tskeeter
Junior Associate
Joined: Mar 20, 2011 19:37:45 GMT -5
Posts: 6,831
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Post by tskeeter on Jun 10, 2015 17:16:04 GMT -5
In a recent Forbes article, it's being reported that many of the largest ACA insurers (read those insurance companies with the most experience) are asking for double digit premium increases for 2016. Increases ranging from 14% to 36% for the states that have relesed data. Ouch! Why? Because the gaurantees that have covered the insurance company losses since the ACA was enacted will end at the beginning of 2017. Obviously, insurance companies are increasing rates now to prevent having to annouce massive, massive rate increases in mid 2016, when the 2017 rates will be released.
Will be interesting to see where the money to cover the premium increases will come from. Will it come from the taxpayers, in the form of subsidy increases? Will it come from the insured, in the form of premium increases? A combination of the two?
If the rates increases are passed along to policy holders, will the ACA live up to it's press of being affordable? (Seems like quite a few reports already indicate the affordable concept is kind of sketchy. Even at today's premiums.) Or will the true cost of the ACA force many people who have received medical coverage under the ACA to go without insurance? Failing at the ACA's stated objective of providing medical coverage to those who can't afford it? Will the millions people who were able to decide to quit working because of access to low cost medical insurance be forced back into the workforce?
I think the overall question is whether the ACA will live up to the administration hype, or whether it will turn out to be a massive, too good to be true, financial albatross that hangs on the neck of the country for the next several decades. I'm thinking it'd be better for all of us if the hype was true instead of being faced with an albatross. But, at this point, I'm not betting on the hype.
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Deleted
Joined: Apr 29, 2024 11:23:18 GMT -5
Posts: 0
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Post by Deleted on Jun 10, 2015 17:20:42 GMT -5
We did this a few days ago. I think there are some misconceptions there...
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tskeeter
Junior Associate
Joined: Mar 20, 2011 19:37:45 GMT -5
Posts: 6,831
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Post by tskeeter on Jun 10, 2015 17:32:24 GMT -5
Well, gee. It sounds like I missed all the fun.
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kent
Senior Member
Joined: Dec 20, 2010 16:13:46 GMT -5
Posts: 3,594
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Post by kent on Jun 10, 2015 17:36:15 GMT -5
It's also interesting to postulate what will happen if the SCOTUS rules subsidies are unconstitutional.
If that happens, the defecation will hit the rotary oscillator.
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Deleted
Joined: Apr 29, 2024 11:23:18 GMT -5
Posts: 0
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Post by Deleted on Jun 10, 2015 18:07:13 GMT -5
I'm trying to find it?
One issue sue is that the reason the big rate requests are happening now is they HAVE to be submitted early, because they go through a different review process. Not all rate increases are going to be in this level. And it's not even sure these will.
Plus us there were things like one of the highest adjustments was for a platinum plan, likely small, sicker, pool, etc.
Im not sure where the discussion was...
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