May 29, 2013
Seventeen of the nation's largest insurance companies are now reporting that insurance premiums are set to spike anywhere from 100 percent to 400 percent for many Americans in 2014. These insurance companies, including the likes of Aetna, Blue Cross Blue Shield, and the Kaiser Foundation have provided the House Commerce Committee with a new report that links the new Obamacare regulations, policies, and taxes to cause a substantial "rate shock" for many. The people who are expected to take the biggest hit are young healthy individuals who purchase their own health insurance.
Small businesses may see 50 to 100 percent increases in premiumsA health care plan that punishes success and healthy people is the most backward and degenerate idea ever mandated.
The report to the house committee shows that an average premium increase for small group markets will range from 50 to 100 percent. One insurer concluded that "nearly all states will see premium increases."
A new customer in small group market will typically see the standard average yearly rate jump from "$1,896 to $3,708 - a $1,812 cost increase."
To make matters worse, insurers told the panel that premiums are also expected to rise from 4 to 8 percent based on the new insurance tax alone. Other taxes, including the medical device tax, will only make matters worse.
Read the entire article