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Insurers predict 100% to 400% Obamacare rate explosion
Washington Examiner ^ | 5/14/2013 | Paul Bedard

Posted on 05/14/2013 3:26:56 PM PDT by markomalley

Internal cost estimates from 17 of the nation's largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration's goal of affordability.

New regulations, policies, taxes, fees and mandates are the reason for the unexpected "rate shock," according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation.

The report found that individuals will face "premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent."

One company said that new participants in the individual market could see a premium increase of 413 percent when new requirements on age rating and required benefits are taken into account, said the report. "The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 -- a $1,812 cost increase," it added.

The key reasons for the surge in premiums include providing wider services than people are now paying for and adding less healthy people to the rolls of insured, said the report.

It concluded: "Despite promises that the law will lower costs, [Obamacare] will in fact cause the premiums of many Americans to spike substantially. The broken promises are numerous, and the empirical data reveal that many Americans, from recent college graduates to older adults, will not be able to afford the law's higher costs."


TOPICS: Extended News; Government
KEYWORDS: 0carenightmare; obamacarecost; obamacarepremium
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1 posted on 05/14/2013 3:26:56 PM PDT by markomalley
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To: markomalley

400% of free is still free!


2 posted on 05/14/2013 3:30:46 PM PDT by Mark (Obama is more confused than a hungry baby in a topless bar)
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To: markomalley

Because govt bureaucrats can run a huge complex industry so damned well....


3 posted on 05/14/2013 3:34:04 PM PDT by C. Edmund Wright (Tokyo Rove is more than a name, it's a GREAT WEBSITE)
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To: markomalley

If you think health care’s expensive now, wait until you see what it costs when it’s free.


4 posted on 05/14/2013 3:34:23 PM PDT by carriage_hill (AR-10s & AR-15s are the Muskets of the 21st Century. Free men need not ask permission.)
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To: markomalley

Maybe the rate increases will finally get the low-information crowd to yank their heads back out of their a$$es and realize what a big mistake they made in Nov 2008 and 2012.


5 posted on 05/14/2013 3:35:39 PM PDT by I want the USA back (Pi$$ed off yet?)
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To: markomalley

No problem. Just print more and more money and give subsidies to more and more people so they can pay higher and higher premiums.

Sheesh.


6 posted on 05/14/2013 3:36:20 PM PDT by Lorianne (fedgov, taxporkmoney)
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To: markomalley
UNEXPECTED!!!
7 posted on 05/14/2013 3:38:08 PM PDT by MileHi ( "It's coming down to patriots vs the politicians." - ovrtaxt)
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To: DUMBGRUNT

ping


8 posted on 05/14/2013 3:42:56 PM PDT by mountn man (The Pleasure You Get From Life Is Equal To The Attitude You Put Into It)
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To: markomalley

What will be interesting will be the unemployment percentage after the commie care goes into effect. I think the record is 23% in 1932. If we’re lucky maybe it’ll only hit 22% and then when Democrats blame the RINO party, the RINOs won’t have to apologize too much.


9 posted on 05/14/2013 3:43:39 PM PDT by GrandJediMasterYoda (Someday our schools will teach the difference between "lose" and "loose")
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To: I want the USA back
Maybe the rate increases will finally get the low-information crowd to yank their heads back out of their a$$es and realize what a big mistake they made in Nov 2008 and 2012.

No, they'll just blame the evil, rich, greedy insurance companies.

10 posted on 05/14/2013 3:46:01 PM PDT by mountn man (The Pleasure You Get From Life Is Equal To The Attitude You Put Into It)
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To: markomalley

My 2012 form W-2 has a box with the cost of my employer provided health insurance in it. Last year it was about $4,000. That amount is not taxable YET. Soon the amount will be more than double and it will be taxable. Why else would the IRS add that box to the W-2? How many times did 0bama promise “If you make less than $250,000 yo taxes won go up one one dime.” That a**hole makes me sick!


11 posted on 05/14/2013 3:47:45 PM PDT by forgotten man
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To: markomalley

“crushing the administration’s goal of affordability.”

The goal was never “affordability”, the goal is CONTROL, and the power to crush political opposition. They are ALREADY handing Confidential info to Radical Dem groups for political use, what do you think they are going to do with medical records??


12 posted on 05/14/2013 3:49:53 PM PDT by tcrlaf (Well, it is what the Sheeple voted for....)
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To: markomalley

A lot of these insurance company suckers signed on for this oppressive monstrosity. Now Obama will make them eat costs and then saddle the “rich” taxpayers with the remainder. We’ll end up with no private insurance market and the “rich” paying 70%+ in taxes to give the entire country, including any illegal who can make it across the border, free health care.


13 posted on 05/14/2013 3:51:10 PM PDT by Opinionated Blowhard ("When the people find they can vote themselves money, that will herald the end of the republic.")
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To: markomalley
what did they expect, when the insurance companies are being forced to cover millions of fags with AIDS after they got it?
14 posted on 05/14/2013 3:52:33 PM PDT by TexasFreeper2009 (Obama lied .. the economy died.)
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To: GrandJediMasterYoda

Actually I think just the opposite.

I think Obamacare will actually result in lower unemployment, as 10’s of millions of businesses shift people to part time so they wont have to pay for their insurance, thus forcing them to hire more people.

Hope you enjoy you minimum wage 30 hour a week job :)


15 posted on 05/14/2013 3:55:20 PM PDT by TexasFreeper2009 (Obama lied .. the economy died.)
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To: forgotten man
Yep - give it about 5, err 3, umm - a year
16 posted on 05/14/2013 4:00:05 PM PDT by mykroar (Moderation in temper is always a virtue; but moderation in principle is always a vice.-Thomas Paine)
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To: TexasFreeper2009

Yup, normal people are going to get fagged by this law when fully implemented.


17 posted on 05/14/2013 4:02:48 PM PDT by Mouton (108th MI Group.....68-71)
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To: GrandJediMasterYoda

That isn’t counting all the steeple on SSD...


18 posted on 05/14/2013 4:05:15 PM PDT by Shady (Libya shows us how Americans rate...)
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To: markomalley
And imagine when the IRS and Obamacare are basically merged.

OH...what fun we will have!

"You teach history...the Constitution? Well, sir, you have come to the wrong hospital!"

19 posted on 05/14/2013 4:06:13 PM PDT by RoosterRedux (Obama's Chechens are coming home...to roost.)
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To: Mark
400% of free is still free

Yeah, right. Obama's sticking it to the middle class - and everyone who's truthful knows it.

20 posted on 05/14/2013 4:09:14 PM PDT by GOPJ ( A gang rape by Eight isn't 'immigration reform'... Send the millions of illegals home.)
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