Obamacare’s Pocketbook Problem

Thanks To Obamacare, ‘Premiums … Will Increase In Most States,’ Costs Could ‘More Than Double’
‘Rate Will Rise Under Obamacare’

GEORGIA: ‘Insurance companies in Georgia have filed rate plans increasing health insurance rates up to 198 percent’ “Georgia Insurance Commissioner Ralph Hudgens has filed an ‘emergency request’ with the Obama administration to delay approval of rates for individual health plans that he said will cost some consumers more than double what they are paying today. ‘In complete contradiction to every promise made by the President with regard to the Patient Protection and Affordable Care Act, insurance companies in Georgia have filed rate plans increasing health insurance rates up to 198 percent for some individuals,’ Hudgens said in a letter to Health and Human Services Secretary Kathleen Sebelius.” (“Insurance Chief’s Claim: Health Care Law Will Inflate Rates,” Atlanta Journal-Constitution, 7/30/13)

• “For an average 25 year-old male, premiums are set to rise 85 to 198 percent within the exchanges, while for a 45 year-old male, premiums will rise 40 to 100 percent, [Insurance Department official Jay] Florence said.” (“Georgia Insurance Rates Spike Under Obamacare,” Washington Free Beacon, 7/30/13).

OHIO: “Ohioans purchasing health insurance on a new online federally run marketplace will spend 41 percent more for individual coverage than they would have this year, according to the state Department of Insurance.” (Insurance To Cost 41% More On Health Exchange, State Says,” Columbus Dispatch, 8/1/13)

• “Premiums will cost on average $332.58 a month in 2014, compared to $236.29 this year.” (Insurance To Cost 41% More On Health Exchange, State Says,” Columbus Dispatch, 8/1/13)
• “For small group health insurance plans, six companies offering 184 plans were approved to sell on the exchange. Those plans will cost on average $401.99 a month in 2014, compared to $341.03 this year.” (Insurance To Cost 41% More On Health Exchange, State Says,” Columbus Dispatch, 8/1/13)

FLORIDA: “Rates will rise under Obamacare… Florida's insurance officials are predicting that health insurance rates will rise 5 to 20 percent for small businesses and 30 to 40 percent in the individual market through the state's new exchange.”(“Florida Insurance Officials: Rates Will Rise Under Obamacare,” AP, 7/30/13)

MARYLAND: “Marylanders who buy health insurance on a state exchange under health reform could see their premiums jump as much as 25 percent under rates approved by state regulators…Insurers said they were seeking the increases to cover the uncertainty of new costs associated with health care reform.” (“Premiums To Go Up As Much As 25 Percent Under Health Reform,” The Baltimore Sun, 7/26/13)

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)

“…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)

“…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)

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