Obamacare rate INCREASES up to 40% +

Insurance rates under Affordable Care Act set to spike in 2017

http://www.kcrg.com/content/news/391614191.html

CEDAR RAPIDS, Iowa (KCRG-TV9) – Iowa’s Insurance Division approved big rate hikes Monday for companies offering insurance plans under the Affordable Care Act, also known as Obamacare.

The largest hike was for Wellmark, which will raise rates an average of 42.6%. This will be the first year Wellmark will offer plans on the state’s Health Insurance Marketplace. Aetna, which is the largest provider on the marketplace right now, will raise rates an average of 22.6% in January. Gunderson rates will rise 19.8% and Medica rates will increase 19%. Avera, another newcomer to the marketplace in 2017, has asked for a 5% hike.

The division held hearings on the rate hikes in July where consumers expressed anger over the rising insurance costs. Insurance companies say the rate increases are in line with the rising costs of health care with more people now insured and seeking care.

Subsidies will help most of the 55,000 people enrolled through Iowa’s Health Exchange cover some of the costs of the increase. 87% of enrollees now are getting subsidies.

 

One thought on “Obamacare rate INCREASES up to 40% +

  1. I have no idea where these “+25%” or even “+40%” kind of statements are coming from. That may be true in many cases for the underlying premium, but averages are just that – averages – meaning over half of people are gonna pay even MORE.

    Furthermore, ACA subsidies do not appear to be keeping pace at the low end of income (where i am). For example, to keep my “same” plan from 2016 again in 2017 (and I quote “same” because the deductible is going up 40%), it’s true the whole premium is ‘only’ going up 30%. The upshot: Net of my ACA tax credit, what I pay from my pocket for the patient part of premium will go up 130%. That’s right, it’s over doubling. Add to that the effect of the deductible increase, and if I so much as see my doctor this year, it’s gonna cost me an extra grand or two.

    And THAT is not affordable to somebody of minimal means.

    Am I supposed to be happy about that, and just be grateful to have insurance at all, when a lousy cortisone shot bills out at $450 and is called “minor surgery.?” WTF!

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