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Obamacare Premiums to Skyrocket

Health insurance premiums will soar during the coming months, right as the 2014 election season gets underway, as insurers grapple with the failed rollout of Obamacare, according to an explosive article in The Hill.

Insurance industry officials tell the newspaper that premiums will double in some parts of the country, harming Democrats’ chances and hampering the next round of enrollment efforts in 2015.

The worries from the industry come less than a week after HHS Secretary Sebelius downplayed the problem, telling Capitol Hill that increases would grow more slowly than in the past.

From the piece:

“The increases are far less significant than what they were prior to the Affordable Care Act,” the secretary said in testimony before the House Ways and Means Committee.

Her comment baffled insurance officials, who said it runs counter to the industry’s consensus about next year.

“It’s pretty shortsighted because I think everybody knows that the way the exchange has rolled out … is going to lead to higher costs,” said one senior insurance executive who requested anonymity.

The spikes are a direct consequence of the delays and changes the White House made during the rollout, indicating the administration’s moves to calm political storms will backfire:

(Insurers) point out that the administration, after a massive public outcry, eased their policies to allow people to keep their old health plans. That kept some healthy people in place, instead of making them jump into the new exchanges.

Federal health officials have also limited the amount of money the government can spend to help insurers cover the cost of new, sick patients.

Perhaps most important, insurers have been disappointed that young people only make up about one-quarter of the enrollees in plans through the insurance exchanges, according to public figures that were released earlier this year. That ratio might change in the weeks ahead because the administration anticipates many more people in their 20s and 30s will sign up close to the March 31 enrollment deadline. Many insurers, however, don’t share that optimism.

These factors will have the unintended consequence of raising rates, sources said.

Amazing. Truly incomprehensible. We were told we would save money – in the realm of $2,500 per family. And yet, it’s going to cost more. And that’s before insurers start cutting services and coverage in order to make up the money they are losing.

The probable response here, given the Obama White House mindset, will be government mandates to force insurers not to raise rates. And then when the companies start to go out of business, calls for government to take them over.

And eventually – particularly given that Obamacare is failing at its core mission of covering the uninsured – demands for a single-payer program.

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31 Responses to Obamacare Premiums to Skyrocket

  1. Smoke and mirrors. ACA “brackets”. Kathleen Sell-bee-ess. Silly promos that demean the Presidency. An elimination tourney for pieces of the law that embarrass POTUS. And the White House band playing “Hail to the Chief” as this Titanic keeps ramming the ice berg.

    “March Madness”. Indeed…

  2. Very interesting, Keith. Yes, amazing and incomprehensible. Oh, so this may be why Barry and Kerry so eagerly chime in with these irresponsible EU leaders Ukrainan war rhetoric….. They need a shiny squirrel, well, many shiny squirrels…. .

      • Grace, thank you for informing me, I hadn´t heard of it yet. I hope you don´t find me lighthearted and easygoing on the issue but I believe that Putin just wants to send a stern warning to the west , don´t you try to NATO-fy the Ukraine. . My country has close bonds with, especially, Estonia, there are many Estonians living here , and I am sure they feel worried and uneasy about the events but I also believe that they want the war rhetoric to end , that everyone calms down. Biden is in Europe right now and I hear that he suggests American troops in the Baltics for security reasons.

  3. The talking points as they relate to ObamaCare have taken on a bizarre theme.
    No matter what negatives the insurance companies put out there regarding this crap legislation, no matter what negative stories the people tell, no matter how many DemoMonkeys’s who are in electoral trouble, back away from this monster; Sebelius, Obama and the rest of the RoboDemoMonkeys’ keep responding with the wonderfulness of ObamaCare and how they are going to run on it this year.
    Do they truly not know how ridiculous they sound? Is it that they don’t care? Or is the hope that if they keep repeating their mantra, it will actually turn out ok?
    This is what is leading America?

  4. Every political prophet, every nuanced seer of election returns are calling for a roust of Dems in Congress. All because of the dislike, uncertainty, and mistrust of the government program, Obamacare.

    And yet, the Dems running for their political lives this year are silent and hold an unbelievable trust that Obamacare doesn’t ruin lives, didn’t and won’t cost jobs, and that ordinary work-a-day people have thousands of dollars under their mattress to pay for deductibles charged by the ACA.
    Whatever their reasoning, as intelligent people who can and do read published accounts of how this law affects their constituents, and how much federal tax dollars are being spent for a tiny group of Americans.

    Even if the candidate for re-election voted in favor of the ACA, nothing but a bullheaded refusal to admit the obvious should keep them from announcing that this law is not doing what it was intended to do, and then join the Repubs in repealing the whole thing.

      • I think Rinse the Prius (the guy who heads up the RNC whose name I cannot retain) already jumped the shark and crowed early the other day. I saw an article about it the other day….

      • They already are Star, and have been.
        They are just as bad as the dems in trying to destroy the efforts of the conservatives and the Tea Party movement.
        The GOP has lost it’s ability to convince us that it is the party that can take this Country back from the cliff we are headed for.
        Their rhetoric is falling on deaf ears.
        Karl Rove and his ilk have proven that they are not to be believed.

  5. “It’s pretty shortsighted because I think everybody knows that the way the exchange has rolled out … is going to lead to higher costs,” said one senior insurance executive who requested anonymity.

    Shortsighted, huh. In the midwest, this is called a lie. On the east coast, spin.

  6. What he should have said…

    “Under my Obamacare plan, insurance costs will necessarily skyrocket. Because I’m requiring minimum coverage, individual plans, employer plans–you name it–whatever the policies were, whatever the coverage level was, they would have to provide government-mandated benefits. That will cost money. They will pass that money on to consumers.”

    No, Maobama did NOT actually say that: that’s a reworking of his remarks on cap and trade.

    But if he’d been as frank on insurance as he was with cap-n-tax, we wouldn’t be having this discussion.

  7. Obama told us we could keep our plans, our doctors and save $2500 per year. There is evidence that Obama knew none of that was true. Everything he told was was false. He told this to audiences when he spoke and he broadcast this on tv in speeches, interviews and weekly messages.

    I want to know why the FCC (or FTC?) doesn’t arrest and jail this man for fraud? If it were you or I, we’d be sitting in the pokey by now.

    • Since MANY people lost their jobs and the insurance (at that job), due to OMess. I think he should lose his job and insurance as well!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • Because it’s perfectly legal to lie during a campaign, per the Supreme Court.

      That may get another look–there’s a case out of Ohio that’s working its way through the SCOTUS sausage factory–but if in doubt, if it’s political, let it be said.

      I think the reason is that it’s up to the opposition to point out the truth, and what have you. And the Roberts court has already signaled that it’s in no mood to save the electorate from itself.