A new report in The Free Beacon citing insurance commissioners reveals that health insurers in several states have requested double-digit premium hikes for Obamacare plans next year:
Health insurers in Washington, D.C., Oregon, and Vermont have requested double-digit premium rate increases for Obamacare plans next year, according to state and district insurance commissioners.
In Oregon, there were eight health insurers participating in the individual market that requested premium rate hikes ranging from 6.9 percent to 21.8 percent.
"This year's rate requests follow two years of significant rate increases as insurers have adjusted to changes in the individual market," said the state insurance commissioner. "Rates increased an average of 23 percent in 2016 and 27 percent in 2017."
Health insurers in Washington, D.C., Oregon, and Vermont have requested double-digit premium rate increases for Obamacare plans next year, according to state and district insurance commissioners.
Premiums are continuing to increase due to higher-than-expected medical claims, declining participation of insurers, and the end of federal programs that mitigate risk for insurers. Insurers are also faced with increasing uncertainty as to whether the cost-sharing subsidies will be made and what will happen to the individual mandate.
"We continue to be concerned about the level of choice for Oregonians across the state," said Patrick Allen, director of the Department of Consumer and Business Services in Oregon. "In the coming weeks, we will be exploring our options to ensure all Oregonians have access to plans that fit their needs." [...]
BlueCross BlueShield requested a premium rate hike of 12.7 percent in Vermont, and MVP Health Plan Inc. requested an increase of 6.7 percent.
BlueCross Blue Shield, which is the largest insurer in Vermont, said that most of the increase in premiums was not due to direct health care services, but the federal insurer tax which was mandated by Obamacare.
"Our hospitals and providers have done admirable work controlling their costs; however, there are other forces impacting premiums, like the federal insurer tax, the cost shift, and the needs of our aging population," said Don George, president and CEO of the company's Vermont division. "This is not welcome news for our members, but we take seriously our obligation to be upfront about the dynamics that are driving up health care premiums."
The report adds that in Washington, D.C., CareFirst BlueCross Blue Shield and Kaiser Permanente "have requested rate hikes ranging from 13 to 39.6 percent." That is simply breathtaking.
Obamacare has been the gift that keeps on giving, and Republicans need to put the kibosh on it STAT.