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I’m a Victim of Obamacare’s Ridiculous Rate Hikes

I’m a Victim of Obamacare’s Ridiculous Rate Hikes

Suck it collectivists

Another year, another ridiculously high health insurance rate hike.

Last week I received my health insurance information packet for the upcoming year. I’m the lucky winner of a 53% increase to my health insurance premium. 5-3. I’m young, healthy, and was forced last year into an HMO after the PPOs on the exchanges withdrew their offerings due to inability to offer competitive rates.

And no, I don’t receive a subsidy.

To keep my current plan, I’ll have to pay more for one month than I would paying the no-insurance penalty.

Thanks, Obamacare.

But I’m not the only one — millions of other self-employed individuals who aren’t privy to employer-sponsored benefit plans, purchase their health insurance on their state exchanges too. And they’re all experiencing sticker shock.

We’ve blogged about the issue extensively, and even the AP‘s rate hike reports are about as damning as they come:

Premiums will go up sharply next year under President Barack Obama’s health care law, and many consumers will be down to just one insurer, the administration confirmed Monday. That’s sure to stoke another “Obamacare” controversy days before a presidential election.

Before taxpayer-provided subsidies, premiums for a midlevel benchmark plan will increase an average of 25 percent across the 39 states served by the federally run online market, according to a report from the Department of Health and Human Services. Some states will see much bigger jumps, others less.

Moreover, about 1 in 5 consumers will only have plans from a single insurer to pick from, after major national carriers such as UnitedHealth Group, Humana and Aetna scaled back their roles.

“Consumers will be faced this year with not only big premium increases but also with a declining number of insurers participating, and that will lead to a tumultuous open enrollment period,” said Larry Levitt, who tracks the health care law for the nonpartisan Kaiser Family Foundation.

The vast majority of the more than 10 million customers who purchase through HealthCare.gov and its state-run counterparts do receive generous financial assistance. “Enrollment is concentrated among very low-income individuals who receive significant government subsidies to reduce premiums and cost-sharing,” said Caroline Pearson of the consulting firm Avalere Health

But an estimated 5 million to 7 million people are either not eligible for the income-based assistance, or they buy individual policies outside of the health law’s markets, where the subsidies are not available. The administration is urging the latter group to check out HealthCare.gov. The spike in premiums generally does not affect the employer-provided plans that cover most workers and their families.

In some states, the premium increases are striking. In Arizona, unsubsidized premiums for a hypothetical 27-year-old buying a benchmark “second-lowest cost silver plan” will jump by 116 percent, from $196 to $422, according to the administration report.

Then of course there’s the Obamacare architect himself saying this all working according to plan.

Obamacare is effectively and intentionally killing America’s health insurance marketplace. Adding insult to injury, this tabloid trash election cycle means real issues affecting millions of Americans get very little attention. It’s hard to care about who eyed what woman decades ago when you’re wondering how you’re going to pay for insurance.

Follow Kemberlee on Twitter @kemberleekaye

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Comments

I suggest you get a good catastrophic plan, and just say NO! as I have done since ObamaDoggle was passed.

(I assume there are good catastrophic plans out there…)

    Sanddog in reply to Ragspierre. | October 31, 2016 at 9:03 pm

    Traditional catastrophic plans are illegal to offer and purchase to anyone under the age of 30. What I’m forced to buy now amounts to a catastrophic plan but the premiums are 5 times higher.

    Where are you finding catastrophic plans available? I would prefer such but cannot get it here in NC. Or maybe I’m missing something…

    Currently paying 20K+ a year for two people with no health issues. Very high deductible, worst plan available.

      Barry in reply to Barry. | October 31, 2016 at 11:03 pm

      Never mind. Don’t know what you have but here it’s not available.
      Looks like the lowest cost plan I will be able to get this time will now be 26K / year, and that with a 14K family deductible.
      If it were me alone I’d say the hell with it.

        tarheelkate in reply to Barry. | November 1, 2016 at 3:00 pm

        Maybe you’d be better off to pay the penalty and save the premiums against disaster.

          The penalty is substantial itself, 2.5% of your income.

          I’d be happy to pay for a catastrophic policy that would kick in at say 20K or so. As it is, what I get is a catastrophic policy, but I’m paying for a good policy.

          The problem with paying the penalty and putting the money towards “disaster’, some disasters are 100K or 1 million. If you’ve not seen some of the medical bills people pay you might be surprised. Next door neighbor appendicitis >60K, for example. That’s a small bill…

          One should be insured against disasters they cannot afford. It is why insurance exists. And that is why I pay the extortion level charge. As I said, just me, might forget it and just die if it came to that.

Clearly you are wealthy and healthy and therefore need to pay your fair share.

/runs&hides

I received my increase over the weekend. From $340 a month to $571, that’s an increase of 46.4%!

I don’t care if anyone is getting a subsidy because someone has to pay the whole premium, even worse the subsidy is paid by the taxpayer and has to cover the interest because we all know the Grubernment has no money!

DieJustAsHappy | October 31, 2016 at 6:17 pm

One wonders what other dastardly, contrived consequences of this administration will impact in 2017. There were warnings of what would happen after Obama left office, Obamacare being about the only one I can think of off the top.

conservative tarheel | October 31, 2016 at 6:23 pm

so very very grateful I am retired Military ….
use Tricare and the VA .. lucky for me
I have no real health issues .. other then
arthritis in both knees and ankles …

the other rob | October 31, 2016 at 6:27 pm

I’m a small business owner. I’d be screwed if my wife didn’t have a job with a group plan.

I’m guessing that the disproportionate impact upon the self-employed is a feature, not a bug – can’t have those deplorable middle-class little people creating wealth and jobs.

So you’re supporting the Trump/Pence ticket, right?

Lucky me: I had some practice for this disaster. It was popularly called Romneycare.

My mother is in this same boat. My parents make enough so that they don’t get subsidies, yet not enough to afford my mother’s premiums.

You will know when we are truly screwed when Americans start going to Canada for their health care.

    Ragspierre in reply to Anchovy. | October 31, 2016 at 7:53 pm

    “Health resorts” will take on a new meaning.

    Seriously, dude. Think Costa Rica, Bermuda, etc.

      Anchovy in reply to Ragspierre. | October 31, 2016 at 8:27 pm

      A lot of people go to Mexico for their dental work as it is. Way back in the mid 90’s my wife and I took our sailboat on a 5 year cruise. Among the boats we hung around with was a Canadian DDS and a Canadian oral surgeon. Both thought the dental care they got in Mexico was excellent.

      I wonder how long it will be before Mexican clinics set up along the border and start providing medical care.

      There are places along the border in Texas like Progresso, Mx where many “Winter Texans” go to get their dental work taken care of. Most Mexican DDS are educated here and many live here and just cross the border each day to their offices.

      Free enterprise has a way of leveling things out.

        Sanddog in reply to Anchovy. | October 31, 2016 at 8:59 pm

        Palomas is a popular spot for dental work here in New Mexico. South of Deming and right on the border. There’s even a company in Santa Fe that sets up appointments and runs shuttles from Albuquerque and Santa Fe right to your dentist of choice door. The savings are tremendous and if I ever need work done, I’m going there.

I also had a shock this weekend – a 82% increase for an individual plan with BC/BS. And, CVS is no longer available as a pharmacy.

And I am on the Bronze plan, so the deductible is $6,000 per year. At least I get a “free” annual checkup but somehow I don’t need the free birth control, pediatric dental & vision, or mental health care. I do get the benefit of the BC discounts with the docs and scripts.

I’m 63, female, ok health, spent about $800 total this year for healthcare(non dental/vision). Last year I spent about $2,500, but I was accident prone for some reason.So, my new monthly premium will be $1,160, which is more than what I spent the entire year!

So, once everyone else stops screaming at their insurance company, I ‘ll start looking for a cheaper plan or I’ll go to a loer deductible plan and spend the heck out it – a knee replacement or two should do it.

I’m really sorry Kemberlee. You’re probably aware that there is a whole, long list of situations that will exempt you from paying the the penalty…oh, I mean TAX… if you choose not to buy insurance. A creative person such as yourself should be able to qualify for at least one of those.

Just my experience.

I’ve had an individual Blue Cross plan in Georgia for 30 years and as I got older it had risen to about 320/mo. Two years after Obamacare it came to be 600+. I gave it up.

Who knows what it would be now.

I’m 59 now and sweating it out to reach medicaire age without getting cancer or something.

If they didn’t fuck it up so bad medicaire would have never occurred to me.

The explanation of benefits letter I got about 3 weeks ago for the plan I am soon eligible for is $1822 a month for a family… Over $22k a year… My house, car and all other bills are just over $30k a year.

If Hillary gets elected, you can forget about getting rid of Obamacare, unless it’s something even more odious. Even if the GOP controls both the House and the Senate, they can’t do anything without a supermajority, which is not going to happen.

After four more years, Obamacare is going to be so entrenched it will never be repealled. Except for something worse.

Adding insult to injury, this tabloid trash election cycle means real issues affecting millions of Americans get very little attention. It’s hard to care about who eyed what woman decades ago when you’re wondering how you’re going to pay for insurance.

Since the New York primary ( at latest ) it was clear that Trump would be the nominee, or if not it would be because of such scorched earth politics that not only would the Presidency be lost, but the Dems might even get a majority in the House and a supermajority in the Senate.

At that time, you could have decided to support or at least not oppose Trump anymore, you didn’t. Instead you chose to tone it down a little, but still oppose.

I feel sorry for a lot of the people who are suffering because of Obamacare, but I think you are getting what you deserve.

Hey, bingo, everyone! My wife and I got our health insurance notice last night, and guess what … we’ve been awarded the privilege of paying 35% MORE in annual premiums for our private individual market plan in 2017! Add that to our previous increases, and we’ve been privileged with paying an AGGREGATE of 155% more in annual premiums since Obamacare kicked in in 2013! I feel like we’ve won the lottery!!!

Where do we go to redeem our prize?

    tkc882 in reply to JPL17. | November 1, 2016 at 1:59 pm

    “Where do we go to redeem our prize?”

    The Clinton Foundation. Your prize being that if you make a six figure donation then Hillary will come give you a pep talk about how AWESOME your ACA insurance plan is.

      JPL17 in reply to tkc882. | November 1, 2016 at 3:48 pm

      Actually, tkc, I initially thought the correct answer to my question was “the septic tank”. But then I realized that “The Clinton Foundation” and “septic tank” mean exactly the same thing, so we’re on the same page!

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