Chairman Upton on Health Law's #RateShock
OBAMACARE #RATESHOCK ALERT
Health Law’s #RateShock Strikes Again
Premiums to Triple for Healthy Kentucky Family of Four – Rates Similar to Shock in Store for Residents in Wisconsin, Georgia, Ohio, and Indiana
With just one week remaining before the health care law’s exchanges are scheduled to open for business, reports continue to pile up regarding the law’s many broken promises including the looming rate shock in store for millions of Americans. As Fox News explains, “ACA, of course, is the abbreviation for the president’s new law, the Affordable Care Act – which for the Mangiones will be anything but affordable because the law adds a new tax on every insurance policy and requires a list of additional benefits the Mangiones didn’t want to pay for.” The news for this healthy Kentucky family of four, whose premiums are set to rise from $333 a month to $965, unfortunately mirrors the expected rate shock set to hit Wisconsin (125 percent), Georgia (198 percent), Ohio (88 percent), and Indiana (72 percent). The Energy and Commerce Committee has also chronicled that the law’s rate shock will increase premiums by as much as 400 percent. This shock is now becoming a reality.
“The closer we get to the health law’s launch next week, the more reports that confirm the sad and expensive reality of the looming rate shock set to strike millions of folks, young and old,” said Chairman Fred Upton (R-MI). “While the administration boasts creative arithmetic and works to avoid the facts, stories of families like the Mangiones in Kentucky whose premiums are set to triple are sadly now the norm, not the exception. Such rate shocks threaten to devastate the budgets of families who are still struggling to get back on their feet.”
September 24, 2013
One Man’s Obamacare Nightmare
Andy and Amy Mangione of Louisville, Ky. and their two boys are just the kind of people who should be helped by ObamaCare. But they recently got a nasty surprise in the mail.
"When I saw the letter when I came home from work," Andy said, describing the large red wording on the envelope from his insurance carrier, "(it said) 'your action required, benefit changes, act now.' Of course I opened it immediately."
It had stunning news. Insurance for the Mangiones and their two boys, which they bought on the individual market, was going to almost triple in 2014 --- from $333 a month to $965.
The insurance carrier made it clear the increase was in order to be compliant with the new health care law.
"This isn't a Cadillac plan, this isn't even a silver plan," Mangione said, referring to higher levels of coverage under ObamaCare.
"This is a high deductible plan where I'm assuming a lot of risk for my health insurance for my family. And nothing has changed, our boys are healthy-- they're young --my wife is healthy. I'm healthy, nothing in our medical history has changed to warrant a tripling of our premiums.
"Well I'm the one that does the budget,” said his wife. "Eventually I've got that coming down the pike that I gotta figure out what we're gonna cut what we're gonna do, to afford a $1,000 a month premium." …
Read the complete story online here.