Tuesday, August 16, 2016

If You Like Your Premiums

Swing states feel the pain of Obamacare hikes:
The Heritage Foundation found dramatic increases on premiums in Wisconsin and Florida as well as Michigan, Virginia, Pennsylvania, and North Carolina under the law in comparison to before Obamacare went into effect. Currently, insurers in the Obamacare marketplace in North Carolina, Ohio, Pennsylvania, and Illinois are wanting double-digit hikes on premiums.

Blue Cross and Blue Shield of North Carolina is reportedly requesting to increase rates by more than 18 percent, while in Ohio, the average requested hike is around 10 percent. In Pennsylvania, companies want hikes averaging 23.6 percent, according to the Pennsylvania Insurance Department.

The next president may face the meltdown of Obamacare, as Aetna announced on Tuesday that it’s pulling back coverage in 15 states and will only remain in four states due to a $200 million dollar loss.

The Obama administration argues that Aetna’s move isn’t a sign of trouble for Obamacare, according to The Hill.

“Aetna’s decision to alter its Marketplace participation does not change the fundamental fact that the Health Insurance Marketplace will continue to bring quality coverage to millions of Americans next year and every year after that,” stated Kevin Counihan, CEO of ObamaCare marketplace.
For as long as it lasts?

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