‘Premiums… Will Increase’

One Day After The President’s Speech, ‘Experts Predict That Premiums On Individual Plans Will Increase In Most States’
INDIANA: Costs ‘To Increase From An Average Of $255 … To $570 In 2014’

“…experts predict that premiums on individual plans will increase in most states because of the new consumer protections the sweeping legislation requires. The impact on premiums will vary across states…” (“Obama Boasts Of Health Care Savings, But Costs Likely To Rise For Many,” McClatchy, 7/19/13)

INDIANA: “Insurance rates in Indiana will increase 72 percent for those with individual plans and 8 percent for small group plans under President Barack Obama's healthcare overhaul, according to the state’s insurance department. The spike in costs is due primarily to new mandates under the law… Costs for individual plans is expected to increase from an average of $255 per member per month in 2012 to $570 in 2014, when the most aspects of the law go into effect.” (“State Says Obamacare Will Force 78 Percent Increase In Individual Insurance Plan Rates,” Indianapolis Star, 7/19/13)

OHIO: ‘average to cover those costs in 2014 is $420 representing an increase of 88 percent’ “Health Insurance Costs to Increase Significantly Under Affordable Care Act… Based on the proposals submitted to the Department, the average to cover those costs in 2014 is $420 representing an increase of 88 percent when compared to the Society of Actuaries study.” (Ohio Department Of Insurance, Press Release, 6/6/13)

MARYLAND: “Maryland’s biggest health insurer proposed raising premiums for individual policies by an average of 25 percent next year, saying that President Obama’s health law would require it…” (“With Health Law Looming, One Large Insurer Wants A 25 Percent Premium Hike,” The Washington Post, 4/24/13)

“…study finds that insurance companies will have to pay out an average of 32 percent more for medical claims under President Barack Obama's health care overhaul. What does that mean for you? It could increase premiums…” (“Study: Health Law To Raise Claims Cost 32 Percent,” AP, 3/27/13)

• “…the overwhelming majority [of states] will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers. The disparities are striking. By 2017, the estimated increase would be 62 percent for California, about 80 percent for Ohio, more than 20 percent for Florida and 67 percent for Maryland." (“Study: Health Law To Raise Claims Cost 32 Percent,” AP, 3/27/13)

IDAHO: ‘Percentage change, per-person, per-month … Idaho 62.2%.’ “Medical claims costs are the main driver of health insurance premiums. A study by the Society of Actuaries estimates the new federal health care law will raise claims costs nationally by an average of 32 percent per person in the individual health insurance market by 2017. ... STATE Percentage change, per-person, per-month … Idaho 62.2%.” (“States Change In Claims Cost In Health Overhaul,” AP, 3/27/13)

MISSOURI: “Much of the reason for the higher claims costs is that sicker people are expected to join the pool, the report said. In Missouri, the rate is 59 percent; in Illinois, 51.” (“Health Overhaul Will Raise Claims Cost 32 Percent, Study Says,” AP, 3/26/13)

KENTUCKY: “A new study says costs of medical claims would rise an average of 34 percent for individuals in Kentucky next year under the Affordable Care Act. … The cost of medical claims is the biggest driver of health insurance premiums.” (“Report: Under ACA, Ky. Claims To Go Up 34 Percent,” AP, 3/27/13)

---

Tags: Obamacare, Premiums, Will Increase, Higher premiums, To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service. Thanks!