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Obamacare premiums to surge next year, early rate requests show


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2018 May 21, 5:22am   4,068 views  10 comments

by MisterLefty   ➕follow (1)   💰tip   ignore  

In Maryland, CareFirst wants to raise rates by 91 percent on a plan covering 15,000 people, Insurance Commissioner Al Redmer Jr. said. If approved, premiums for a 40-year-old could reach $1,334 a month.

“We have folks in Maryland that are struggling, that are trying to do the right thing, and they’re paying more for their health insurance than they are for their mortgage,” Redmer said on a call with reporters.

Maryland is seeking permission from the federal government to create a reinsurance program that would use $975 million in state and federal funds over five years to lower rates. That would help only temporarily, Redmer said.

“I believe we’ve been in a death spiral for a year or two,” he said. A permanent solution requires Congress to fix the Affordable Care Act, he said.

https://www.bloomberg.com/news/articles/2018-05-07/obamacare-premiums-to-surge-next-year-early-rate-requests-show

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1   CBOEtrader   2018 May 21, 7:01am  

AF is actually 100% accurate.

Complete deregulation would do wonders for healthcare.

Death spiral is correct. I wrote $1.2 million of annual premium in Blue Cross ACA plans during open enrollment this last season. No one pays full price for an ACA plan. Healthy/wealthy clients always find a better solution. The ACA plans therefore attract the most unhealthy/broke clients. Death spiral is a natural result, and it will get worse every year until the ACA is replaced.

Considering Obama and his ilk admitted the ACA was a mere stepping stone towards single payer, these "problems" appears to all be by design. No one w any wits could look at the ACA and not see how prices would explode, breaking the system. It happened in less than 8 years.

Good job Obama.
2   CBOEtrader   2018 May 21, 7:09am  

"Wise opted instead to join a health-care sharing ministry for $280 a month, though the arrangement doesn’t offer the same protections as regular coverage. She pays an extra charge because of her high blood pressure, and has to consult monthly with a health coach."

Health sharing plans are one alternative. Those plans are typically faith based due to a religious exemption from the ACA. https://mychristiancare.org/medi-share/ The health coach is due to obesity, btw.
3   komputodo   2018 May 21, 7:50am  

Hopefully the health coach doesn't body shame anyone.
4   bob2356   2018 May 21, 8:06am  

CBOEtrader says

Considering Obama and his ilk admitted the ACA was a mere stepping stone towards single payer, these "problems" appears to all be by design. No one w any wits could look at the ACA and not see how prices would explode, breaking the system. It happened in less than 8 years.


and trump did nothing since taking office that would have caused aca premiums to rise? Nothing at all? Be interesting to see who is actually honest here.
5   zzyzzx   2018 May 21, 8:58am  

It's all Obama;'s fault!!!
6   Shaman   2018 May 21, 9:09am  

CBOEtrader says
The health coach is due to obesity, btw.


And that’s the problem with insurance. It just pays for sick care, not wellness intervention or preventative care. If you are a fat fuck or have diabetes or a plethora of other diet-related illnesses, you get a doctors visit, some insulin and some pills. You get no strategy for improving your life, just prolonging your eventual death and multiple amputations.

My wife is a registered dietician. Unfortunately, due to insurance companies intransigence, she can no longer accept health insurance from her clients. She will do a superbill, but that just puts the onus on the client to attempt to get reimbursed from their insurance company. The problem is that insurance companies don’t want to pay anything, don’t pay anything unless every last sheet of paperwork is filled out to their specifications, is reviewed, sent back, mulched, resubmitted, and sent to a senior executive. Then they might pay $20 for a $200 bill.

It’s clear that insurance companies exist to pay out for expensive procedures, not to encourage health. If everyone was healthy, they couldn’t raise their rates, and their profits would dwindle.
7   CBOEtrader   2018 May 21, 9:20am  

bob2356 says

and trump did nothing since taking office that would have caused aca premiums to rise? Nothing at all? Be interesting to see who is actually honest here.


Removing the individual mandate was a must do. There was/is no other choice. It's only a first step. ACA needs a full repeal w a hard step in the free market direction.

I speak w working class people every day. They overwhelmingly hate Obama specifically because of the ACA.

Meanwhile the unemployed low class, low productivity americans who get free healthcare like Obama and the ACA.

Let's be honest, the ACA has two goals. 1) Hand $$billions of dollars to the politically well connected and 2) break the average American financially so that we introduce single payer.

Mission accomplished Obama.
8   Al_Sharpton_for_President   2018 May 21, 9:34am  

Single payer for alll including illegals and the world’s largest military budget. Yes we can!
9   SunnyvaleCA   2018 May 21, 11:37am  

APOCALYPSEFUCKisShostikovitch says
Complete deregulation of the market space is the only solution.


Deregulation would also fix Social Security by reducing the rolls of people collecting. Hey, maybe people would take responsibility for themselves and start leading a healthier lifestyle.
10   CBOEtrader   2018 May 21, 2:30pm  

Quigley says
It just pays for sick care, not wellness intervention or preventative care.


Yeah covered vs uncovered procedures is a regulatory nightmare. In general, no healthcare covers weightloss procedures, such as stomach bands for example. Some Medicare Advantage plans offer gym memberships and other silliness like that.

With the faith based health sharing plan they require a $50/month charge for being obese. They also offer a discount for being fit. Along with the required $50/month charge for obesity they suggest you work with a digital health coach.

The unique thing about faith based sharing plans is they DO NOT cover costs due to sinful decisions. Drunk driving accident? Fucked. Heroin addiction? Fucked. Out of wedlock pregnancy? Double fucked. So yes I get to question good christian mothers about their daughters chances of high school pregnancy, and the resulting $35k hospital bill. "Oh Jenny would NEVER do that! She's a good Christian girl."

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