Posted on 10/15/2014 5:31:14 PM PDT by TurboZamboni
The insurer pulled out of the MNsure exchange and foresees a 63 percent average premium increase.
Sticker shock could be on the horizon for thousands with coverage from PreferredOne, the top-selling health plan in the first year of the MNsure exchange.
The Golden Valley-based insurer said Wednesday that its individual market subscribers will see an average premium increase next year of 63 percent.
The company plans to send letters at the end of October telling individuals exactly what to expect, since the average represents a blending of higher and lower rates for individuals that vary by age, geography and smoking status. The rate hike is a response to the high level of medical claims ine insurer incurred during the first year of new market rules under the federal Affordable Care Act.
“This increase is a significant step at stabilizing our rates and plans for the years to come,” the company said in a statement.
PreferredOne won’t be selling policies on MNsure for 2015, and customers who want to stay with the company will need to buy coverage outside the exchange.
(Excerpt) Read more at startribune.com ...
Don’t worry. It’s not going to happen until after the elections. We good.
Obama's final phase to destroy America kicks in then.
Thank you Al Franken!
It’s W’s fault.
And Dayton will say he had no idea this would happen and blame those evil insurance companies.
And then resign his position to Tina ‘Come get some ham’
Smith due to health issues.
...and thank you Obama for this national health insurance nightmare.
Yeah ... yeah ... yeah ... yadda ... yadda ... yadda .... but when all is said and done I still get the $2500/year deduction President Obama promised me over and over again, right?
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