Blue Cross Blue Shield of Texas has about 603,000 individual policyholders and, unlike other insurers in the state, offers coverage in every county. In a recent filing with federal regulators, a summary of which is available on HealthCare.gov, the company said it is seeking increases averaging from 57.3 percent to 59.4 percent across its individual market plans.
In a statement, Blue Cross Blue Shield of Texas said its request is based on strong financial principles, science and data. "It's also important to understand the magnitude of the losses ... experienced in the individual retail market over the past two years," the statement said. The company says it lost $592 million last year and $416 million in 2014.
Texas isn't alone. Citing financial losses under the health care law, many insurers around the country are requesting bigger premium increases for 2017. That's to account for lower-than-hoped enrollment, sicker-than-expected customers and problems with the government's financial backstop for insurance markets.
Some are, some are not. Overall though costs are going up slower after the ACA past then they were for the twelve years leading up to it.
Some are, some are not. Overall though costs are going up slower after the ACA past then they were for the twelve years leading up to it.
that isn't what was promised. the fact is that rates are still going up.
still waiting on my 2500 reduction in my premium.
still haven't seen it.
I don't see how rate hikes of 20-40% per year is actually a good thing.
:roll:
I don't think that's the case. That was the case the first year. Then the increases started, as the high claims started rolling in, causing ins. co. losses.
That's what insurance is actually supposed to be for.In addition to the high increases is the fact that one is paying for someone else's high claims and can do nothing about it.
You can go with a higher deductible and get an HSA which is what I did. All total I'm only paying about $100/ paycheck. Not great, but not bad either. I have employer coverage obviously so they chip in, but the HSA fills up pretty quickly.You can take care of yourself, not do dangerous things, exercise every day, but you can't change the high premium,
since you are paying for someone else's medical condition, obesity, diabetes, accident, and the like. It takes the control out of the hands of the individual for his own health and health care costs.
Since this is from the White House I'm sure you won't believe it, but I'll post it anyway.
It really appears that you do not understand the difference between employer provided care and individual purchase plans
That they are still increasing after the reduction in benefits should be a little concerning
No, that's just really not an important distinction.
No, you've got that backwards. There hasn't been a reduction in benefits. There has been an increase in benefits.
There are many reasons for this, health benefits analysts say, such as high-deductible health plans that get workers to think twice before choosing a brand name drug and force them to become better shoppers
The ACA’s coming “Cadillac Tax” on plans with rich benefits has been an incentive for employers to push more “consumerism,” Umland said. The National Business Group on Health and others have reported employers increasing surcharges on spouses who can get coverage elsewhere and increasing wellness programs all in the name of falling below the threshold of the excise tax.
Some are, some are not. Overall though costs are going up slower after the ACA past then they were for the twelve years leading up to it.
That's not a good enough solution for the "some" that are seeing cost increases just as big, or even bigger, than there already were before the law. The point of passing a law at the federal level to deal with this is that it should stabilize the situation across the board. If some states are seeing annual double digit increases with no end in sight, and other states are seeing costs stabilize or even drop a little, it's not good enough to just take the average and complacently declare the matter resolved.
Insurance bailout buys time for state to sort out health care insurance mess - Alaska Dispatch News
Blue Cross Blue Shield of Texas has about 603,000 individual policyholders and, unlike other insurers in the state, offers coverage in every county. In a recent filing with federal regulators, a summary of which is available on HealthCare.gov, the company said it is seeking increases averaging from 57.3 percent to 59.4 percent across its individual market plans.
In a statement, Blue Cross Blue Shield of Texas said its request is based on strong financial principles, science and data. "It's also important to understand the magnitude of the losses ... experienced in the individual retail market over the past two years," the statement said. The company says it lost $592 million last year and $416 million in 2014.
Texas isn't alone. Citing financial losses under the health care law, many insurers around the country are requesting bigger premium increases for 2017. That's to account for lower-than-hoped enrollment, sicker-than-expected customers and problems with the government's financial backstop for insurance markets.
that isn't what was promised. the fact is that rates are still going up.
still waiting on my 2500 reduction in my premium.
still haven't seen it.
I don't see how rate hikes of 20-40% per year is actually a good thing.
:roll:
(1) In addition to the high increases is the fact that one is paying for someone else's high claims and can do nothing about it.
That's what insurance is actually supposed to be for.
(2) Again....this is the actual point of health insurance. The reality is no matter how healthy you THINK you are or how safe you THINK you are you could find out you have cancer tomorrow. You could get hit by a bus tomorrow. You're one bad car accident away from a $1 million doctor bill that you can't pay. That's really one of the biggest problems that the ACA was trying to solve. There are millions of people like yourself who think that because you're young and healthy that you don't need insurance, or you just get dirt cheap insurance that barely covers anything. Then something happens and you're not covered. You file for bankruptcy and everyone else who did have insurance has to cover your bills.
.
No end in sight? Neo, your pointless complaints only get more pointless when you resort to silly hyperbole.
Worse, with Obamacare you can no longer go shopping. I shop my homeowners, business and auto insurance yearly after I get my bill. Somehow my agent always seems to find a way to cut the bills a little. Either by squeezing the present insurer or finding a company that wants my business more than the present insurer. I don't think you can do that with Ocare.
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