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Obamacare Providers Asking For Hefty Premium Increases

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  • Obamacare Providers Asking For Hefty Premium Increases

    And now it begins...

    Dozens of health insurers selling plans under ObamaCare have requested hefty premium increases for 2016, according to preliminary information published Monday by the White House.
    The insurers have cited higher-than-expected care costs from customers they gained under the ObamaCare's coverage expansion and the rising cost of prescription drugs and other expenses as reasons for proposing the increases, many of which are in the double-digit percentages.
    Among the market leaders, Blue Cross and Blue Shield of North Carolina is seeking a roughly 26 percent premium increase, while plans in Illinois and Florida, among other states, are asking for hikes of 20 percent or more. In Pennsylvania, Highmark Health Insurance Co. is asking for a 30 percent increase.
    http://www.foxnews.com/politics/2015...plans-in-2016/
    Quis Custodiet Ipsos Custodes? Who is watching the watchers?

  • #2
    And so the "death spiral" begins...

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    • #3
      More like this kind of spiral...



      This is the "redistribution of income" that Obama regards as the keystone to his socialist plan - at this point, those with income will be forced to pay for Obamacare for all who do not, and that will be done by greatly increasing the premiums.

      I look for people to start opting out, either legally or illegally, rather than face crippling health care costs.
      Quis Custodiet Ipsos Custodes? Who is watching the watchers?

      Comment


      • #4
        An insurance death spiral is an actual term...

        http://en.wikipedia.org/wiki/Death_spiral_(insurance)

        Death spiral is a condition of the insurance market in which costs rapidly increase as a result of changes in the covered population. It is the result of adverse selection in insurance policies where lower risk policy holders choose to change policies or be uninsured.
        What happens is as costs increase those with the least risk opt out of the market causing rates to continue to rise leading to a type of hyperinflation that dooms the market.

        Comment


        • #5
          Originally posted by T. A. Gardner View Post
          An insurance death spiral is an actual term...

          http://en.wikipedia.org/wiki/Death_spiral_(insurance)



          What happens is as costs increase those with the least risk opt out of the market causing rates to continue to rise leading to a type of hyperinflation that dooms the market.
          I know, TAG...I was trying unsuccessfully to be facetious.

          In medicine, it is referred to as "circling the drain", BTW. The prognosis is never favorable.
          Quis Custodiet Ipsos Custodes? Who is watching the watchers?

          Comment

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