As the Health Subcommittee, chaired by Rep. Joe Pitts (R-PA), prepares to examine the health care law’s impact on premiums on Friday, news outlets are reporting that millions of Americans could see “premium rate shock” next year. The news comes on the heels of a joint report released by Republicans on the House Energy and Commerce, Senate Finance and Senate Health, Education, Labor and Pensions Committees that details how higher premiums and unaffordable coverage will unfairly hit young adults and middle class families. The report, “The Price of Obamacare’s Broken Promises,” is based on a compilation of over 30 studies and analyses and outlines estimated premium increases for most states that will result from rigid mandates, price controls, fees, and taxes imposed in the health care law. More information on tomorrow’s Health Subcommittee hearing on “Unaffordable: Impact of Obamacare on Americans’ Health Insurance Premiums” is available here.
INSURERS WARN OF OVERHAUL-INDUCED STICKER SHOCK
March 13, 2013
By Tom Murphy
Some Americans could see their insurance bills double next year as the health care overhaul law expands coverage to millions of people.
The nation’s big health insurers say they expect premiums – or the cost for insurance coverage – to rise from 20 to 100 percent for millions of people due to changes that will occur when key provisions of the Affordable Care Act roll out in January 2014.
Mark Bertolini, CEO of Aetna Inc., one of the nation’s largest insurers, calls the price hikes “premium rate shock.”…
Read the full story online here.
Read the join report, “The Price of Obamacare’s Broken Promises,” here.