Obamacare Fallout: Health Insurance Rates in Wisconsin will rise more than 50 percent

Insurance costs will increase an average of 51 percent in Wisconsin under the Obamacare exchanges according to an analysis by the Office of the Commissioner of Insurance released Tuesday morning. 

Ironically, President Barack Obama said the exchanges were having the opposite effect during a speech in California this summer. "Competition and choice are pushing down costs in the individual market just like the law was designed to do," the president said on June 7th. 

However, that's not how it's playing out in Wisconsin.

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"With that said, from our analysis, it appears premiums will increase for most consumers. And, while there is no question that some consumers will have subsidies and may not pay these higher rates," Commissioner of Insurance Ted Nickel said. "Someone will pay for the increased premiums whether it is the consumer or the federal government." 

The MacIver News Service began contacting state lawmakers immediately after OCI released its findings.

Read the rest of the story HERE.

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