When I saw that the paper writing the article was the Baltimore Sun, I immediately began to prepare myself for all the anti Trump bashing. Amazingly, there was absolutely none. The State of Maryland is coming to grips with the reality that is Obamacare. They went from 6 insurance companies on the Exchange in 2015 to just 2 remaining companies. Both admit they are losing hundreds of millions of dollars 💵 by participating.
Costs are going to skyrocket next year between 23% and 50% in MD. They hope Congress can fix it but we at CTH and our President know you can’t fix a DEAD 💀 Carcass. All this talk about Congress coming back and working on a bipartisan bill to guarantee the CSR payments in 2018 means nothing. The reality facing folks in MD and across our country is that premiums are going to skyrocket this year even with the CSR payments being guaranteed.
From the article linked above:
The cost of premiums for plans sold on the state’s health exchange will soar for 2018, adding to questions about the stability and affordability of the health insurance program known as Obamacare.
State regulators announced Tuesday that they have approved average rate increases of just over 23 percent to nearly 50 percent, depending on the plan and carrier, increases that surely will burden consumers who get no government subsidies but also potentially still leave insurers in the red.
“Rates for individual plans have gone up well over 100 percent in 4 years,” said Chet Burrell, president and CEO of the state’s dominant insurer, CareFirst BlueCross BlueShield. “It’s the worst of all worlds now with very high premiums and at the same time carrier losses continue.”
The two insurers that continue to offer coverage on the exchange — CareFirst and Kaiser Foundation Health Plan of the Mid-Atlantic States — have told the Maryland Insurance Administration that they have lost a combined $447 million since policies began selling under the Affordable Care Act in 2014.
Calling the latest rate increases “disturbing,” Al Redmer Jr., the state’s insurance commissioner, said they will mean consumers will have to make difficult choices about what care they buy or don’t buy.
“The losses incurred by carriers since the beginning of the Affordable Care Act are unsustainable, and premium increases that are the result of that are also unsustainable,” he said. “So it’s critical that folks in D.C. put aside their political differences and fix this thing. Otherwise, it will implode.”
“We have reached the point where individual health care premium rates are too high to be readily affordable by the general public,” said Burrell, who anticipates more healthy people dropping coverage. “The rapid rise in these premiums puts coverage out of reach for many — especially those who do not qualify for federal subsidies.”
“The state’s decision will have devastating consequences for consumers and the long-term sustainability of the individual market,” said Leni Preston, president of Consumer Health First.
HERE IS THE KILLER PARAGRAPH (THESE INCREASES WERE NOT CAUSED BY OUR PRESIDENT’S THREATS OF STOPPING THE CSR PAYMENTS):
Insurance regulators assumed that the Trump administration will continue to pay subsidies but that some people, particularly those who are healthy, just won’t buy the more costly insurance with little fear of repercussions.
I also decided to check the comments out. Pleasantly surprised 😳 that many where anti Barry from Kenya 🇰🇪. Even the loyalist sounded like fools trying to blame our President.
Sad to say these are the rates that my accountant and I expected allowing me to restructure my business so I am now in the “hardship waiver” category, so goodbye to this mess and hello to cheap alternatives. Don’t worry Harry, I have the funds to get sick, and if I do really get sick, no problem, I will get back on Obamacare – but only if I get sick. Isn’t that great? Just what you defend? Now we are on the same page-finally. Hello to a better vacation next year, saving 10,000 dollars!!!!!
I think the community organizer Obama got schooled pretty good on this big community fraud.
Another foreseeable nail in the coffin in what future failures will be compared to which is Obamacare. Brought to you by the captain of the rudderless ship of adm. Even his lies of lower cost and subsequent *S. But wait, there are a few more shoes to drop. Besides 30% plus increases for next year, we will have more examples of why you can’t keep your old plan. But, we won’t spoil; the shoe drop. We will see more screw loose progressives slithering away from the captain’s failed attempt at HC.
What is really funny. Is how the donkeys are trying to blame Obamacare failures on the GOP. Or, to blame President Trump’s failure not to fix it. Let us see. President Trump has been in office for 8 months. President Obama was in office for 8 years. He took almost took 4 yrs. to roll out this failure. We have had system crashes, cost over runs, bankrupt insurance carriers and 100% increase in premiums. What is the legal name of Obamacare? Affordable care act? Really?? What happened to $2,500 reduction in premiums? Oh yeah the *. Okay what happened to the * ? 100% increase in premiums. 100% increase in premiums when you have some of the lowest inflation in years. All brought to you by the captain of the rudderless ship.