Health Insurance Companies Seek Big Rate Increases for 2016

http://www.nytimes.com/2015/07/04/us/health-insurance-companies-seek-big-rate-increases-for-2016.html

WASHINGTON — Health insurance companies around the country are seeking rate increases of 20 percent to 40 percent or more, saying their new customers under the Affordable Care Act turned out to be sicker than expected. Federal officials say they are determined to see that the requests are scaled back.

Blue Cross and Blue Shield of New Mexico has requested rate increases averaging 51 percent for its 33,000 members. The proposal elicited tart online comments from consumers.

“This rate increase is ridiculous,” one subscriber wrote on the website of the New Mexico insurance superintendent…

You would never see a rate hike like this in Medicare, and it covers more sick and disabled people than any other private insurer.

One thought on “Health Insurance Companies Seek Big Rate Increases for 2016

  1. True! So true! If Medicare &/or Medicaid (T19) can manage it, why can’t the insurers who are on the Marketplace do it? Why not? Because then they wouldn’t have Ginormous profits! They would actually have to insure people properly. Nothing but Greed and Avarice, these private monstrosities who claim to help people but destroy their lives thru bankruptcies, debt collections, foreclosures, repos of cars. The people They help end up in the worst situation after They ‘provide care’ for them. And they live off the backs of these same people, making their ill-gotten profits their prizes.

    Liked by 1 person

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