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Obamacare Clusterfuck: Some premiums to double in 2014

The Hill:

Health industry officials say ObamaCare-related premiums will double in some parts of the country, countering claims recently made by the administration.

The expected rate hikes will be announced in the coming months amid an intense election year, when control of the Senate is up for grabs. The sticker shock would likely bolster the GOP’s prospects in November and hamper ObamaCare insurance enrollment efforts in 2015.

"... I think everybody knows that the way the exchange has rolled out … is going to lead to higher costs,” said one senior insurance executive who requested anonymity.

The insurance official, who hails from a populous swing state, said his company expects to triple its rates next year on the ObamaCare exchange.

The hikes are expected to vary substantially by region, state and carrier.

BWA-HA-HA-HA-HA-HA!!!!

Swing state, eh? The administration had better come up with a way to sweeten the pot for whoever this "official" (!!) represents, eh?

Meanwhile, the effects -- as usual with ObamaCare -- are going to be random. Some universal program!

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V. Arnold's picture
Submitted by V. Arnold on

Are you going to sign up? Just curious what you see on a personal level. I have no idea how old you are, so that does have some bearing on decisions, or not?
I have no idea what I'd do (if in the states) but I'll be 69 in 2 months, so it may not matter; but it's a moot point for me in any event.

quixote's picture
Submitted by quixote on

So what happened to the limits on premium increases that are supposed to be built in to Obamacare? Not that I'm surprised they're jacking it up. Just curious. They were raising rates something fierce in the year or two before the limits took effect, presumably so they could start from the stratosphere. And now it turns out they can just go into orbit?

Submitted by Dromaius on

Thanks for posting this, Lambert. I thought about posting it, but I'm doing my darndest to ignore the insurance situation. It isn't good for my health and I'm doing without insurance right now.

I'm so glad that we who had our plans cancelled can get waivers until Oct, 2016 (because our insurance commiss didn't allow our old plans to be renewed even though Obama allowed it). Until then I'm opting out. It would have cost me $10,000 before I would see a dime of care as it is this year. Scary what next year will bring. Oh well. Using this year's costs alone I'll save the $30,000 for medical expenses in 3 years, $60,000 for the spouse and I. That should cover some medical care in the mean time. No way would I even consider double premiums, LOL. Do they seriously expect people to afford that? No doubt the pitchforks and tar would be forthcoming.

If they're going to continue with this awful insurance debacle, wherein the individual market is the high risk pool, they need to come up with a system so that EVERYONE has to pay a portion of it....