Health Insurers Seek Hefty Rate Boosts (WSJ)

H/t reader M.G.:

“More from the WSJ….this time from the insurers point of view. Some greedy gut insurance companies are asking premium rates of over 50%……Obamacare put no limits on the amount of money they can charge. It just made it a crime for any American to go without coverage……..giving greedy guts a captive market of over 316 million people.
The IRS will go after anyone who defies this law, and the IRS has more financial power than any other government agency.
Found the link on Huffington Post……..”


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Health Insurers Seek Hefty Rate Boosts (Wall Street Journal, May 21, 2015):

Major insurers in some states are proposing hefty rate boosts for plans sold under the federal health law, setting the stage for an intense debate this summer over the law’s impact.

In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016. The biggest insurer in Tennessee, BlueCross BlueShield of Tennessee, has requested an average 36.3% increase. In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products. Moda Health, the largest insurer on the Oregon health exchange, seeks an average boost of around 25%.

All of them cite high medical costs incurred by people newly enrolled under the Affordable Care Act.

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