Reports Confirm Harsh #RateShock Reality - Premiums Have ALREADY Skyrocketed and Continue to Rise

July 31, 2014

Despite the president repeatedly promising, “We’ll lower premiums by up to $2,500 for a typical family per year,” reports confirm that premiums have already skyrocketed for Americans across the country, and as health care premiums for next year are being finalized, it’s clear costs could rise even higher. The Los Angeles Times highlighted Tuesday’s announcement by California’s Democratic Insurance Commissioner that premiums have soared, reporting, “The cost of health insurance for individuals skyrocketed this year in California, with some paying almost twice what they did last year, the state’s insurance commissioner said. …Jones said individuals this year paid between 22% and 88% more for individual health insurance policies than they did last year … The hardest-hit were young people.”

In Louisiana, the Centre Daily Times reports that costs will continue to rise. “The state’s largest insurer says close to 45,000 Louisiana policyholders could see the rates for their health coverage jump anywhere from 10 percent to nearly 20 percent next year, and the Affordable Care Act is a major reason.” Business Insider adds, “Insurance companies operating in New York State’s marketplace are expected to ask for double-digit premium hikes next year, according to new filings from the companies.” 

July 29, 2014 

Health Premiums Soared, Insurance Commissioner Dave Jones Says 

The cost of health insurance for individuals skyrocketed this year in California, with some paying almost twice what they did last year, the state's insurance commissioner said. …

At a news conference Tuesday, Jones said individuals this year paid between 22% and 88% more for individual health insurance policies than they did last year, depending on age, gender, type of policy and where they lived.

The increases did not affect poor people, whose policies are heavily subsidized, Jones said. The study results released Tuesday did not include group policies such as those offered by employers.

Jones said he authorized the study of health insurance rates after receiving numerous complaints about rising costs. ...

The rate increase from 2013 to 2014, on average, was significantly higher than rate increases in the past," Jones said.

The hardest-hit were young people, he said. In one region of Los Angeles County, people age 25 paid 52% more for a silver plan than they had for a similar plan the year before, while someone age 55 paid 38% more, Jones said. ...

Read the article online

HERE.

July 30, 2014

Hikes Sought in Health Coverage Rates

The state's largest insurer says close to 45,000 Louisiana policyholders could see the rates for their health coverage jump anywhere from 10 percent to nearly 20 percent next year, and the Affordable Care Act is a major reason.

Blue Cross and Blue Shield of Louisiana accounts for the bulk of those individual policies, which people buy directly from an insurance company rather than through their employer. ...

Read the article online HERE.

July 3, 2014

New York Healthcare Premiums Are About to Explode

Insurance companies operating in New York State's marketplace are expected to ask for double-digit premium hikes next year, according to new filings from the companies.

Capital New York reports the average requested increase was 13%. The New York Post reports that number at about 12%. But the bigger insurers are seeking a bigger premium hike — according to Capital, the six most popular plans in New York are requesting an average increase of almost 15%. …

Read the article online HERE.

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