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  • Obamacare and insurance rate increases.

    Oh, would you look at that.

    I bet conservatives are both furious and scrambling for excuses.

     


    http://aspe.hhs.gov/health/reports/2013/rateIncreaseIndvMkt/rb.cfm

    Results

    Since 2010, there has been a decline in the proportion of rate filings in which the requested increase is at or above the Affordable Care Act threshold of 10 percent. In 2010, 75 percent of rate filings requested increases of 10 percent or more, a proportion that dropped to 34 percent in 2012 (See Figure 1).[5] The sharp drop in requests for increases of 10 percent or more is most likely the result of the increased scrutiny that rate increases of 10 percent or more now receive.

    Percentage of Individual Market Rate Filings with Rate Change Requests of 10 Percent or More
     
    Percentage of Individual Market Rate Filings withRate Change Requests of 10 Percent or More

    Although results for 2013 are still preliminary, the available data suggest that the slowdown in rate increases seen from 2010 to 2012 has continued into 2013. The proportion of policies with rate increases of 10 percent or more is much lower, 14 percent in 2013, than in any previous year (see Figure 1).[6] Further, the average increase for policies in 2013 in the data available to date was slightly below the level in 2012 (7.9 percent for 2013 compared to 8.1 percent in 2012), providing no indication of an acceleration in the rate of growth of 2013 premiums, although these results are based on incomplete data.

    In the individual market in 2012 the average rate increase implemented in the analytic sample was 8.1 percent, 30 percent (or 3.5 percentage points) lower than the 11.6 percent average in 2010. By contrast, rate increases in the group market have been relatively stable from 2009 to 2011 (data from the 2012 MEPS-IC is not yet available).[7] These results are consistent with the hypothesis that, on net, the Affordable Care Act contributed to a decrease in the rate of premium growth in the individual market.


     

    And, look, it happened just like the government said it would happen. Government works!

    http://www.healthcare.gov/law/timeline/

    INCREASING ACCESS TO AFFORDABLE CARE

    Holding Insurance Companies Accountable for Unreasonable Rate Hikes

    Grants will be awarded beginning in 2010

    The law allows states that have, or plan to implement, measures that require insurance companies to justify their premium increases to be eligible for $250 million in new grants. Insurance companies with excessive or unjustified premium increases may not be able to participate in the new Affordable Insurance Exchanges in 2014.

    Learn how the law ensures value and accountability for your premiums

    Curbing the costs of insurance rates over time

    What This Means for You
    • Your insurance company can

  • #2

    (in before the failed lame attempts to spin.)

    To you I'm an atheist; but to God, I'm the Loyal Opposition.

    Comment


    • #3

      Hmmm.....always more sides to the story.

      http://blog.horizonblue.com/articledetails/increases-health-insurance-premiums-reality-check

      And, many employer provided plans are delaying premium increases by increasing co-pays.

      http://www.savitz.com/docs/2012\_SurveyReport.pdf

      And premiums to wage ratio is hurting lower wage employees significantly more,

      http://www.kff.org/insurance/ehbs091112nr.cfm

       

      So as usual, we're celebrating that only half the house was burned down, and the fire isn't out yet.

       

       

      22

      Attached Files

      Comment


    • #4

      Some healthcare costs may rise when "Obamacare" implemented: official

       

      WASHINGTON (Reuters) - President Barack Obama's top healthcare adviser acknowledged on Tuesday that costs could rise in the individual health insurance market, particularly for men and younger people, because of the landmark 2010 healthcare restructuring due to take effect next year.

      U.S. Health and Human Services Secretary Kathleen Sebelius said definitive data on costs will not be available until later this year when private health plans become authorized to sell federally subsidized coverage on new state-based online marketplaces, known as exchanges.

      "Everything is speculation. I think there's likely to be some shifting in the markets," she told reporters at the White House.

      The law, also known as "Obamacare," eliminates discriminatory market practices that have imposed higher rates on women and people with medical conditions.

      It also limits how much insurers can charge older people. But while the changes are expected to lower costs for women, older beneficiaries and the sick, men and younger, healthier people will likely see higher rates as insurers try to hedge against continued risks.

      "Women are going to see some lower costs, some men are going to see some higher costs. It's sort of a one to one shift ... some of the older customers may see a slight decline, and some of the younger ones are going to see a slight increase."

      Insurance premiums could rise for some with individual plans, she said, as Obama's Patient Protection and Affordable Care Act enhances the level of coverage and either eliminates or reduces the rate of price discrimination against people who are older, female or have preexisting medical conditions.

      "These folks will be moving into a really fully insured product for the first time, so there may be a higher cost associated with getting into that market," Sebelius said.

      But those who qualify for federal subsidies through state healthcare exchanges would still get a better deal, she said.

      Her remarks coincide with growing uneasiness about possible cost increases among lawmakers and executives in the $2.8 trillion U.S. healthcare industry.

      A new study released on Tuesday by the nonpartisan Society of Actuaries estimates that individual premiums will rise 32 percent on average nationwide within three years, partly as a result of higher risk pools. Changes would vary by state, from an 80 percent hike in Wisconsin to a 14 percent reduction in New York.

      Obama's healthcare restructuring, the signature domestic policy achievement of his first term, is expected to provide coverage to more than 30 million people beginning on January 1, 2014, both through the state exchanges and a planned expansion of the government-run Medicaid program for the poor.

      Subsidies in the form of premium tax credits, available on a sliding scale according to income, are expected to mitigate higher costs for many new beneficiaries.

      But the insurance industry, which is set to gain millions of new customers under the law, is warning of soaring premium costs next year because of new regulations that include the need to offer a broader scale of health benefits than some insurers do now.

      That has raised concerns about people with individual policies not subject to subsidies and the potential for cost spillovers into the market for employer-sponsored plans, which according to U.S. Census data, cover about half of U.S. workers.

      'LITTLE IMPACT'

      Sebelius dismissed the idea of significant change for employer plans, saying that market segment was "likely to see very little impact."

      Separately, a Democratic U.S. senator on Tuesday said the federal government has limited scope to help millions of people likely to remain without affordable health insurance under the new law.

      Senator Ron Wyden of Oregon, a member of the Senate Finance Committee, released a report submitted to the panel by the administration that outlines an "employee choice" policy that would allow some employers to offer a wider range of coverage choices to their workers at reduced rates for 2014.

      But Wyden said the approach would not help many of the nearly 4 million worker dependents who may have to forego subsidized private health coverage as a result of an IRS ruling.

      "Even in the states that allow for employee choice, it will be limited to a small number of workers," Wyden said.

      The law would have most people with employer insurance remain under their current plans. Workers can opt for subsidized coverage if their employer plan is unaffordable, but only according to a narrow definition of what is affordable.

      The IRS ruled in January that the cost of insuring a worker's family will be considered unaffordable if the employee's contribution to an individual coverage plan exceeded 9.5 percent of that person's income. That rule ignores the fact that family coverage is far more expensive than individual coverage.

      As a result, the nonpartisan Kaiser Family Foundation estimates that 3.9 million family dependents could be left unable either to afford employer-sponsored family coverage or to obtain federally subsidized insurance through an exchange.

      In its report to the Senate committee, Sebelius' department said some employers could claim a tax credit in 2014 to make coverage more affordable and offer workers a range of coverage plans through state-based exchanges.

       

       

       :mansurprised:

       

      Comment


      • #5

        .I don't believe costs will go down. They have gone up, they are going up, they will continue to go up. That's what we get in a for-profit system. We get to trickle up our hard-earned wages to people who work less and expect more. It's the new American way. Reagan would be proud.

        -----------------------------------------------------------------------------------------------------------------------------------

        "Faith ruled the Dark Ages."

        Comment


        • #6

          I'm still waiting for the liar TAH to tell us which insurance company he has that is lowering their premiums and/or co-pays.

           

           

          Comment


          • moonlightin
            moonlightin commented
            Editing a comment

            nedezero1 wrote:

            I'm still waiting for the liar TAH to tell us which insurance company he has that is lowering their premiums and/or co-pays.

             

             


            You'll be waiting a while... apparently he's been banned.


          • John Ellis
            John Ellis commented
            Editing a comment

            nedezero1 wrote:

            I'm still waiting for the liar TAH to tell us which insurance company he has that is lowering their premiums and/or co-pays.

             

             


             He's banned right now so it might be awhile


        • #7
          I've been saying this would be the case... colour me suprised
          I'm not a gynecologist, but I'll be glad to take a look

          Float like a butterfly, sting like VD

          What happens up north, stays up north

          Comment


          • Brave Ulysses
            Brave Ulysses commented
            Editing a comment

            And I've been saying this will be closer to the case......

             

            A watershed moment in the ongoing disaster of ObamaCare, as Health and Human Services Secretary Kathleen Sebelius finally admits that health insurance premiums are rising because of the President


        • #8

           

          Insurance companies bitching about actually having to cover people....LOL.

          Comment


          • Another Brick
            Another Brick commented
            Editing a comment
            The MSN article that John Ellis posted gives the excuse that "more sick people" are now getting healthcare. In America, the supposedly richest country in the world, is covering all of us bad?

          • Jack Walker
            Jack Walker commented
            Editing a comment

            SHRED wrote:

             

            Insurance companies bitching about actually having to cover people....LOL.


            Best thing we can do is cut them out of it all together. They don't care about us, why should we care about them?


        • #9
          Scrambling.

          Comment


          • #10

            willhaven wrote:

            Oh, would you look at that.

            I bet conservatives are both furious and scrambling for excuses.

             


            http://aspe.hhs.gov/health/reports/2013/rateIncreaseIndvMkt/rb.cfm

            Results

            Since 2010, there has been a decline in the proportion of rate filings in which the requested increase is at or above the Affordable Care Act threshold of 10 percent. In 2010, 75 percent of rate filings requested increases of 10 percent or more, a proportion that dropped to 34 percent in 2012 (See Figure 1).[5] The sharp drop in requests for increases of 10 percent or more is most likely the result of the increased scrutiny that rate increases of 10 percent or more now receive.

            Percentage of Individual Market Rate Filings with Rate Change Requests of 10 Percent or More
             
            Percentage of Individual Market Rate Filings withRate Change Requests of 10 Percent or More

            Although results for 2013 are still preliminary, the available data suggest that the slowdown in rate increases seen from 2010 to 2012 has continued into 2013. 


             

            Oh look.  A graph that starts at the crash.  Nothing to do with everyone being broke and the market reacting.

            Comment













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