Health Insurers Seek Hefty Rate Boosts

[Jesus Malverde]

Major insurers in some states are proposing hefty rate boosts for plans sold under the federal health law, setting the stage for an intense debate this summer over the law’s impact.

In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016. The biggest insurer in Tennessee, BlueCross BlueShield of Tennessee, has requested an average 36.3% increase. In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products. Moda Health, the largest insurer on the Oregon health exchange, seeks an average boost of around 25%.

All of them cite high medical costs incurred by people newly enrolled under the Affordable Care Act.

Under that law, insurers file proposed rates to their local regulator and, in most cases, to the federal government. Some states have begun making the filings public, as they prepare to review the requests in coming weeks. The federal government is due to release its rate filings in early June.

http://www.wsj.com/articles/health-insurers-seek-hefty-rate-boosts-1432244042

[RadiationTherapy]

1. Oh, but they will settle for a measly 12.5-25% increase.

They are willing to compromise! hahaha

[Recursion]

2. Yep. Now they have to ask permission and justify them. Much better, isn't it?

HHS will probably tell them to go piss up a flagpole, like they did last year.

[Thav]

3. Yup, mine wants 26%

And the claims look a little dubious. "8.5% for medical care usage, another 11% for medical care costs" so 17.5% more because people are actually using the product?

If I told my clients that I was raising my rates by 25% because they were using my services, they'd hit the roof.

Single payer please!

[meaculpa2011]

6. Your clients aren't required...

by law to buy from you.

Neither are mine, though I'd support that.

[kentuck]

4. Is anyone surprised?

When the profit motive is involved, it is to be expected.

[GummyBearz]

5. At least its not mandatory to hav... oh shit

We wanted universal health care, got mandatory health insurance, and a mandatory kick to the balls

[Jesus Malverde]

7. +1