Friday, February 5, 2016

ObamaCare’s Wallet-Buster Health Plans

While insurance premiums and deductibles soar, Hillary Clinton takes credit for the president’s mess.
On the campaign trail in Iowa, Hillary Clinton claimed that President Obama’s Affordable Care Act is little different than her health-care plan in 1993. “It was called HillaryCare before it was called ObamaCare,” she told supporters on Jan. 21.
Her timing was awkward. That same day, the Department of Health and Human Services announced that health-insurance premiums on the Affordable Care Act exchanges rose an average of 9% between 2015 and 2016.
But the HHS data account for less than half of individual-exchange consumers buying coverage only on the 38 states using the federal exchange. The overall premium increases were significantly higher.
Freedom Partners Chamber of Commerce, where I work, has analyzed all publicly available information for health-insurance premiums from and state insurance departments. It then calculated the weighted averages for all health-insurance plans available on the Affordable Care Act’s exchanges. The weighted average gives a more accurate view of overall premium increases, because it takes into account each insurance plan’s market share.
The findings: Nationally, premiums for individual health plans increased on average between 2015 and 2016 by 14.9%.
Read the rest of the story HERE.

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