Washingtonians soon may be hit with more proof of Obamacare’s failures. Health insurance companies that sell individual policies in our state are seeking to increase their rates by an average of 13.5 percent in 2017. To be exact, companies’ rate increase requests range from 9.5 percent by Group Health Cooperative to 20 percent by Premera.
The new rate requests are under review by the state insurance commissioner’s office.
According to Commissioner Mike Kreidler, “larger than usual rate hike requests show the individual insurance market is still being developed.” The reality is that “insurance companies are losing money selling to individuals and rate increases could have been requested last year.”
Kreidler attempted to offer a glimpse of optimism about President Obama’s signature legislation. Apparently, “people who can’t afford the higher rates will also benefit from an increase in government subsidies.”
That shouldn’t make the middle class feel any better — they are the ones paying for the “increase in government subsidies” to cover Obamacare’s failures.
The bad news follows the announcement that two of the state’s health insurance companies participating in the state’s Obamacare exchange (Moda and United Healthcare) are dropping out of the market of selling insurance to individuals and families statewide.
Stephen Serafin says
Increase in premium may be somewhat problematic, but I find it to be preferable over an increase in deductibles. The devil is in the details.
Clay Fitzgerald says
That’s merely a distinction without a difference. Either way, it’s money out of YOUR own pocket.
Stephen Serafin says
O’Bummer Care hasn’t changed the underlying premise of the Legalized Extortion game called insurance. Either way, YOU are screwed!
Quit blaming Obama! You republicans had plenty of time to fix the problems within the ACA, but NO, you tried to kill the whole thing.
Start thinking outside the box, as they say, and come up with some decent fixes, or a health care bill that helps all citizens.
But then, you republicans aren’t able to do that, are you? Why do you hate helping the average citizen?
Felix LooseCannon says
Individual responsibility is what Conservatives stand for. Not having Big Gubmint fixing every problem that comes along. The healthcare system started eroding in 1965 when Democrat Lyndon Johnson decided to get Big Gubmint involved and created Medicare. Just because someone or other has good intentions does not always equal good results. THAT is true in almost EVERY instance with centralized Big Gubmint planning. 200 Trillion in unfunded liabilities for the feds. Bankrupt is what progressive ideals have brought us to.