Hoosiers likely to see insurance costs soar

AP via Fort Wayne Journal Gazette ^ | June 4, 2016 | Brian Slodysko

[John W]

INDIANAPOLIS – Individual health insurance costs are expected to climb across Indiana in 2017 as insurers continue to grapple with rising health care expenses and a market that was only recently overhauled by the federal Affordable Care Act.

Many who purchase coverage through insurance exchanges created under the law are eligible for subsidies or tax credits to offset costs. But those who make too much money to qualify for federal help will have to pay the full price of coverage – an amount that could nearly double in some cases. That could spell a steep increase for a group of consumers that can include small-business owners who haven’t set up coverage through work, early retirees, and people who can’t get coverage through a spouse’s employer.

Anthem, one of Indiana’s largest insurers, is seeking premium hikes ranging from nearly 20 percent to 41 percent for coverage it sells on and off the Affordable Care Act’s public insurance exchanges. That would mean an average increase of about 29 percent, under a rate request the state’s Department of Insurance has until Aug. 23 to approve.

The company covers less than 100,000 people with individual insurance plans sold both on and off the exchange in Indiana, spokesman Tony Felts said. That’s a small part of the company’s 3.5 million customers statewide, many of whom get insurance through their employer.

Felts said Anthem is seeking the premium hikes mainly because of factors not unique to Indiana: people are using more medical services; drug costs, especially for specialty medicines, have climbed; and an ACA reinsurance provision that helped insurers pay for large claims is going away.

[Impala64ssa]

Just had a chat with my lovely daughter. She and my son-in-law are paying outrageously high premiums also here in FL, good thing they got decent paying jobs. 0-care, gotta love it./s

[CptnObvious]

But those who make too much money to qualify for federal help will have to pay the full price of coverage...

Last year I had Kidney Stones, the Obamacare qualified insurance paid NOTHING. Obamacare deductibles are a killer.

[Does so]

To prevent another one, use this diet:

http://www.botanical-online.com/oxalatecontentoffoods.htm

I was given a VA card upon enlisting. It's worthless now, but I keep it as a reminder of Government.

[Albion Wilde]

Ping!