Posted on 06/05/2015 5:28:59 PM PDT by TurboZamboni
June 05--Minnesotans got a shock Thursday when the state's health insurers proposed "eye-popping" rate increases for people who buy health insurance on the individual market -- premium increases as high as 70 percent. Democratic-Farmer-Labor Gov. Mark Dayton condemned the increases as "outrageous" and suggested they should be scaled back. Republicans saw them as reason to criticize the state-run portion of that market, MNsure. Here's the background about these premium increases, why they're happening and what they mean: What's proposed? Federal law requires health insurers to disclose any premium increases above 10 percent. Those were released Wednesday, and in Minnesota, there are 27 plans proposing an average premium increase of 43 percent. The highest increase was 74 percent, from a plan offered by Time Insurance Co. "It is eye-popping," said Jim Schowalter, president and CEO of the Minnesota Council of Health Plans. Not every plan on the individual marketplace was listed because some insurers, such as Medica, are proposing increases less than 10 percent. Medica's increases are lower because they charged higher premiums last year and so needed smaller increases to account for costs. Who's affected? These proposed increases affect only people who buy their insurance on the individual marketplace, rather than receiving health care from an employer. Just 6 percent of Minnesota's total health insurance population is on the individual market -- about 300,000 people. Why are rates going up so much?
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Hilarious!!!
74% and more the next year and so on.
Less healthcare to boot.
Imagine if car insurance were run like Obama care. Every policy would require coverage for RVs boats and motorcycles.The worst drivers would have to be insured and you could buy a policy after having an accident. Now imagine what car insurance would cost.
Idiots.
Of course rates are going up. Uncle Sugar is paying a big chunk directly to the insurance companies (who are also politically connected). Naturally the insurance companies are going to ride that gravy train as long and hard as they can.
These are the same people who cannot figure out why college costs have gone up so much after the federal government got involved.
These are the same people who cannot figure out why housing prices shot up so much after the federal government got involved
If car insurance were like Obamacare, it would cover oil changes and new tires.
Because everybody knows when you get government involved in anything, prices go down, service levels go up, and customer satisfaction hits all time high levels. That's why.
If car insurance were fun like Obamacare then car insurance would cover gasoline, oil changes, and all car maintenance, regardless of how you drive.
But the repair shops and gas stations would go out of business.
I read the article... Insurance companies are taking their cue from Higher Education.. If you raise the rates you guarantee a higher payback from taxpayers with Federal assistance programs. Federal assistance programs provide a reliable base of income, heckuva business model. Aside from higher ed, lots of these programs exist.
Pretty much anyone getting 3rd party payments where gubbamint is involved is going to overbill their ‘clients’.
because they can.
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