Leave it to the Left to come up with an Orwellian name for a program, the Affordable Care Act.
It’s not affordable, of course. And as rationing kicks in and insurers narrow their networks, there will be less care as well.
A new survey by Morgan Stanley – I’ll check, but I don’t think they’re funded by the Koch brothers – finds that health insurance premiums are increasing at perhaps the highest rate ever, according to an analysis of the study by Forbes.
From the piece:
The average increases are in excess of 11% in the small group (small business) market and 12% in the individual market. Some state show increases 10 to 50 times that amount. The analysts conclude that the “increases are largely due to changes under the ACA.”
The analysts conducting the survey attribute the rate increases largely to a combination of four factors set in motion by Obamacare: Commercial underwriting restrictions, the age bands that don’t allow insurers to vary premiums between young and old beneficiaries based on the actual costs of providing the coverage, the new excise taxes being levied on insurance plans, and new benefit designs.
For the individual insurance market (plans sold directly to consumers); among the ten states seeing some of the sharpest average increases are: Delaware at 100%, New Hampshire 90%, Indiana 54%, California 53%, Connecticut 45%, Michigan 36%, Florida 37%, Georgia 29%, Kentucky 29%, and Pennsylvania 28%.
For the small group market, among the ten states seeing the biggest increases are: Washington 588%, Pennsylvania 66%, California 37%, Indiana 34%, Kentucky 30%, Colorado 29%, Michigan 27%, Maryland 25%, Missouri 25%, and Nevada 23%.
Below, a couple of Wall Street Journal reporters discuss the rate increases in New Hampshire, where only one insurer participated in the exchange and premiums for individual buyers are set to group 90 percent.
You know why this is happening? You know why?
BECAUSE NOTHING IN LIFE IS FREE. Someone has to pay for Obamacare and the government-planned, inefficient way it expands access to health insurance. And that’s gonna be you.