers who liked their existing plans could keep them. Many of them found the new ObamaCare health plans, which require insurers to cover more benefits, were more expensive than their old policies.” (Caroline Humer and David Morgan, “U.S. Insurers Fear Backlash Over New ObamaCare Rate Increases,” Reuters, 4/2/14)