After rate hike rejected, Anthem to decrease premiums next year

[BWG]

Remember all the "DOUBLE DIGIT RATE HIKE" posts just a few weeks ago and the calmer voices saying they're just rate hike REQUESTS?

Well, at least one of them has been ruled on by their particular insurance board.



Anthem, the state’s largest insurer, initially requested approval to raise rates by an average of 12.5 percent. But the insurance department rejected the proposal and asked the company to resubmit its plan using different calculations.

The result: An average premium decrease of 0.1 percent for Anthem customers.


After rate hike rejected, Anthem to decrease premiums next year | The CT Mirror

 

[Threegoofs]

Thats just impossible. All the conservatives on this site and every GOP fanboy has assured me that premiums will skyrocket next year.

They assured me that premiums skyrocketed last year too, and despite any evidence to back that up, they seem quite certain about it. They also claimed that millions of people lost health insurance coverage and that we are all bankrupt because of Obamacare. Oh... and that the deficit would keep rising and inflation will be out of control by 2014.

Such a good track record... you have to go with it. Anthem should get on the gravy train and skyrocket their premiums, because the rest of the free market will certainly do so... based on the stellar WSJ/Conservative predictive track record.

 

[jaeger19]

Thats just impossible. All the conservatives on this site and every GOP fanboy has assured me that premiums will skyrocket next year.

They assured me that premiums skyrocketed last year too, and despite any evidence to back that up, they seem quite certain about it. They also claimed that millions of people lost health insurance coverage and that we are all bankrupt because of Obamacare. Oh... and that the deficit would keep rising and inflation will be out of control by 2014.

Such a good track record... you have to go with it. Anthem should get on the gravy train and skyrocket their premiums, because the rest of the free market will certainly do so... based on the stellar WSJ/Conservative predictive track record.

Ummm... not all conservatives on the site and not all the GOP "fanboys".. very few in fact.

 

[buck]

Remember all the "DOUBLE DIGIT RATE HIKE" posts just a few weeks ago and the calmer voices saying they're just rate hike REQUESTS?

Well, at least one of them has been ruled on by their particular insurance board.



Anthem, the state’s largest insurer, initially requested approval to raise rates by an average of 12.5 percent. But the insurance department rejected the proposal and asked the company to resubmit its plan using different calculations.

The result: An average premium decrease of 0.1 percent for Anthem customers.


After rate hike rejected, Anthem to decrease premiums next year | The CT Mirror

It's an average decrease, not based on enrollment numbers or how many customers will be seeing the premium difference but simply based on plan. The cat plans for those under 30 will be seeing the larges decrease, but also had the lowest enrollment.

The actual change will vary by plan. People who bought catastrophic policies -- which are limited to people under 30 or those whose old plans were discontinued -- will see a 15.47 percent rate decrease.

Regardless, lets look at why the commissioner made the decision and required Aetna to take into account:

He also concluded that insurers will be eligible for more federal aid in the case of large medical claims than companies assumed when calculating their rates.

As those "GOP fanboys" have been claiming all along, the big increases won't really hit until most of the bailouts are over in a year or two. Those bailouts are keeping the rates artificially low.

 

[Threegoofs]

Jaeger- see above for conspiracy theories of why we aren't seeing the rate increases that are inevitably going to skyrocket and doom our nation forever

 

[buck]

Jaeger- see above for conspiracy theories of why we aren't seeing the rate increases that are inevitably going to skyrocket and doom our nation forever

It wasn't a conspiracy.. It is what the commissioner that rejected the rates indicated.

Allow me to copy it directly frm the OP.. Yet again:

He also concluded that insurers will be eligible for more federal aid in the case of large medical claims than companies assumed when calculating their rates.

 

[Threegoofs]

Yes. The sky is falling.

Next year for sure!

 

[sangha]

As those "GOP fanboys" have been claiming all along, the big increases won't really hit until most of the bailouts are over in a year or two. Those bailouts are keeping the rates artificially low.

That's true. No one has been claiming that the rates won't increase by double digits in 2015. Especially not you

http://www.debatepolitics.com/obama...-double-digit-obamacare-premium-hikes-ny.html

 

[Greenbeard]

Similar thing (though not quite as pronounced) happened last month in Rhode Island when BCBS's final approved rate increase came in at only about half their request.

 

[buck]

Yes. The sky is falling.

Next year for sure!

Take it up with the commissioner in Connecticut, who indicated it.. I'm sure he has no idea what he's talking about.

 

[buck]

That's true. No one has been claiming that the rates won't increase by double digits in 2015. Especially not you

http://www.debatepolitics.com/obama...-double-digit-obamacare-premium-hikes-ny.html

Oh, rates will still increase in many areas by double digits... Not withstanding this one state and single insurance company. But, in this single state, one of the reasons the rates were rejected and Anthem had to recalculate, was due to the commissioner expecting more federal bailout of the company. Those bailouts will be going away shortly. Regardless... some states will not be able to reject the rate increase requests and other states will not modify the rate requests nearly this much.

Of course, you will still make the same claim you already made, ignoring the rest of the story as if you don't understand. and as you apparently don't realize this either.. NY and CT.. two different states. I'm glad I could help you in your learning process.

 

[Threegoofs]

Those rates are gonna increase!!! In 2011...errrr...2012....errr...2013....err...2014...errr.... WAIT TIL NEXT YEAR !!

 

[buck]

Those rates are gonna increase!!! In 2011...errrr...2012....errr...2013....err...2014...errr.... WAIT TIL NEXT YEAR !!

Actually, I've always indicated that rates will increase after the risk corridors have gone away. The risk corridors are keeping the rates lower than they otherwise would be - as confirmed in the OP and widely accepted by most (if not all) industry experts.. Many cites have been provided on this site by me and others.

There are a lot of parts involved. You and Sangha seem to be a little confused and only concentrating on one piece. For Sangha it was his belief that just because insurance rate increases are being held down in CT, it means that rates won't be going up quite a bit in other states and not realizing that some states can't stop the increases... For you, it seems to be that as rates aren't going up by double digits this year in CT (partially because of risk corridors) that they never will even once those bailouts go away.

 

[Threegoofs]

Actually, for me, it's because the cries of chicken little that have been screamed since about 2009 have been shown to be...well, calls that the sky is falling with no actual evidence that it is.

 

[jaeger19]

Yes. The sky is falling.

Next year for sure!

Are you stating that the federal aid couldn't be a factor in artificially holding rates down?

 

[jaeger19]

Actually, for me, it's because the cries of chicken little that have been screamed since about 2009 have been shown to be...well, calls that the sky is falling with no actual evidence that it is.

I see.. so that's why the President has suspended several provisions of the ACA or delayed implementation of those provisions. Its not because they caused a problem (such as some people losing their current plan or couldn't use a website that a monkey could have built in the time available) could cause a problem... its because the Presidents believes the sky is falling. :roll:

Is that it? Tell me.. if there are no problems with the ACA or potential problems... then why hasn't all provisions of the ACA taken effect on time?

 

[Threegoofs]

I see.. so that's why the President has suspended several provisions of the ACA or delayed implementation of those provisions. Its not because they caused a problem (such as some people losing their current plan or couldn't use a website that a monkey could have built in the time available) could cause a problem... its because the Presidents believes the sky is falling. :roll:

Is that it? Tell me.. if there are no problems with the ACA or potential problems... then why hasn't all provisions of the ACA taken effect on time?

Because, like most massive overhauls of systems, things don't work perfectly on rollout. You need to be flexible when implementing large changes. It's basic knowledge in business (and government).

Potential problems always exist. Everywhere and with everything. But the Chicken Little schtick is getting old.

 

[jaeger19]

Because, like most massive overhauls of systems, things don't work perfectly on rollout. You need to be flexible when implementing large changes. It's basic knowledge in business (and government).

Potential problems always exist. Everywhere and with everything. But the Chicken Little schtick is getting old.

Right.. and people need to point out those problems and potential problems do they not? And doing so.. like Buck just pointed out.. is not chicken little. Flexibility needs to go both ways.. and dismissing what appears to be a legitimate concern simply as "hysteria" does not do well for promoting flexibility.

 

[dogtowner]

So the state actuary buys Anthem down promising federal money.
And if the feds say no ?
And whats this catastrophic plan ? Those were outlawed.

More to this than presented.

 

[Born Free]

Actually, for me, it's because the cries of chicken little that have been screamed since about 2009 have been shown to be...well, calls that the sky is falling with no actual evidence that it is.

Right and Obama has made how many changes to Obamacare, maybe in the range of 40. Whey was that? Obama is chicken little.

 

[sangha]

Right.. and people need to point out those problems and potential problems do they not? And doing so.. like Buck just pointed out.. is not chicken little.

When people repeatedly make claims about impending disaster that never come to pass, it is reasonable to characterize it as "chicken little"

And buck hasn't pointed to any potential problem. What he did was mischaracterize the reason why Anthem's rate increase was denied. It wasn't because the feds would be "bailing out" Anthem. It was because Anthem, like buck, mischaracterized how the risk corridors work.

 

[buck]

And buck hasn't pointed to any potential problem. What he did was mischaracterize the reason why Anthem's rate increase was denied. It wasn't because the feds would be "bailing out" Anthem. It was because Anthem, like buck, mischaracterized how the risk corridors work.

Sure, that's what happened. :roll:

 

[sangha]

Sure, that's what happened. :roll:

And now you're back to repeating "Nuh-uh!"

 

[buck]

And now you're back to repeating "Nuh-uh!"

The insurance company will be eligible for a larger bailout then anthem originally accounted for, which was one of the reasons the premium request was modified. This came from teh insurance commissioner that indicated that Anthem had to modify their rates.

As for who mischaraterized those bailouts? It was neither me nor Anthem. At best, you can make an argument that the commissioner that ordered Anthem to re-submit their rate requests with modifications made the error - although since it's federal law it could be difficult.

You had so much wrong in that post.. Wrong that I suspect you can't even see... That I saw no reason to go intot oo much detail. But since you asked...

 

[ludin]

Actually, for me, it's because the cries of chicken little that have been screamed since about 2009 have been shown to be...well, calls that the sky is falling with no actual evidence that it is.

last time i checked there was more than 1 state. you are acting like this was all 50 states and all insurance companies.
it wasn't.

it was 1 insurance company in 1 state and the only reason they didn't get their rate increase was because of the federal bailout.
once that goes away they will get their 12+% increase.