June 2, 2015

BUT WE WERE SUPPOSED TO SAVE $2,500 PER YEAR!: Brace yourself for Obamacare sticker shock.

Health insurers are proposing to raise Obamacare rates more than in the past — some by more than 70 percent — now that they are finally equipped with all the information they need to price those plans.

Plans wanting to raise rates by at least 10 percent next year posted the proposed increase online Monday, as required by the 2010 healthcare law. Insurers are allowed to raise rates each year, but they must publish significant increases ahead of time.

Insurers have sold plans in the law’s new insurance marketplaces for two years in a row. But the difference in 2016 is that for the first time, they have a full year of claims data from enrollees that tells them how high or low to set the price tag. . . .

While plans and rates vary by state, a look at rate increases published Monday on healthcare.gov shows many hovering around 10 to 30 percent in many states.

But there’s also a sprinkling of even bigger hikes. Blue Cross wants to raise its most expensive “platinum” plan in Alabama by 71 percent next year. Aetna wants to charge 59 percent more for one of its small group plans in Virginia. Time Insurance Co. is proposing a 64 percent hike for an individual plan in Georgia.

Gosh, what happened to that $2500 per year savings we were promised? Same thing that happened to the “if you like your plan/doctor, you can keep it/him.”  I think we need trigger warnings for all Obamacare-related news items, since it inevitably causes painful flashbacks of these promises.  It’s like intellectual rape over and over again. 

InstaPundit is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com.