Thursday, May 28, 2015

NY Obamacare Premiums Up Another 25%?

Just last week we learned that insurers were just now able to peer underneath the hood of Obamacare and tally up their costs in order to set rates for 2016.  All signs point to bad mojo for Dear Leader's signature "achievement"...
Now that insurers have had more time to look at the claims coming in from those enrolling from Obamacare, they're finding that the pool of customers is older and sicker than originally projected, driving up medical costs. Meanwhile, federal help isn't what they anticipated.
CareFirst BlueCross BlueShield, the largest health insurer in Maryland, proposed an average increase of 30.4 percent for 2016 (with a range of 19.3 percent to 45.7 percent).
A similar story is playing out among insurers who have filed rate proposals throughout the country. BlueCross BlueShield of Tennessee asked for an average increase of 36.3 percent. In South Dakota, Wellmark proposed a 42.9 percent average increase.
Here in New York, we've had all the bad features of ObamaCare for many many years, well before the Lightworker brought the Light, so our premiums were expensive to begin with.  When Obamacare hit we were not spared at all.

Well, my proposed renewal rates just came in the mail and my premiums for my small business are going up 24%.  That'll be roughly 75% in three years.  At this rate, Obamacare is going to fall in on itself like the poorly constructed edifice that it is.


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