Obamacare Fail – Insurance Companies Want To Increase Premiums Up To 50%
It as been forecasted by economists, insurance professionals, government watchdogs and medical practitioners that once ObamaCare was fully implemented the cost to provide healthcare regardless of the false and misleading promises would inevitably rise.
And now that ObamaCare is officially the law-of-land, insurance companies around the country are seeking rate increases of up to 50% because Americans apparently are a lot sicker then previously noted, or perhaps a more fitting way of explaining the substantial increase, is that the American people were simply sold a “bill-of-goods”
Blue Cross and Blue Shield for example are seeking rate increases that will average around 23% in Illinois, 25% in North Carolina, 31% in Oklahoma, 36% in Tennessee, and a whopping 54% in Minnesota
And in Oregon the insurance commissioner has just approved the 2016 rate increases for companies with more than 220,000 employees anywhere from 25-33% depending on the individual’s insurance plan
Health advocate Jesse O’Brien said: “Rate increases will be bigger in 2016 than they have been for years and years and will have a profound effect on consumers here. Some may start wondering if insurance is affordable or if it’s worth the money.”
However pushing for a rate increase and actually being successful may prove to be an overwhelming challenge and the actual effectiveness of the health law, now that real data is being reviewed.
Moreover states that set insurance rates may find themselves at opposite ends of the dollar curve with insurance companies in terms of profitability which is the cornerstone of every private business to remain viable. This may precipitate a mass exodus by insurance companies from Obamacare, putting the program in a death spiral. And perhaps that been the game plan all along in making ObamaCare unworkable and forcing the healthcare system into total government control system.
The administration devised a strategy that for the first two years of the program, companies promised the government that they would keep increases to a minimum. Now that actual reality is setting in, not even money from the ObamaCare slush fund that reimburses companies for their losses is enough to make them a profit.
h/t: American Thinker