Ohio suffers from Osambocare rate increases! 88% are you kidding me! Bait and Switch!
Democrats continue to try to dismiss the evidence that Obamacare will dramatically increase the cost of insurance for people who buy it on their own. But on Thursday, the Ohio Department of Insurance announced that, based on the rates submitted by insurers to date, the average individual-market health insurance premium in 2014 will come in around $420, “representing an increase of 88 percent” relative to 2013. “We have warned of these increases,” said Lt. Gov. Mary Taylor in a statement. “Consumers will have fewer choices and pay much higher premiums for their health insurance starting in 2014.”
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The rates that Ohio reported are proposed rates; the Department of Insurance still has to formally approve them. “A total of 14 companies proposed rates for 214 plans to the Department. Projected costs from the companies for providing coverage for the required [by Obamacare] essential health benefits ranged from $282.51 to $577.40 for individual health insurance plans.”
It’s called “rate shock,” but it’s not shocking to people who understand the economics of health insurance. In August 2011, Milliman, one of the nation’s leading actuarial firms, predicted that Obamacare would increase individual-market premiums in Ohio by 55 to 85 percent. This past March, the Society of Actuaries projected that the law would increase premiums in that market by 81 percent. Like good players on “The Price is Right,” they both came in just under the real figure, 88 percent.
Hey OLD MAN, exactly why does this inflame you, you're on Medicare, no? I don't buy it. ANY study that analyzes the Affordable Care Act without reading the entire bill and taking all of its effects into account can't be taken seriously as an evaluation of the consequences of this new law.
One of the main reasons why it took us more than half a century to get sweeping HC reform is because a complete overhaul of the existing system is ALWAYS a very complicated thing, so opponents can easily single out one or the other provisions that increases costs and then use it as an argument to oppose the law, EVEN when analyses that look at the entire bill come to conclusions that are exactly the opposite.
For the moment, ALL the independent studies that analyzed the ENTIRE law concluded that cost increases would be VERY low for most of the American people, whereas millions of Americans would see their costs go down. The day an independent studies examines the entire law and comes to a different conclusion, Obama and the Dems will have a problem. Until then, they may be VERY proud of what they've achieved. And, looking at the big picture, pizzed off many repukes, they tried to repeal it 27 times, just think what they could have accomplished if they voted to repeal the Patriotic Act 37 times.