mishtalk.com / Mike “Mish” Shedlock / October 20, 2016
Obamacare premiums are skyrocketing out of sight. A jump of a mere 30% looks like a good deal compared to jumps of over 50% in six states, and 93% in New Mexico.
Congratulations are in order for those living in a handful of states whose premiums only rose 20%.
The Wall Street Journal reports Rate Increases for Health Plans Pose Serious Test for Obama’s Signature Law.
Finalized rates for big health insurance plans around the country show the magnitude of the challenge facing the Obama administration as it seeks to stabilize the insurance market under the Affordable Care Act in its remaining weeks in office.
“The situation is serious,” said Alissa Fox, senior vice president of the Office of Policy and Representation for the Blue Cross Blue Shield Association. “The reason the premiums are where they are is that the people we are covering have serious conditions and they’re using a lot of medical services because of their chronic illnesses. That’s clear. And there’s not enough young, healthy people to balance out those costs.”