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Maryland, Virginia and Connecticut are the first three states to make their 2018 Obamacare premium estimates public and they paint a very bad picture for the future of Obama's crowning legislative achievement. On average, premiums for individual insurance are expected to increase 33% over 2017 with Maryland's 4 insurers requesting a staggering 45% YoY increase.
The panicked mainstream media is eagerly trying to pin the 2018 premium increases on the Trump administration rather than simply admitting that Obamacare was doomed from the start.
One of Maryland’s biggest Obamacare insurers wants to hike rates 50 percent next year
The head of the largest insurer in the Mid-Atlantic region warned Thursday that the Affordable Care Act marketplaces were in the early stages of a death spiral, a statement that came as the company announced its request for massive, double-digit premium increases for next year.
Why the coming Great Recession is brought to you by the Healthcare Cartel is painfully simple...
In an era of stagnant household incomes, every additional dollar devoted to rising healthcare insurance, outrageously unaffordable medications and soaring co-pays is one less dollar that's available to be saved, invested or spent on something other than healthcare.
If the plan costs $5,000 a year, but doesn't pay a dime of expenses until you've spent $5,000, then the plan actually costs $10,000.
Obamacare is Obama's and Democrats baby and it FAILED. Too bad Trump has to spend time to do something about the mess.
Do any of you bother to actually read linked articles before posting comments?
“What we’re seeing is greater sickness levels. The pool of beneficiaries is becoming sicker, in part because healthier people are not coming in at the same level we hoped,” said Chet Burrell, chief executive of CareFirst, which insures about 215,000 people through the marketplaces set up by the Affordable Care Act in all three states. Burrell said he was worried that the market was in the early stages of a death spiral, in which sick people who need insurance stay in the pool but healthier people drop out, causing insurers to raise rates — driving even more healthy people out of the market."
and:
"The CareFirst announcement is a worrisome sign for insurers facing deep uncertainties about the political and regulatory environment next year. When large premium increases were approved for 2017, many health policy specialists and supporters of the Affordable Care Act argued those were a one-time correction because companies had priced their products too low when they entered the nascent marketplace. A recent report by S&P Global said the ACA market was not in a death spiral and said that Blue Cross Blue Shield plans broadly had done markedly better in 2016 than previous years. The CareFirst rate request, which is not final, suggests that despite evidence the market is stabilizing, insurers in some areas are struggling and the flux around the future of health care is taking its toll."
GOP has done everything possible to stymie, kill, starve or otherwise cause ACA to fail, rather than work with Obama and the democrats to make the thing work.
First and foremost issue is shown by that obese kid in linked article picture; large numbers of persons with bad to poor health rushed to take advantage of something they didn't have access to previously; good insurance. On the other side young and or otherwise healthy persons are not signing on for insurance (for various reasons of their own), meaning there is an imbalance. The pool of high users of healthcare is far greater than low; *NO* insurance can survive under those conditions and or must charge higher rates to cover costs.
We keep coming back to the same rodeo over and over; no sort of national health scheme works unless it is universal; that is *EVERYONE* must be in.
His Orangeness and various instruments in Congress have further stirred the pot of uncertainty by removing the individual mandate, and now passing a "repeal and replace" bill out of Congress that basically guts ACA but offers no solid replacement, well other than enriching the one percent.
Businesses and markets that must plan for future do *NOT* like uncertainty. Whatever comes of the GOP's "repeal and replace" efforts will not be finalized until long after health insurers must file rate plans for 2018, so most are doing what they need to do.
TrumpCare will substantially increase premiums for people 50-65. Whatever the current/future ACA premium is for those aged 50-65, it will be much higher if Trumpcare is passed by the senate.
TrumpCare will substantially increase premiums for people 50-65. Whatever the current/future ACA premium is for those aged 50-65, it will be much higher if Trumpcare is passed by the senate.
You are talking "ifs". We are talking the certainty that ObamaCareNot did exactly as predicted by those that opposed it.
I just read another big insurer, can't remember which one, is dropping out of ObamaCareNot in 2018.
Obama's failed attempt to run the US into bankruptcy = ObamaCareNot
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