From 2012 to 2017 - years when premiums doubled under Obamacare - enrollment in short-term plans climbed more than 120%. Short-term plans are far cheaper because they don't have to include all Obamacare's mandated benefits, and they can set their premiums based on risk.
This new rule would allow junk insurance that would rip consumers off! And it would siphon off all the young and healthy people out of the Obamacare exchanges!! And that would force Obamacare premiums to go through the roof!!!
These experts warned states that if they didn't step in to impose their own restrictions on short-term insurance in order to "Protect consumers," then "Premium costs for ACA-compliant coverage are likely to rise."
Nine states - California, Hawaii, Illinois, Maryland, Vermont, Colorado, Delaware, New Mexico, and Washington - and D.C. listened to these experts and imposed their own restrictions - of varying severity - on short-term plans.
Based on the data currently available, the average proposed rate hike in the nine "Protect consumer" states plus D.C. is 2.9%. Not bad. Except that the average rate request for the "Sabotage" states is a decrease of 0.5%. The biggest proposed rate hike in the "Sabotage" states is Kentucky at 5%. Six "Sabotage" states show rate cuts.
In 10 states, there are no short-term insurance options available at all, either because the states banned them outright or regulated them out of existence.
The results so far strongly suggest that the "Experts" had it exactly wrong when they predicted doom and gloom by giving consumers a way out of Obamacare.
https://issuesinsights.com/2019/08/07/the-obamacare-experts-are-wrong-again/
This new rule would allow junk insurance that would rip consumers off! And it would siphon off all the young and healthy people out of the Obamacare exchanges!! And that would force Obamacare premiums to go through the roof!!!
These experts warned states that if they didn't step in to impose their own restrictions on short-term insurance in order to "Protect consumers," then "Premium costs for ACA-compliant coverage are likely to rise."
Nine states - California, Hawaii, Illinois, Maryland, Vermont, Colorado, Delaware, New Mexico, and Washington - and D.C. listened to these experts and imposed their own restrictions - of varying severity - on short-term plans.
Based on the data currently available, the average proposed rate hike in the nine "Protect consumer" states plus D.C. is 2.9%. Not bad. Except that the average rate request for the "Sabotage" states is a decrease of 0.5%. The biggest proposed rate hike in the "Sabotage" states is Kentucky at 5%. Six "Sabotage" states show rate cuts.
In 10 states, there are no short-term insurance options available at all, either because the states banned them outright or regulated them out of existence.
The results so far strongly suggest that the "Experts" had it exactly wrong when they predicted doom and gloom by giving consumers a way out of Obamacare.
https://issuesinsights.com/2019/08/07/the-obamacare-experts-are-wrong-again/
No comments:
Post a Comment