Insurance rates in Indiana will increase 72 percent for those with individual plans and 8 percent for small group plans under President Barack Obama's healthcare overhaul, according to the state’s insurance department.
The spike in costs is due primarily to new mandates under the law, which requires insurers to cover those with pre-existing conditions and to offer a minimum level of benefits, said Logan Harrison, chief deputy commissioner with the Indiana Department of Insurance under Republican Gov. Mike Pence. New taxes and fees under the law also contributed, Harrison said.
“This new data regrettably confirms the negative impact of the Affordable Care Act on the insurance market in Indiana,” he said. “The Affordable Care Act requires many Hoosiers to purchase more comprehensive and more expensive health insurance than they may want or need. These rates call into question just how affordable health insurance will really be for many Hoosiers.”
Costs for individual plans is expected to increase from an average of $255 per member per month in 2012 to $570 in 2014, when the most aspects of the law go into effect, Harrison said.Read the rest HERE and view a related video Below:
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3 comments:
The Affordable Care act is proving to be not so affordable.
Subsidies will help many consumers. But if you don't qualify, purchasing an HDHP or going outside of the Exchange is the best option.
Obama care is a policy which reforms the health care system in USA. Health care structure basically a two tier architecture, one is public health care system governed by a new body which is responsible for providing health care and other is private companies. This health care is affordable for everyone and saying that this is the reason of increased premium rates isn't correct.
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