Monday, August 29, 2016

ACA/Obamacare: Dr. Strange Insurance…. Or How One Quits Worrying and Learns to Love Major Price Increases

"State insurance officials say they are feeling pressure to approve large ObamaCare premium increases to prevent more insurers losing money from dropping out of the market altogether.

Tennessee’s insurance commissioner, Julie Mix McPeak, this week announced the approval of premium hikes of 62 percent, 46 percent and 44 percent, respectively, for the three insurers on the state’s marketplace.

"She said her department’s actuaries had found the rate increases to be justified.

“I didn't feel like I had any choice but to approve those rates when it came back to be actuarially justified,” she said.

Tennessee is unlikely to be alone in authorizing premium hikes, either. In Maryland, officials are expecting a hike.

“There are going to be significant increases in the individual market,” said Al Redmer, the insurance commissioner in Maryland, where the rates are still being reviewed.

It is unclear how many other states may allow large premium hikes.

An early estimate from ObamaCare analyst Charles Gaba finds that for nine states the average approved premium increase for next year is 27.6 percent." - State officials under pressure to OK ObamaCare premium hikes,, 08/26/2016

Link to the entire article appears below:



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