Posted on 08/14/2015 8:16:32 PM PDT by Republican Wildcat
The Kentucky Department of Insurance recently approved insurers’ requests for rate hikes. And all but one of the 13 insurers selling individual and small-group plans in the state are raising rates.
The approved increases, which are averages among the plans each insurer offers in Kentucky, are nearly identical to insurance company requests made to the state’s Department of Insurance in June. Most are between 5 and 15 percent.
The highest increase, by far, comes from the carrier designed to provide the most affordable plans. The Kentucky Health Co-Operative, a nonprofit governed by its members, will see a 25.1 percent rate increase for individual plans this year. Last year, the co-op implemented a 20 percent rate hike.
The co-op was part of a government push to increase competition among insurers. Funded by a federal loan made available through the Affordable Care Act, its massive back-to-back rate increases suggest things aren’t working as planned.
(Excerpt) Read more at wfpl.org ...
Who could have possibly predicted such a failure? < / sarc >
KY people in the hinterlands, especially, were already having a hard time making the dollar stretch to the end of the month.
How ‘bout dem ObonzoCares.
This is a complete Cluster. I hope those Obama voters suffer the most.
Yea I said that, I hope they suffer from their own mandate given to the socialist.
I been saying that since November 5, 2008.
The company that my son works for offers one policy. It’s $68 a month. Sounds great, doesn’t it?
Until you realize that there’s a $10,000 deductible. So you have to pay $10,000 out of pocket every year before insurance touches you. That would only be helpful for catastrophic situations like a cancer diagnosis or a major car accident. What young person can afford $10,000 a year for anything? The average 21 year old can’t afford to buy a house or a new car. And with those purchases, they have something to show for it.
Technically, my kid has insurance - for all the good it does him.
If there was a chronic or other condition that took years to treat, it would be $10,000 out of pocket every single year...may still not cover anything.
Yes, but so many of these young persons are so uninformed that they cannot understand their fates.
It’s the same way with medical “deductions” on the long form of the popular 1040 forms. “Popular” because the American people love to see others pay.
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