Posted on 05/31/2013 8:36:34 AM PDT by EXCH54FE
One of the most serious flaws with Obamacare is that its blizzard of regulations and mandates drives up the cost of insurance for people who buy it on their own. This problem will be especially acute when the law’s main provisions kick in on January 1, 2014, leading many to worry about health insurance “rate shock.”
Last week, the state of California claimed that its version of Obamacare’s health insurance exchange would actually reduce premiums. “These rates are way below the worst-case gloom-and-doom scenarios we have heard,” boasted Peter Lee, executive director of the California exchange.
Aetna CEO Bertolini: Get Ready for 'Rate Shock' as Some Health Insurance Premiums to Double in 2014 Avik RoyAvik Roy Contributor
Insurance Analysts: Obamacare to Increase Out-of-Pocket Premium Costs, Despite Lavish Subsidies Avik RoyAvik Roy Contributor
CMS on Obamacare's Health Insurance Exchanges: 'Let's Just Make Sure It's Not a Third-World Experience' Avik RoyAvik Roy Contributor
How Obamacare Dramatically Increases The Cost of Insurance for Young Workers Avik RoyAvik Roy Contributor
But the data that Lee released tells a different story: Obamacare, in fact, will increase individual-market premiums in California by as much as 146 percent.
Lee’s claims that there won’t be rate shock in California were repeated uncritically in some quarters. “Despite the political naysayers,” writes my Forbes colleague Rick Ungar, “the healthcare exchange concept appears to be working very well indeed in states like California.” A bit more analysis would have prevented Rick from falling for California’s sleight-of-hand.
Here’s what happened. Last week, Covered California—the name for the state’s Obamacare-compatible insurance exchange—released the rates that Californians will have to pay to enroll in the exchange.
(Excerpt) Read more at forbes.com ...
...for the widdle guy
But hey! Gas is only $3.60/gallon!!!
Next month!!
Seriously.
Perhaps it will be bad enough that there will be a clamour to just toss it out.
It was the leading headline on Drudge but got bump WAY down. Wonder who called him?
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