Via Fox News Radio:
The Wall Street Journal is reporting today that Obamacare rates are about to shoot up, in some cases as much as 40%. The rate increases requested by insurance carriers vary state by state, but the overall picture is bad.
“In New Mexico, market leader Health Care Service Corp. is asking for an average jump of 51.6% in premiums for 2016,” the Journal reports. “The biggest insurer in Tennessee, BlueCross BlueShield of Tennessee, has requested an average 36.3% increase. In Maryland, market leader CareFirst BlueCross BlueShield wants to raise rates 30.4% across its products. Moda Health, the largest insurer on the Oregon health exchange, seeks an average boost of around 25%.”
The Washington Examiner reported today that in Oregon the primary insurance carrier is facing costs (payouts) exceeding premiums (income) by just over 60%. “Moda Health, which serves roughly half of (Oregon’s) individual market, is aiming to raise rates by an average of 25.6 percent. As Jed Graham of Investor’s Business Daily noted, Moda’s costs for 2014 – the first year of Obamacare’s exchanges — exceeded its premiums by 61.5 percent.”