Already? Obamacare 2015 premiums begin to roll out

[buck]

Obamacare premiums for 2015 begin to roll out
Some 2015 premium rates have begun to come in:

Anthem HealthKeepers—which insures about 110,000 people in Virginia—told the state that its premiums would jump an average of 8.5 percent there, The Wall Street Journal reported Monday.

But there was a wide range of price jumps that individual buyers of Anthem HealthKeepers policies will actually see. While some customers may have rate hikes of just 0.5 percent, others will be faced with a bill that is 16.6 percent higher, the Journal said.

Another insurer in Virginia, CareFirst Blue Choice which covers 32,000 people, has filed plans to hike premiums by 14.9 percent, the Journal reported. A third insurer, Kaiser Foundation Health Plan of the Mid-Atlantic States, has a filed for a 3.3 percent increase for its policies, which currently are held by about 10,000 people in Virginia.

Looks like some big increases coming. Many double digit.

Molina apparently was way overpriced (read: far more expesive then others in teh market) last year. They are now bringing their rates down to what other companies are charging:

In the Northwest, one insurer, Molina Healthcare of Washington, has proposed a premium rate decrease—read that again, decrease—next year of 6.8 percent.

The increases range from 0.57 percent, proposed by the Kaiser Foundation Health Plan of the Northwest, to 14.2 percent by Group Health Options. The second-highest proposed hike was 11.2 percent by Group Health Cooperative, while the Community Health Plan of Washington is proposing an 8.4 percent increase.

As that cost curve continues to bend down and we don't even have premium estimates for the states expected to see the highest increase just yet.

 

[sangha]

I miss the days before ACA, when premiums never increased

 

[buck]

I miss the days before ACA, when premiums never increased

So much for bending that cost curve down, no? How's that 2500 premium savings working out? from less than 6% increases pre-obamacare (2006+) to higher increases post-obamacare. Finally, that's employers based coverage - completely different situation. Shrug.

 

[sangha]

So much for bending that cost curve down, no? How's that 2500 premium savings working out? from less than 6% increases pre-obamacare (2006+) to higher increases post-obamacare. Finally, that's employers based coverage - completely different situation. Shrug.

My premium went down. Not $200/month, but it's working out OK for me

Thanks for asking

 

[buck]

My premium went down. Not $200/month, but it's working out OK for me

Thanks for asking

I didn't realize Obama said Sangha would see his premium decrease by 2500 (which apparently it didn't even do)... My bad.

 

[Greenbeard]

Washington's individual market numbers aren't all that surprising. Most plans (by enrollment) are seeing increases in the low single digits or below (Molina: -6.8%, Moda: 0%, Kaiser: 0.57%, Bridgespan: 1.7%, Asuris: 3.9%, Regence BlueShield: 5.1%).

A few are in the 8-10% range (Community Health Plan, Lifewise, Regence BCBS), and then a few in the low double digits (the Group Health plans and Coordinated Care). Unsurprisingly, enrollment in the plans with only small increases is 2.5-3 times enrollment in the plans seeing larger increases. So the weighted average is actually fairly low. And these are filed rates, meaning some are likely to be approved lower than requested.

What's really surprising is the small group rate filings: an unexpected number of rate decreases for existing plans. (The small group market is much more stable and established than the individual market, which obviously is seeing a huge amount of flux over the 2014-16 period.)

Kaiser: -2.3%
Group Health Options: -1.5%
Regence BCBS of OR: -4.4%
Asuris: -0.5%
Regence BlueShield: -10.9 (!) (especially interesting, since the state's benchmark for essential health benefits was tagged to a Regence BlueShield product)

In fact, it looks like only three are showing increases next year (Group Health Cooperative: 3%, UnitedHealthCare: 5.11%, Premera Blue Cross: 5.4%)--modest increases at that. An interesting indicator.

 

[buck]

Washington's individual market numbers aren't all that surprising. Most plans (by enrollment) are seeing increases in the low single digits or below (Molina: -6.8%, Moda: 0%, Kaiser: 0.57%, Bridgespan: 1.7%, Asuris: 3.9%, Regence BlueShield: 5.1%).

A few are in the 8-10% range (Community Health Plan, Lifewise, Regence BCBS), and then a few in the low double digits (the Group Health plans and Coordinated Care). Unsurprisingly, enrollment in the plans with only small increases is 2.5-3 times enrollment in the plans seeing larger increases. So the weighted average is actually fairly low. And these are filed rates, meaning some are likely to be approved lower than requested.

What's really surprising is the small group rate filings: an unexpected number of rate decreases for existing plans. (The small group market is much more stable and established than the individual market, which obviously is seeing a huge amount of flux over the 2014-16 period.)

Kaiser: -2.3%
Group Health Options: -1.5%
Regence BCBS of OR: -4.4%
Asuris: -0.5%
Regence BlueShield: -10.9 (!) (especially interesting, since the state's benchmark for essential health benefits was tagged to a Regence BlueShield product)

In fact, it looks like only three are showing increases next year (Group Health Cooperative: 3%, UnitedHealthCare: 5.11%, Premera Blue Cross: 5.4%)--modest increases at that. An interesting indicator.

Yes, Molina was overpriced originally, they are now settling into what other carriers are charging.

New rates depend on the old rates

As The Wall Street Journal reported Monday, Molina Healthcare submitted a 6.8 percent decrease in rates for its Washington customers. Insurers like Molina who priced "cautiously" (as in, too high) last year are facing pressure to be more competitive this year. Molina also found that their enrollees are healthier than they expected, and they'll gain more healthy customers when the individual mandate fine increases. Meanwhile, insurers in the area who released lower 2014 rates are raising prices. Washington's Group Health Cooperative, which had some of the lowest priced 2014 plans, is planning to raise its prices by 11.2 percent.

Will have to look at the entire picture. Not just one state.

Some states are predicted to see hikes

As the National Journal points out, some states experienced a series of factors that will likely lead to higher premiums. West Virginia is rural, has a relatively unhealthy population, only enrolled 60 percent of its enrollment target and only 19 percent of those enrolled are in the 18 to 34 range. The state also only has one insurer, meaning competition is low. Also, states that embraced the cancelled plan fix may also see some increases, since the people most likely to accept that option were younger.

 

[Greenbeard]

Will have to look at the entire picture. Not just one state.

No kidding. Let me you let you in on a little secret: there are over 500 rating areas and nearly 300 insurers (not counting the ones entering state exchanges this year) in the exchanges. You're going to be able to find insurers that raise rates somewhere (even double digits!), you're going to be able to find insurers that lower rates somewhere.

Exchanges plans are already 15-16% below expectations on average and 4-20% below equivalent employer-based plans. When the dust settles in mid-September, we'll likely find that the average increase across all existing plans for 2015 is between 2 and 7 percent.

 

[buck]

No kidding. Let me you let you in on a little secret: there are over 500 rating areas and nearly 300 insurers (not counting the ones entering state exchanges this year) in the exchanges. You're going to be able to find insurers that raise rates somewhere (even double digits!), you're going to be able to find insurers that lower rates somewhere.

Exchanges plans are already 15-16% below expectations on average and 4-20% below equivalent employer-based plans. When the dust settles in mid-September, we'll likely find that the average increase across all existing plans for 2015 is between 2 and 7 percent.

Comparing to employer based plans doesn't work. Different coverages, different pools and far different networks. A lot of the savings is attributed to the network size.

Companies increasing rates will far and away outpace companies reducing rates - but you are correct. There were some that came in too high in 2014 and will be able to adjust down to the already (on average) increased rates from 2014.

And finally, 7% is still high... but I would take the over on that.

 

[tres borrachos]

Obamacare premiums for 2015 begin to roll out
Some 2015 premium rates have begun to come in:





Looks like some big increases coming. Many double digit.

Molina apparently was way overpriced (read: far more expesive then others in teh market) last year. They are now bringing their rates down to what other companies are charging:


As that cost curve continues to bend down and we don't even have premium estimates for the states expected to see the highest increase just yet.

What happened to this bill making insurance affordable?

 

[Born Free]

What happened to this bill making insurance affordable?

I was wondering the same thing, we now have higher taxes spread across areas that there was no tax before Obamacare and premiums are going up, not down. And lets not forgot there are still 30 - 40 million people that still don't have healthcare, which Obamacare was supposed to insure. What's with that. And millions of people got their insurance cancelled because of Obamacare and their are millions more to be cancelled in the future once Obama stops changing the rules. Last how many billions is Obama spending tax payer money to get Obamacare up and running?

Obamacare is causing far more damage than good. All liberals have to tout is "preconditions" which could have been solved without turning healthcare upside down and costing billions of tax payer dollars.

Liberalism at it's worst.

 

[MTAtech]

...
Companies increasing rates will far and away outpace companies reducing rates...

and you know this how, exactly?

 

[buck]

and you know this how, exactly?

Because I follow what's going on. Would you care to make some form of bet on it?

 

[MTAtech]

Because I follow what's going on. Would you care to make some form of bet on it?

That's a cop-out answer. The data to make that judgment is not yet available. It's more likely you just are stating what you "think" instead of what is.

 

[buck]

That's a cop-out answer. The data to make that judgment is not yet available. It's more likely you just are stating what you "think" instead of what is.

Listening to what the insurance companies are saying, what the analysts are saying and other pieces of information, including the proposed rates that have so far been released. We'll know in the results in a week or so... So, you have to decide fairly quickly... Would you care to make some form of bet on it?

 

[MTAtech]

Listening to what the insurance companies are saying, what the analysts are saying and other pieces of information, including the proposed rates that have so far been released. We'll know in the results in a week or so... So, you have to decide fairly quickly... Would you care to make some form of bet on it?

This is what the insurance companies are saying:

Insurer to cut prices under ObamaCare | TheHill

The proposal by Molina Healthcare, first reported by The Wall Street Journal, would mean a 6.8 percent price cut on average for people with individual coverage.
...

While most carriers proposed price increases, the rate hikes tended to be modest and short of dire predictions that rates would double in 2015.

 

[buck]

This is what the insurance companies are saying:

Insurer to cut prices under ObamaCare | TheHill

No, that is not what "insurance companies" are saying. That is what one insurance company is saying. As discussed above: They overpriced last year and were not competitive with the rest of the insurance companies rates that were also increased due to Obamcare in 2014 - Or, in simpler and more direct terms, Molina increased premiums higher then the other companies in 2014 and are now lowering them to be closer to the competition's rates.

In fact, I quoted 4 insurers above. One is raising rates an average of 14.9%, the other 8.5% and the third 3.3%. Lastly Molina who is reducing rates to be more competitive.

 

[Greenbeard]

No, that is not what "insurance companies" are saying.

...and Kaiser, Group Health, Regence BCBS, Asuris, and Regence BlueShield for their group products. All proposing premium reductions. It's no longer notable that small businesses are paying lower premiums next year?

 

[buck]

...and Kaiser, Group Health, Regence BCBS, Asuris, and Regence BlueShield for their group products. All proposing premium reductions. It's no longer notable that small businesses are paying lower premiums next year?

I thought we were talking about the exchanges. You and Sangha want to keep bringing in group plans for some reason.

But, as for Kaiser, at least in VA:

A third insurer, Kaiser Foundation Health Plan of the Mid-Atlantic States, has a filed for a 3.3 percent increase for its policies,

As for Regence Blue Cross, which you claim will be asking for a reduction:

Regence BlueShield, which offers only outside-the-exchange plans, asked for 5.1 percent.

Asuris, another you claim will reduce asked for a 3.9% increase.

Do you know what a decrease is? Were you just hoping no one would check?

And Group Health (not sure which you mean, so i'll just provide both) that you also claim asked for a reduction:

Coordinated Care Corp., with exchange-only plans, asked for 11.2 percent, as did Group Health Cooperative, which has plans both inside and outside the exchange. Group Health Options, with plans offered only outside the exchange, asked for 14.2 percent.

Do you know what a reduction is? Just hoped no one would check? Didn't follow the conversation at all? Which one?

the Average increase in WA? Over 8%. And that's a state that had healthy exchange enrollment. With the possible exceptions of NY and CA It's only going to get worse in most other states.

 

[Greenbeard]

I thought we were talking about the exchanges. You and Sangha want to keep bringing in group plans for some reason.

...because premiums dropping for small businesses is notable, unusual, and important. A lot more people are getting insurance through a small group plan in Washington than through its exchange.

While I think it's amusing you think Washington is a mid-Altantic state, I'll go ahead and correct you. Requested group market rate changes for next year for those insurers in Washington are:

Kaiser: -2.3%
Group Health Options: -1.5%
Regence BCBS of OR: -4.4%
Asuris: -0.5%
Regence BlueShield: -10.9

What outrageous increases! Thanks for crushing the small business, Obama!

 

[buck]

...because premiums dropping for small businesses is notable, unusual, and important. A lot more people are getting insurance through a small group plan in Washington than through its exchange.

While I think it's amusing you think Washington is a mid-Altantic state, I'll go ahead and correct you. Requested group market rate changes for next year for those insurers in Washington are:

I find it amusing that you believe VA and WA are the same state. That's just me, though.

Kaiser: -2.3%
Group Health Options: -1.5%
Regence BCBS of OR: -4.4%
Asuris: -0.5%
Regence BlueShield: -10.9

What outrageous increases! Thanks for crushing the small business, Obama!

Again, we are talking of the exchanges:

Seventeen health insurers file more than 230 plans for 2015 - average proposed rate change 8 percent

Seventeen health insurers filed more than 230 health plans for 2015 ? average proposed rate change 8 percent

Just to provide comparisons:

Kaiser: -2.3% your claim / .57% - actual
Group Health Options: -1.5% your claim / 14.2% actual
Regence BCBS of OR: -4.4% your claim / 9.5% actual
Asuris: -0.5% your claim / 3.9% actual
Regence BlueShield: -10.9 / 5.1% actual

And lastly. This is WA - a state that saw good exchange enrollment. They will have lower increases than most other states that saw much lower enrolment rates.

 

[Greenbeard]

Again, we are talking of the exchanges:

Because it's inconvenient to acknowledge that premiums for small businesses are now falling in Washington?

 

[buck]

Because it's inconvenient to acknowledge that premiums for small businesses are now falling in Washington?

No, because we are talking of the exchange. I get that it's looking bad, so you want to change the subject.

But fine. You haven't provided a single cite so the numbers can even be verified or we can determine the suggested causes or what other companies except those you chose to highlight are doing.

 

[sangha]

I find it amusing that you believe VA and WA are the same state. That's just me, though.



Again, we are talking of the exchanges:


Seventeen health insurers filed more than 230 health plans for 2015 ? average proposed rate change 8 percent

Just to provide comparisons:

Kaiser: -2.3% your claim / .57% - actual
Group Health Options: -1.5% your claim / 14.2% actual
Regence BCBS of OR: -4.4% your claim / 9.5% actual
Asuris: -0.5% your claim / 3.9% actual
Regence BlueShield: -10.9 / 5.1% actual

And lastly. This is WA - a state that saw good exchange enrollment. They will have lower increases than most other states that saw much lower enrolment rates.

And 8% avg increase is within historical norms.

 

[Greenbeard]

No, because we are talking of the exchange. I get that it's looking bad, so you want to change the subject.

The exchange looks fine. You have requested premium changes ranging from negative to zero to low single digits to a few in the low double digits. That's exactly what was expected for year two.

What's surprising, as I said, is that premiums in the small group market seem to be dropping much more than they're rising.

You haven't provided a single cite so the numbers can even be verified or we can determine the suggested causes or what other companies except those you chose to highlight are doing.

You've been talking this whole time without having even looked at Washington's rate filing website?

I suppose I don't know why that surprises me.