One of President Barack Obama’s promises when he ran for office was affordable healthcare — for everyone.
The poorly named Affordable Care Act has been everything but affordable for many who already struggle from paycheck to paycheck.
As the years roll on and expenses begin to pile up, we are beginning to see the toll his hope and change is taking on working Americans.
Health insurance companies are now looking at rate increases of 20 percent to 40 percent or more, claiming new customers under the ACA turned out to have more health issues than expected. (H/T WZ)
Major market leader Blue Cross and Blue Shield said it’s seeking rate increases that average from 23 percent in Illinois to 54 percent in Minnesota, according to records posted online by government and state insurance administrators.
Oregon’s commissioner for insurance, Laura N. Cali, approved rate increases for companies covering over 220,000 customers. Moda Health Plan, the largest in the state, received a 25 percent increase; and LifeWise, the second-largest in the state, received a 33 percent increase.
These are just two examples of the rate increases seen across the country.
A study conducted by the Kaiser Family Foundation concluded that customers in 11 cities in different states would see fairly modest increases in premiums if they switched plans.
However, switching plans doesn’t guarantee that they can keep their doctors. Additionally, lower premiums often mean a limited choice of doctors and hospitals.
Insurers claim several reasons for rate increases which include the needs of customer who had no previous coverage, the soaring cost of specialty drugs, and a policy the Obama administration adopted in 2013 that allowed some to keep insurance even though it did not meet federal standards.
Other reasons for the rate increases include the failure of Obama to recruit young people to sign up for any health insurance at all. Because the president’s plan hasn’t attracted enough healthy, young people “millions of people will face Obamacare sticker shock,” said Republican Sen. John Barrasso.
Yet the president continues to claim his unaffordable plan is affordable and working for the American people.
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