We’ve been hearing about increased premium costs for people who enrolled in Obamacare through Affordable Care Act’s insurance exchanges. Many of the early reports were driven by assumptions of various events taking place. Now we are starting to see analytical evidence to back up the earlier claims.
Avalere Health researchers investigated the premium rates in 9 states and found that in many cases the policyholders will be faced with changing plans at the upcoming open enrollment or face significant increases in the cost of their premiums. The states they looked at were Connecticut, Indiana, Maine, Maryland, Oregon, Rhode Island, Vermont, Virginia and Washington.
In each state, they looked at the benchmark plans for 2014 and 2015. Currently, the benchmark plans are the second lowest-cost silver plans which receive federal subsidies. The benchmark plans designated for federal subsidies can change from year to year which will determine premium costs.
Several other factors affect the costs of exchange purchased plans. New Insurers have entered the market and in many cases they have offered lower priced plans than the benchmark plans in an attempt to gain their share of the overall market. Other insurers that were already part of the exchange program are significantly raising their prices for 2015.
With the changing market, the second lowest cost silver plans will no longer be the benchmark plans in six of the nine states in 2015. In seven of the nine states, the lowest cost silver plans in 2014 will no longer be the lowest cost options in 2015. With the benchmark plans changing, it could also affect the amount of federal subsidies individuals receive which will directly impact their personal cost for health insurance.
The bottom line is that if you own an exchange purchased health insurance plan, you had better be prepared to start shopping around for a new low cost plan. There is a good chance that your current plan will cost you more, possibly significantly more in 2015.
The increased cost of healthcare coverage will ultimately result in more people cancelling their coverage because they can no longer afford it. The cost of living is going up faster than most families’ income. Gasoline has jumped again, along with the prices of beef, poultry, produce and milk.
Obamacare was sold to America as a way to provide affordable healthcare coverage to everyone in America. Instead, it costs far more in most states and millions more Americans are now uninsured than before Obamacare.
Regardless of what Rep. Nancy Pelosi said about needing to pass the Affordable Care Act in order to find out what’s in it, I believe Obama and the Democrats knew exactly what was in it and what it would do. They wanted Obamacare to help them raise taxes on everyone, even though they promised not to raise taxes on middle and lower income Americans.
I also believe that they knew it would result in higher costs and fewer people being insured. This will force many Americans into financial ruin whenever they have any form of health issue above the normal. This in turn will force them to seek government help in some form, thus increasing the number of Americans who are dependent on the federal government. The more dependent Americans there are, the easier for the liberals to establish their socialistic form of government, placing all of us under their tyranny, just like we were 240 years ago with Great Britain. It took a revolutionary war then to free Americans and it will probably take another one to free us again. What other alternative have they given us?