♡bamaCare!!! is putting the squeeze on the Lone Star State:
“The law was never going to work. It’s actuarily unstable. Now the logical consequences are playing out,” said John Davidson, director of the Center of Health Care Policy at the market-oriented Texas Public Policy Foundation in Austin.
Premium costs for Texas’ giant Blue Cross/Blue Shield HMO are going up 18.7 percent. With 700,000 customers, the plan is one of the biggest in the state.
In 2014, the HMO collected $2.1 billion in premiums, but claims were $2.5 billion under Obamacare.
“This is the transfer cost of a mandate onto individual policyholders,” Davidson told Watchdog.org.
Meantime, Humana’s Texas HMO announced a 4 percent premium hike. But the final rate was jacked up to 23 percent when the federal Centers for Medicare and Medicaid Services required higher reserves for the 1,000-customer plan.
Other plans in the state are charting increases of 20 percent to 30 percent.
That Means It’s Working™