State officials sound alarm on ObamaCare premium hikes, market 'collapse'

[Renae]

[FONT=&quot]State officials sounded the alarm Wednesday on Capitol Hill about skyrocketing ObamaCare premiums as insurers across the country propose double-digit rate hikes – renewing pressure on Congress to act. [/FONT][FONT=&quot]Insurance commissioners and officials from Alaska, Tennessee, Pennsylvania, Oklahoma and Washington state all testified before a Senate committee on the 2018 premium hikes, which are being finalized over the next few weeks. [/FONT]
[FONT=&quot]In Alaska, premiums have increased 203 percent since 2013, according to Lori Wing-Heier, the state’s director of the Division of Insurance.[/FONT]
[FONT=&quot]“On average, the increase means that an Alaskan in the individual market who was paying a monthly premium of $344 per month in 2013 is paying $1,041 per month in 2017,” Wing-Heier told the Senate Health, Education, Labor & Pensions committee.[/FONT]

State officials sound alarm on ObamaCare premium hikes, market 'collapse' | Fox News

Golly gee whiz, a government run healthcare system that doesn't work and is way over cost and budget? SHOCKING!

 

[humbolt]

Bunch 'a whiners. Suck it up and admit that the ACA is the best thing ever.

 

[Captain Adverse]

State officials sound alarm on ObamaCare premium hikes, market 'collapse'

State officials sound alarm on ObamaCare premium hikes, market 'collapse' | Fox News

Golly gee whiz, a government run healthcare system that doesn't work and is way over cost and budget? SHOCKING!

Insurance is not a zero-sum game.

Insurance companies are about making profit, that is the real game.

They offer a deal where a pool of people agree to pay a certain amount each month (premiums) so that in the event of an unexpected loss, they can draw on this pool to help pay for the expense.

Periodically the Insurance companies do a cost-benefit assessment and increase premium rates to cover costs and maintain their profit margins.

More use = larger premium increases.

Since our government made a deal with Big Insurance, everyone is now compelled to obtain mandated health insurance coverage.

But while the whole population is covered, the pool of funds only comes from those citizens with "sufficient income" to be required to pay into the pool of funds.

Meanwhile, many are using it more and more frequently...especially those who get the coverage for free.

Big Insurance passes the costs via premium increases on those who do have to pay. Such increases provide for both profits and general costs of use.

As with most contemporary corporations, it is better to have a monopoly locally than to compete; soooo much like the Cable TV companies, Big Insurance is dividing up the nation into areas each has a monopoly, and only competing in the heavily populated sections (like New York, California et. al.)

What would anyone expect?

 

[Greenbeard]

From this very hearing:

A Pennsylvania insurance official told Congress Wednesday that ObamaCare is not collapsing, as some Republicans have argued.

Speaking at a Senate Health Committee hearing on efforts to stabilize Affordable Care Act (ACA) markets, Teresa Miller, Pennsylvania’s acting Human Services secretary and former insurance commissioner, said that the notion is “just false.”

“I’m not going to sit here this morning and tell you that the ACA is perfect,” she said. “I think we all know that it’s not, but the narrative that the ACA is failing and imploding is just false.”

 

[JANFU]

State officials sound alarm on ObamaCare premium hikes, market 'collapse' | Fox News

Golly gee whiz, a government run healthcare system that doesn't work and is way over cost and budget? SHOCKING!

Yep- and every other 1st world country has universal coverage- so it the US 2nd or 3rd world?

 

[Renae]

From this very hearing:

Yes the Dem Governor's pick to make such things work says all is rosey. The dem's track record on the ACA isn't a good one.

 

[Renae]

Yep- and every other 1st world country has universal coverage- so it the US 2nd or 3rd world?

And they all have lack of MRI scanners, long wait times...