Obamacare's November surprise (consumers will see large rate increases for the first time Nov. 1)

Politico ^ | May 2, 2016 | Paul Demko

[reaganaut1]

The last thing Democrats want to contend with just a week before the 2016 presidential election is an outcry over double-digit insurance hikes as millions of Americans begin signing up for Obamacare.

But that looks increasingly likely as health plans socked by Obamacare losses look to regain their financial footing by raising rates.

Just a week after the nation’s largest insurer, UnitedHealth Group, pulled out of most Obamacare exchanges because it anticipates $650 million in losses this year, Aetna’s CEO said Thursday that his company expects to break even, but legislative fixes are needed to make the marketplace sustainable.

“I think a lot of insurance carriers expected red ink, but they didn’t expect this much red ink,” said Greg Scott, who oversees Deloitte’s health plans practice. "A number of carriers need double-digit increases.”

In some ways, the turmoil is not surprising: Under the health care law, plans are unable to choose who to insure, or how much to charge them based on their medical history. As a result, many plans enrolled a larger proportion of sicker people than they bargained for. But some of those losses were also a function of political wrangling after Republican lawmakers blocked payments that were supposed to help insurers get through the difficult first years.

[dhs12345]

Wow. Yet another lie that I didn't consider. I am one of those clinging to my job. Unfortunately, my job doesn't cover my wife and son and and so we have to buy insurance through the Obamacare exchange.

We have experienced the health care system before Obamacare and after, and simply put, Democrats have ruined the Health Care system. I can only hope that the low information voters will figure it out soon since we are beyond the tax season and many will not be getting refunds because of the ACA. I am not holding my breath.

[kearnyirish2]

I hope more people realize the impact, but I don’t know how the subsidies insulate them from it. The way our government works, I wouldn’t be surprised if this law adversely effects exactly 49.9% of people (with many of the remaining 50.1% actually getting a new freebie on the backs of those adversely effected).

[dhs12345]

Absolutely. I guess that the only good news is that we'll be dead and gone when the full force of Obamacare kicks in and our kids and grandkids will be stuck with the mess. That and the national debt. Maybe our deaths will be caused by Obamacare as the bureaucrats try to figure out how to give free healthcare to people who have never paid a penny into the system at the expense of us who have paid into the system our whole lives.

I can only hope that I still have fight within me. I love my kids and I will defend them.

[kearnyirish2]

I feel the same way regarding my children and the grandchildren I hope they produce. It really seems the overlords want to simply reduce the population around the world (many have stated that goal), and they are doing it by driving our birthrate down via economics while simply moving existing populations into the developed West from elsewhere (to prevent total collapse of established areas with intact housing and infrastructure).

We’ve already moved far along the path trod decades ago by Western Europe, and there is no reason to expect any different outcome.

[dhs12345]

No doubt that most are still opting for the penalty. I’d like to see the statistic.

The penalty is around $1000 versus an insurance premium of $7000; it is a pretty easy decision to make. Even with a subsidy, a premium is still thousands of dollars.

Money that a lower middle class American cannot afford.

Worst of all, millions, billions? of penalty dollars are being taken by the IRS and out of the bank accounts of middle class Americans.

[dhs12345]

The only hope is that we try to teach our children to be survivors with integrity and Faith.

[Osage Orange]

You will NOT have a choice....

[Osage Orange]

HA!!..........And good friends with the Clinton’s!!

[kearnyirish2]

Since this will policed via the IRS/Fed government, I don’t see any way out for people; the penalties will rise quickly, and what happens to those who opt out of insurance but get sick? I haven’t dealt with these plans directly (though my insurance provided through my job is getting worse to bolster the larger provider), but it seems like a nightmare. The Dems trumpet that so many more people have health insurance, but it is very clear far fewer people have actual health CARE (since they can’t afford to use the insurance anyway).

[SteveH]

https://www.google.com/?gws_rd=ssl#q=hillary+nutcracker