OH: Obamacare to Increase Premiums 88%
Posted in the Columbus Forum
“animis opibusque parati”
Since: Oct 12
#1 Jun 10, 2013
by Avik Roy,@ For bes
Democrats continue to try to dismiss the evidence that Obamacare will dramatically increase the cost of insurance for people who buy it on their own. But on Thursday, the Ohio Department of Insurance announced that, based on the rates submitted by insurers to date, the average individual-market health insurance premium in 2014 will come in around $420,“representing an increase of 88 percent” relative to 2013.“We have warned of these increases,” said Lt. Gov. Mary Taylor in a statement.“Consumers will have fewer choices and pay much higher premiums for their health insurance starting in 2014.”
The rates that Ohio reported are proposed rates; the Department of Insurance still has to formally approve them.“A total of 14 companies proposed rates for 214 plans to the Department. Projected costs from the companies for providing coverage for the required [by Obamacare] essential health benefits ranged from $282.51 to $577.40 for individual health insurance plans.”
It’s called “rate shock,” but it’s not shocking to people who understand the economics of health insurance. In August 2011, Milliman, one of the nation’s leading actuarial firms, predicted that Obamacare would increase individual-market premiums in Ohio by 55 to 85 percent. This past March, the Society of Actuaries projected that the law would increase premiums in that market by 81 percent. Like good players on “The Price is Right,” they both came in just under the Dept. of Insurance’s figure....
[read the rest...and save that Obama "change"....]
#3 Jun 11, 2013
This is what happens when you elect a President based on the principles of affirmative action and White Guilt.
We have mindless change and Dictatorship like Haiti and Cuba based more and more on Communism and an authoritarian and totalitarian government that abuses its "enemies."
We had to pass this law before we knew what was in it and now we will pay dearly.
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