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Editor/Founder: Bill Smith, Ph.D. [aka: OzarkGuru & 2010 AFP National Blogger of the Year]
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One of the penalties for refusing to participate in politics is that you end up being governed by your inferiors. -- Plato (429-347 BC)

Tuesday, May 09, 2017

‘Massive, Double-Digit Premium Increases’ In MD, CT, VA

Amid Worries Of A ‘Death Spiral,’ Insurers Are Requesting Massive Rate Hikes Or Quitting Obamacare Exchanges Altogether

SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): “For years, the American people have suffered under this failed law. They watched their premiums soar. They watched their choices dwindle. Now, they’re watching as Obamacare collapses all around them.” (Sen. McConnell, Press Release, 5/08/2017)

MARYLAND: ‘Greater Than 50 Percent Rate Increase’ Coupled With Worries ‘That The Market [Is] In The Early Stages Of A Death Spiral’

“The head of the largest insurer in the Mid-Atlantic region warned Thursday that the Affordable Care Act marketplaces were in the early stages of a death spiral, a statement that came as the company announced its request for massive, double-digit premium increases for next year.” (“One Of Maryland’s Biggest Obamacare Insurers Wants To Hike Rates 50 Percent Next Year,” The Washington Post, 5/04/2017)
CONNECTICUT: Insurers ‘Seeking Double-Digit Rate Increases For 2018’ Up To Nearly 34%, Concern Last Two Remaining Insurers ‘May Leave’

“Health insurers in Connecticut are seeking double-digit rate increases for 2018 … the state Insurance Department said Monday. Ten health insurers are seeking rate increases for next year averaging 15.2 percent to 33.8 percent for individual plans. The increases for premium plans range from 19 percent to 52 percent…. For small group insurance – employers with 50 or fewer workers – average rate requests are up 3.6 percent to 31.6 percent.” (“Health Insurers Seek Double-Digit Rate Increases For 2018 Due To Rising Medical Costs, Marketplace Uncertainty,” Hartford Courant, 5/08/2017)
“The state’s health insurers are asking for sizeable rate increases for individual and small-business policies sold in 2018, led by Anthem, which is seeking an average 33.8 percent increase on plans covering individuals and their families.” (“Health Insurers Seek Big Rate Hikes, Blame Obamacare’s Uncertain Future,” The Connecticut Mirror, 5/08/2017)
“ConnectiCare has asked the Connecticut Insurance Department for an average rate hike of 15.2 percent on policies it sells through Access Health CT, where it now covers about 51,000 people. ConnectiCare also is asking for an average 26.3 percent rate increase on health plans it sells outside Access Health that cover more than 37,000 individuals.” (“Health Insurers Seek Big Rate Hikes, Blame Obamacare’s Uncertain Future,” The Connecticut Mirror, 5/08/2017)

“When Access Health started up in 2013, it sold policies from four insurers. Now only Anthem and ConnectiCare sell policies on the exchange. Access Health CEO James Wadleigh has said he’s concerned those two may leave, too.” (“Health Insurers Seek Big Rate Hikes, Blame Obamacare’s Uncertain Future,” The Connecticut Mirror, 5/08/2017)

VIRGINIA: ‘27 [Of Virginia's 95] Counties Could Have Only One Choice For 2018’

“Aetna is throwing in the towel in Virginia after suffering big losses in its Obamacare business. The company said Wednesday that it won't participate in the state's individual market -- either on the Obamacare exchange or outside of it -- in 2018.” (“Aetna Pulls Out Of Virginia's Individual Market, Citing Big Obamacare Losses,” CNN Money, 5/03/2017)

Tags: ‘Massive, Double-Digit Premium Increases, MD, CT, VA To share or post to your site, click on "Post Link". Please mention / link to the ARRA News Service and "Like" Facebook Page - Thanks!
Posted by Bill Smith at 2:11 PM - Post Link

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