Gotcha: Health insurance premiums soaring

Remember this?



Let’s fast forward to today’s WSJ headline:


The numbers are staggering (and virtually certain):

Health insurers are privately warning brokers that premiums … could more than double for some consumers buying their own plans.

The projected increases are at odds with what the Obama Administration says consumers should be expecting overall in terms of cost.

Starting next year, the law will block insurers from refusing to sell coverage or setting premiums based on people’s health histories, and will reduce their ability to set rates based on age.

That can raise coverage prices for younger, healthier consumers, while reining them in for older, sicker ones.

In a private presentation to brokers late last month, UnitedHealth Care, the nation’s largest carrier, said premiums for some consumers buying their own plans could go up as much as 116%, and small-business rates as much as 25% to 50%.

(The projections) include 10 percentage points tied to medical-cost inflation, not the law.

Subsidies will be available on a sliding scale for people with incomes of up to four times the federal poverty level — currently $45,960 for a single person and $94,200 a year for a family of four.

* * * * *
Did anybody really believe that things like covering slacker adult-children and paying for law students’ condoms would be free?

Pelosi was right: Gotta pass it to see what’s in it.

This is a runaway train …

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One Response to “Gotcha: Health insurance premiums soaring”

  1. Bort Says:

    In my view, the worst part of this situation is that there is no financial incentive in the ACA to get healthier. If you drop your cholesterol 70 points and loose 30 pounds, you pay the same rate as a someone who is in need of bypass surgery.

    People who make major lifestyle changes, or who are healthy to begin with, should be rewarded accordingly.

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