New York healthcare premiums about to explode

[mojaveman]

Insurance companies operating in New York State's marketplace are expected to ask for double-digit premium hikes early next year, according to new filings from the companies.

Glad I don't live in New York. Arizona doesn't look good either.

http://finance.yahoo.com/news/york-healthcare-premiums-expode-132658547.html;_ylt=AOSO8zJBiBvtw2QAlABXNyoA

[Team Sergeant]

Insurance companies operating in New York State's marketplace are expected to ask for double-digit premium hikes early next year, according to new filings from the companies.

Glad I don't live in New York. Arizona doesn't look good either.

http://finance.yahoo.com/news/york-healthcare-premiums-expode-132658547.html;_ylt=AOSO8zJBiBvtw2QAlABXNyoA

Here in Arizona I have the VA!!!! (Oh shite.....)

[ddoering]

Unfortunately the increases will really only impact those who actually pay for their Obamacare. The freeloaders will just get an increased subsidy paid for by the same folks that are paying the full price for their own coverage.

[VVVV]

http://www.forbes.com/sites/rickungar/2014/10/31/key-study-on-obamacare-2015-premium-rates-is-out-and-you-wont-believe-whats-going-to-happen/

[MR2]

http://www.forbes.com/sites/rickungar/2014/10/31/key-study-on-obamacare-2015-premium-rates-is-out-and-you-wont-believe-whats-going-to-happen/

Thank you WCH.

FYI: Author of this article is Rick Ungar, a regular contributor who states "I write from the left on politics and policy."

[Paslode]

Insurance companies operating in New York State's marketplace are expected to ask for double-digit premium hikes early next year, according to new filings from the companies.

Glad I don't live in New York. Arizona doesn't look good either.

http://finance.yahoo.com/news/york-healthcare-premiums-expode-132658547.html;_ylt=AOSO8zJBiBvtw2QAlABXNyoA

The article has been taken down.....

[VVVV]

Thank you WCH.

FYI: Author of this article is Rick Ungar, a regular contributor who states "I write from the left on politics and policy."

Yes but, he didn't do the study!

http://healthcare.mckinsey.com/sites/default/files/2015%20OEP%20Emerging%20Trends%20-%20McK%20Reform%20Center_0.pdf

[Streck-Fu]

The issue I have with that study is that it appears to compare only 2014 to 2015 and in limited areas (19 states). I want to that updated to reflect actual premium rates.

AND:

What’s more, based on the popularity of the lowest priced policies in a given tier that we saw during the 2014 season, McKinsey expects that a number of people purchasing higher price plans in their preferred tier will move to either the lowest or second lowest plan in the chosen category. For those people, the study suggests the mean increase will be less than 2 percent.

How do they determine the number of people that will choose to buy a higher tier plan? It appears that all the good news is based on 2 things; insurance companies are not running away from a legislatively mandated captive audience and that if people choose a higher tiered plan that is the lowest cost in that their, their premium increases are less than otherwise?

That sounds a lot like buying something on sale and claiming you 'saved' money.....

Or am I completely missing it?

[ddoering]

Too bad they don't consider the fact that many did not want to buy it in the first place.

[sinjefe]

Yes but, he didn't do the study!

http://healthcare.mckinsey.com/sites/default/files/2015%20OEP%20Emerging%20Trends%20-%20McK%20Reform%20Center_0.pdf
Only two years of data???

The studies footnotes only describe their reasoning behind why they said what they said vs. citing their source material.

Their source material is themselves (and the US Center for Healthcare Reform).

Yeah, they're not biased.:rolleyes:

Confirmation bias at its best.

[Mr Furious]

BLUF: rates are going up double digits, and the employees’ deductibles and out of pocket contributions will increase (in some cases double).

We have Blue Cross Blue Shield, and right now we have outstanding coverage with a very low deductible and out of pocket for our employees. If we kept our current plan and coverage levels, our group rate premiums increased overall by 49.5%. That is not a typo, that is reality, and it is not sustainable for us. We elected another plan that provided similar coverage, but both the out of pocket and deductible are significantly higher than our present plan. Under the new plan we still saw an overall increase in premiums of 12.5%. Welcome to the new normal.

[VVVV]

Sorry to hear this. Most of our patients have BCBS and are getting stuck in the same situation.

Some of those folks have begun to pay out of pocket for "lower" cost services, in order to avoid the outright headache of dealing with the insurance company.

Health insurance in the U.S. is a racket, make no mistake.

The medical care industry in the U.S. is a racket, make no mistake.

[Streck-Fu]

The medical care industry in the U.S. is a racket....

...... because of government regulation.

[The Reaper]

Like higher education.

TR