Posted on 10/17/2017 7:27:55 AM PDT by GIdget2004
Pennsylvania insurers offering Obamacare plans will need to raise premiums an average 30.6 percent in 2018, nearly four times the increase that had been anticipated before President Donald Trump scrapped government subsidies five days ago.
The new numbers come from the state Insurance Department, which on Monday released the rate hikes that it had approved after calculating the impact of the president’s move.
Earlier this year, the Pennsylvania Insurance Department had projected an average 7.6 percent rate hike for individual health insurance plans purchased through the Affordable Care Act’s government exchange in this state.
Acting Commissioner Jessica Altman said she was disappointed by the news. “It is with great regret that I must announce approved rates that are substantially higher than what companies initially requested,” Ms. Altman said in a prepared statement.
“This is not the situation that I hoped we would be in, but due to President Trump’s refusal to make cost-sharing reduction payments for 2018 and Congress’ inaction to appropriate funds, it is the reality that state regulators must face and the reason rate increases will be higher than they should be across the country.”
(Excerpt) Read more at post-gazette.com ...
What else would you expect from a Tax-it-All Tommy Wolf appointee?
Of course no one in the MSM is even talking about the fact that:
- forcing insurance companies to carry high risk people
- forcing unnecessary benefits
- the subsidies were unconstitutional in the first place
all raise the cost of insurance.
But somehow, it is all President Trump’s fault.
This was NEVER part of the ACA as passed law (obamacare).
I wish the fake legacy news would report facts.
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“This is not the situation that I hoped we would be in, but due to President Trump’s refusal to make cost-sharing reduction payments for 2018 and Congress’ inaction to appropriate funds, it is the reality that state regulators must face and the reason rate increases will be higher than they should be across the country.”
To steal Glenn Reynolds noted comment from his Instapundit.com blog, this rise in costs ‘is not a bug, it is a feature.’
JoMa
“Pa. insurance department says Obamacare rates to rise 30.6 percent”
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The curse of the Prince Of Fools!
Poer-Flush Twice...Floater, Then drain The Swamp, MAGA, Etc. First Things First! Unfinished Biz!
THEN!...things will fall into place...
;)
Gunny G
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Taking free stuff away from gibsmedats is never easy.
Of course they are blaming Trump. The junkie blames anyone who interferes with their supply of drugs.
I read the other day that my Social Security check is gonna go up by 2% in January.Yet ObamaCare’s going up by 30%!
I only reached qualifying age a couple of years ago so my experience is minimal.
Excuse me the correct name is the Affordable Care Act............ ha, ha, ha, ha, ha, ha, sorry can’t keep from laughing............
Well my parents were on SS during the Obama Administration, and the answer is ZERO. Nada. Over eight years. 2% is historically YUGE.
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