Individual Health Policy Premiums Going Up

From The Blaze.com (March 26):

WASHINGTON (AP) — Insurance companies will have to pay out an average of 32 percent more for medical claims on individual health policies under President Barack Obama’s overhaul, the nation’s leading group of financial risk analysts has estimated.

That’s likely to increase premiums for at least some Americans buying individual plans.

The report by the Society of Actuaries could turn into a big headache for the Obama administration at a time when many parts of the country remain skeptical about the Affordable Care Act.

While some states will see medical claims costs per person decline, the report concluded the overwhelming majority will see double-digit increases in their individual health insurance markets, where people purchase coverage directly from insurers. [read more]

The Act should be called the Unaffordable No-care Act. The article goes on to say that by 2017 estimated increase would rise to 62% for California (Wow! Those CA residences are really going to be stuck with high costs. Then again maybe that’s what they want.) 80% for Ohio, and more than 20% for Florida and 67% for Maryland. The premiums for most states goes up. New York premiums goes down –13.9%. The Society of Actuaries has an infographic where you can look at all the states premium changes.

So, what’ll happen is this: Most people will pay the gov’t fine for not having insurance which is less than the insurance premiums. That drives out the insurance companies eventually. Then the gov’t increases its fine because now it is a health insurance monopoly. Which is what The Left always wanted.

Still think the private sector can compete against the public sector? It can’t. The public sector makes the rules.

I wish this was an April Fool’s joke. But it isn’t. The joke is on the taxpayer.