Government Watch

Survey Shows ObamaCare Sending Premiums Rising at Fastest Clip in Decades

 

By  | FoxNews.com

A recent survey of 148 insurance brokers shows that ObamaCare is sending premiums rising at the fastest clip in decades.

“For the last, about, five years they’ve been doing this survey, so this was the largest percentage increase in any quarter since they’ve been doing (it),” said Scott Gottlieb of the American Enterprise Institute.

“But at 12 percent, 11 percent increase on average across all the states — that puts it at the upper end of any increase we’ve seen for decades.”

That is the national average in a survey done by Morgan Stanley. But in some states, it found rates are soaring.

“There are specific states with exorbitant increases,” Gottlieb said. “Delaware had 100 percent increase, Florida had a 37 percent increase, Pennsylvania 28 percent increase, California had a 53 percent increase in their premiums.”

Rates vary widely, often depending on the state and how highly regulated it was to begin with. Analysts, however, say the main reasons for the higher costs are not medical inflation, but rather the requirements of ObamaCare itself.

“There are certain regulations and certain requirements that had to be in there. And because of that it’s driven up the costs of these benefits,” said John DiVito of the Flexible Benefit Service Corporation, which represents hundreds of agents.Rate hikes include ten essential health benefits along with more than 20,000 pages or regulations.

The reported hikes are for the first policies issued under ObamaCare in 2014.

The Congressional Budget Office or CBO issued a report Monday saying the average premium for the silver plan this year will be $3,800, or just over $300 a month, rising to $4,400 in 2016, 15 percent below its earlier estimates in 2009.

Those early, higher estimates make costs now look better – but that does not include deductibles of as much as $5,000.

But the estimates are comforting to the White House.

White House spokesman Jay Carney says, “It shows that marketplace health care costs have gone down because premium estimates have gone down.”

The CBO also projects future premium increases over the next decade.

Insurance companies will soon have to set rates for 2015, and analysts fear reported higher costs now will mean increases next year, as well.

“They’re going to see an announcement that next year’s premium’s going to be 25 percent or maybe 50 percent higher than what they’re now paying,” says John Goodman of the National Center for Policy Analysis.

John Divito of Flexible Benefit Service Corporation said, “we’re reading studies where the rates could be 10 to 30, 40 percent higher. Again, it all depends geographically where these rates are being looked at but definitely an increase in rates.”

Scott Gottlieb, a medical doctor as well as an analyst, added, “We’ve seen insurance premiums go up quite a bit over the period in which ObamaCare started to get implemented.”

Insurance executives say the same thing. Marc Bertolini, CEO of Aetna, recently told an earning conference that he anticipates 2014 spikes of 20 to 50 percent, going as high as 100 percent in some markets.

Jim Angle currently serves as chief national correspondent for Fox News Channel (FNC). He joined FNC in 1996 as a senior White House correspondent.

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George Michalski Northlake
6 years ago

All politicians should be required to enroll in Osama/Obama care.

STMBO
6 years ago

I agree with you all about this healthcare fiasco. I have “campaigned against it” since 2009. It is a shame that people are so busy trying to make ends meet that they do NOT keep track of what the government is doing TO them. I have friends who have no insurance and can not afford to buy it under Obamacare – even with government subsides, to help with monthly premiums, the DEDUCTIBLE is too high at $4500 – $6000 per year ! This is insanity ! Since only 28% of the eligible young people have signed up- there will be… Read more »

Lynn M
6 years ago

Everyone feels the same! Everyone knows what Obamacare is doing to the medical profession. Everyone knows what it’ll do to the quality, the dignity, the comprehensive healthcare we’re able to receive – when sick or simply needing a check-up. Everyone knows exactly how corrupt, socialistic and destructive the Affordable Care Act is. And ‘everyone’ knows our only voice is our VOTE. I don’t know anyone who voted for Obama – the writing was clear and obvious long before he ran for the presidency. Our only voice is that of our VOTE – along with enabling the actual truth/facts to be… Read more »

James Waters
6 years ago

The way Obama care got pushed through as I see it, my opinion. There are many that are under insured and thousands without insurance. Then there were those that heard the promise that Obama care would lower insurance rates. These are the votes that pushed the ( dream ) through. I did not fall for the pipe dream. I am sad to see how it has already effected so many in a bad way. ( some got canceled many now has to pay more ) The numbers will never show the real information I feel. So many things have went… Read more »

George Reagan, Fort Worth, TX
6 years ago

Surprise, surprise, surprise!!!! …. as one of my favorite TV Marines used to say (Gomer Pyle aka Jim Neighbors). In this communist administration, nothing is a surprise. BHO preached in in his books, in his rhetoric and promises, and in his idealism. So don’t be “surprised”. Most of the hard working tax payers could see through the BS. His minions and sheeple knew the difference. Karl Marx, V Lenin, J Stalin, Mao, Ho, Castro and his Che would be proud. Is it 1776, again ??? Will there be another Revolution ??? Probably. But this time we will be better prepared.… Read more »

George Reagan, Fort Worth, TX
6 years ago

Back in 2009, most hard working American tax payers could see the socialist trends by the BHO administration. That’s why the Tea Party happened … in memory of the original Boston Tea Party, the protest of the British Empire taxing the Colonies tea without direct representation. Our first “Tax Day” Tea Party Protest in Fort worth, as with many places in Texas, brought out many hard working conservatives (and curious bystanders) of many backgrounds, ideals, genders, ages, and political leanings. All of the local, state and federal conservative political leaders of the day were there. In the terms of the… Read more »

D.A.
6 years ago

I too have been self employed most of my life. The worst shock I got last year as this monstrosity unfolded was not the doubling of my premium; ( I was able to lock in one more year of the old plan), but being told that the bronze plan, which would have doubled my premium, provided for only one hospital in my metro area. My agent explained that this would mean that if taken by the squad to any other hospital for a heart attack or car crash, I would be paying full retail. It would be as if I… Read more »

David Rasse
6 years ago

I was self employed 90% of my life and had the same family health policy for well over 25 years (changed 2013). I was disabled in 2003 but did not file until 2009 and from 2009 to 2013 our policy fee’s increased by over 30% due to ObamaCare. I started getting my disability in 2013 and had to purchase a policy for my wife (we are both in our late 50’s) as the other policy could not be converted for an Individual. The policy we got her was $535.00 per month beginning in June 2013, in February 2014 we were… Read more »

Harry R
6 years ago

Well, those who voted Obama in for his Second Term got what they deserved. Crummy Healthcare, still no jobs, more unemployment, lost of our rights, growing Police State, indoctrination of your young children in Socialism and Islam, higher and more taxes, reduced defense funding and the list goes on and on. Now don’t you wish you’d voted for Romney?

PaulE
6 years ago

Today’s report in the Wall Street Journal, on the breakdown of enrollees in Obamacare, shows that only 28 percent of those that signed up are in the young age group needed to keep 2015 insurance premiums from skyrocketing. They needed 40 percent of enrollees to be young people willing to drastically over-pay for insurance in 2014 to keep the rates for 2015 from jumping up significantly again. So start saving up now people for the next rate shock we’ll be forced to pay in 2015.

Rik
6 years ago

Whenever Jay Carney speaks, can’t you just see the “puppet strings” being yanked in the background? I have no respect for this clown. Where did he learn to “lie” like this, oh yeah, he graduated from the Yale School for Journalism. Yale’s mascot is a bulldog, and this is one dog who can throw the bull.

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