Healthcare expert says some insurers could hike premiums by more than 10 percent
Those signing up for Obamacare are more so the “frequent fliers” than the young, healthy millennials the Obama administration was banking on to keep its disastrous health-insurance scheme afloat. Consequently, health-insurance companies are alleging they need to hike their premiums – some in excess of 10 percent, says one healthcare expert – to make up the difference and offset unexpected costs.
The people signing up for Obamacare so far are sicker than expected, meaning insurers will have to raise rates to cover the costs, in what nonpartisan analysts said amounts to a “market correction.”
Even as insurers grapple with a most costly population, they are about to lose some of the supports built into Obamacare that have helped mitigate their losses in the first couple of years of operation.
“That could result in many insurers having rate increases that exceed 10 percentage points,” said Cynthia Cox, associate director of health care reform and private reform at the nonpartisan Kaiser Family Foundation.
Obamacare is not the answer to our healthcare challenges – it’s failing to create a competitive marketplace that would drive costs down for Americans. It’s a bureaucratic health-insurance nightmare full of red-tape that is driving costs up; driving family practice physicians out of business; and encroaching on Americans’ personal healthcare decisions and freedom of conscience. Click here to help Tea Party Patriots encourage our lawmakers to fully repeal Obamacare – pronto!