Your ObamaCare Fail of the Day
Insurers in more states have filed their rate increase requests, and so far the numbers range from "unsettling" to "OMFGYOUREKIDDINGME."
Two weeks ago we took a brief look at Virginia and Oregon, two of the first states to make their insurers' rate request hikes public. According to ACASignUps.net, insurers in Virginia and Oregon are requesting a weighted average rate hike of nearly 18% and 27%! For those hoping these early figures were anomalies, recent rate request publications from New York, Maine, Maryland, Florida, and Washington state prove otherwise.
New York: According to the New York State Department of Financial Services, insurers in New York are requesting hikes ranging from as low as 6.1% to as high as 89.1%, with a weighted average on the individual market of 17.3%. UnitedHealth, which only covers 2% of New York's Obamacare enrollees, requested an increase of (and I hope you're sitting down for this) 45.6%!
Maine: Individual market insurance companies in Maine are requesting premium price increases predominantly ranging from 14% to 24%, with the Maine Community Health Options co-op, which insures more than 80% of the state's ACA policyholders, requesting a whopping 22.8% premium hike. National insurers Aetna and Anthem are requesting hikes of around 14%.
Maryland: Much of the same can be seen in Maryland, where the largest individual market insurer, CareFirst BlueCross BlueShield, is requesting a 12.4% hike on its HMO plan, and 16% increases on two other plans. Mind you, this is after CareFirst received a 26% increase in premiums for 2016. National insurer CIGNA is asking for nearly a 30% premium price hike, while Evergreen Health Cooperative is on the other end of the spectrum asking for just an 8.1% increase.
Florida: Based on data from Florida officials earlier this month, 15 health insurers are looking for an average premium increase of 17.7% in the Sunshine State, which is basically double what was approved by regulators last year.
Washington: Within my home state of Washington, 13 health insurers spanning 154 plans submitted average rate hike requests of 13.5%. These ranged from a low of 7.4% (Coordinated Care by Centene) to a high of 20% from Premera.
The closest thing to a bright spot is Vermont, where insurers are requesting rate hikes "merely" in excess of 8%.
That Means It's Working™