Health Actuaries: Obamacare Rates Will Soar - up to 80%
THURSDAY, April 18, 2013 (Kaiser Health News) — Few aspects of the Affordable Care Act are more critical to its success than affordability, but in recent weeks experts have predicted costs for some health plans could soar next year.
Now health law supporters are pushing back, noting close ties between the actuaries making the forecasts and an insurance industry that has been complaining about taxes and other factors it says will lead to rate shock for consumers.
"Most actuaries in this country -- what percentage are employed by insurance companies?" Sen. Al Franken, a Minnesota Democrat, asked an actuary last week at a hearing of the Committee on Health, Education, Labor and Pensions.
The committee was discussing a study published last month by the Society of Actuaries (SOA) predicting that, thanks to sicker patients joining the coverage pool, medical claims per member will rise 32 percent in the individual plans expected to dominate the ACA exchanges next year. In some states costs will rise as much as 80 percent, the report said.
Funny watching the Libs scramble on this.............maybe they should have READ the bill before passing ?
When are people going to learn that Insurance companies are not part of the solution, they are part of the problem. When was the last time that anyone saw or heard of a Blue Cross organization laying anyone off ? or cutting back, streamlining, or trying to get more efficient ? It just isn't happening. They are guaranteed a profit based on a percentage of total revenue. The higher the revenue, the higher the profit. They just call it "excess revenue over expenses" and not profit. They look for excuses to raise rates and generally stack their BOD with union officials and politicians so they don't lose their base customers, municipal and state employees. All those people worried about a faceless civil servant deciding on your benefits from gov't controlled healthcare should consider that your benefits are now decided by faceless clerical staff and computer programs run by insurance companies with the sole intent of preventing you from receiving benefits. At least with gov't employees you can call your congressman (bought and paid for by the insurance industry).