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AP: Health Insurance Premiums May Rise 100%

From a gob-smacked Associated Press:

Insurers warn of sticker shock due to health care law’s new taxes, requirements as it expands

March 13, 2013

Some Americans could see their insurance bills double next year as the health care overhaul law expands coverage to millions of people.

The nation’s big health insurers say they expect premiums — or the cost for insurance coverage — to rise from 20 to 100 percent for millions of people due to changes that will occur when key provisions of the Affordable Care Act roll out in January 2014.

Mark Bertolini, CEO of Aetna Inc., one of the nation’s largest insurers, calls the price hikes “premium rate shock.”

“We’ve done all the math, we’ve shared it with all the regulators, we’ve shared it with all the people in Washington that need to see it, and I think it’s a big concern,” Bertolini said during the company’s annual meeting with investors in December.

Mr. Bertolini said this in December, and we are just hearing about it now?

Obviously, these stories are being put out now to prepare us for some Obama executive order mandating price controls on private health insurance. In order to hasten their bankruptcy even more. So we can finally get to the ‘holy grail’ of government-run, single payer insurance.

To be sure, there will be no across-the-board rate hikes for everyone, and there’s no reliable national data on how many people could see increases. But the biggest price hikes are expected to hit a group that represents a relatively small slice of the insured population. That includes some of the roughly 14 million people who buy their own insurance as opposed to being covered under employer-sponsored plans, and to a lesser extent, some employees of smaller companies.

The AP neglects to mention that this "small slice" is going to grow tremendously, once employers realize how much money they can save under Obama-Care by just giving money to the government (in penalties) rather than paying for employee insurance plans.

The price increases are a downside of President Barack Obama’s health care law, which is expected to expand coverage to nearly 30 million uninsured people. The massive law calls for a number of changes that could cause premiums for people who don’t have coverage through a big employer to rise next year — at a time when health care costs already are expected to grow by 5 percent or more:

— Changes to how insurers set premiums according to age and gender could cause some premiums to rise as much as 50 percent, according to America’s Health Insurance Plans, or AHIP, an industry trade group that’s funded by insurers.

— A new tax on premiums could raise prices as much as 2.3 percent in 2014 and more in subsequent years, according to a study commissioned by AHIP…

— Requirements that insurance plans in many cases cover more health care or pay a greater share of a patient’s bill than they do now also could add to premiums, depending on the extent of a person’s current coverage, according AHIP…

But Obama promised us that Obama-Care was going to make insurance premiums go down. In fact, that was the main argument for passing it. At one point Obama even claimed premiums would go down 3,000%.

The impact of some cost hikes will be wide ranging. The new premium tax, for instance, will affect individual insurance, some employer-sponsored coverage and Medicare Advantage policies, which are privately-run versions of the government’s Medicare program for the elderly and disabled

Mitt Romney mentioned these details during the recent campaign, but our media watchdogs, including the AP, called him a liar.

This article was posted by Steve on Friday, March 15th, 2013. Comments are currently closed.

2 Responses to “AP: Health Insurance Premiums May Rise 100%”

  1. Rusty Shackleford says:

    The sad part is that you can’t get the morons in this country to realize that the damage is all wrought by Obama’s policies and agenda. When bright conservatives speak up, the sophomoric and moronic media start calling them liars and the other morons prefer to believe the “cool kids” yet again.

    It’s remarkable, really that the collective stupidity of a population takes so long to realize how bad things are when it’s way past time to do something about it.

    I, for one, never wanted single-payer healthcare and was paranoid in the 90’s when Hitlery-care was all the rage. Who the hell was she, as first lady, to introduce a bill in the first place? (Never did get an answer for that one.)

    So here we are where the national socialists decided that their “strategery” will be to bankrupt the private healthcare industry through a series of unconstitutional laws and other gerrymandering of the system. Like termites, they eat away at the very structure that holds it together.

    All so the drooling mouth-breathers who I have to live amongst in society, who never took the time to figure out how to provide for themselves and family, want to be taken care of..which….cannot be done to any practical sense of the concept.

    Thanks to schools who won’t teach kids that “If you fail to plan…then you have planned to fail” because….OH! That sounds so mean! But if you don’t prepare kids for the cold, cruel realities of life, then the kids grow up facing those cold, cruel realities and then blame them on someone else….the way captain dumbass does.

    It’s an endemic and systemic problem we have grown into and fostered through creeping socialism. I recall when I was a kid in school where they started punishing kids for using certain words. Behavior modification, control and enforcement of same. Well, again…I know crap when I see/hear it.

    I see it in the way the company I work for is run and my contempt runneth over for the elitists whose only main goal in life isn’t so much running the company but to espouse how much “better than” everyone else they are. It’s sickening. You should see the looks I get when I fail to exhibit sympathy for one of them when they are faced with problems. My co-workers think I’m mean. My answer is always….”You think they’d give a goddam if you had a similar issue? You think they actually care about you? My, you live in a strange bubble of a world.”

    So it is with our government. 24/7 we hear how democrats “care” more than republicans. They play that one-string banjo over and over. What they have somehow managed to accomplish is that giving people free stuff is “caring” while forcing some lazy good-for-nothing to earn for themselves is not. Which feeds into the troll-minded attitude that they want mindless drones who go feed at the trough, do the bidding of the party, for the party.

    Well, I’ve had enough “partying”. All they’ve ever done for me is take my money and call me a racist, bigot homo-islamaphobe. So….again…my contempt for them runneth over. Fine, ruin the rest of my life-span with your bullsh*t healthcare control program. I’ll watch and write about the failing of this nation while you administer your kooky, mentally-deranged version of government, which has been tried before and again, and again.

    Some day…then…when my kids are raising their kids, maybe freedom once again will come. Sadly, I do not see this happening because humans have this natural tendency to gravitate to false charity. Mammals the world over do it. How easy it is to get the cow to stick their head in the instrument of their death at the slaughterhouse.

    My day is kind of ruined so I will go out and try to enjoy an otherwise gorgeous arrival of Spring here in the South and hope and pray that we don’t become Europe.

  2. GetBackJack says:

    Bank on it

    For once the NYT headline will be correct …. “Women and children impacted most”

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