Many people including myself had predicted healthcare insurance rates to climb higher than they did in 2014 and 2015. Obamacare supporters have used the lower increases to defend our national socialist medical program.
However, that defense is about to take a major hit.
A growing number of major healthcare insurance carriers have started filing requests for 2016 rate hikes with their state insurance departments. A number of those rate hike requests will not only silence many Obamacare defenders, they will indicate just how unaffordable the Affordable Care Act has become.
One report stated:
“BlueCross BlueShield of Tennessee . . . said it lost $141 million from exchange-sold plans, stemming largely from a small number of sick enrollees. ‘Our filing is planned to allow us to operate on at least a break-even basis for these plans, meaning that the rate would cover only medical services and expenses—with no profit margin for 2016,’ said spokeswoman Mary Danielson.”
Similar losses have prompted some carriers to request huge increases. CareFirst BlueCross BlueShield in Maryland has requested increases of 30.4% on average over current premium rates. Let’s put that into perspective. A family paying $300 a month could see their premiums jump up to $391.20 a month. That’s an annual increase of $1,094.40.