Obamacare ‘Doomed’?

‘Obamacare’s In Trouble… Many Consumers Will Face Fewer Options And Higher Prices’

‘Princeton health economist thinks Obamacare’s marketplaces are doomed … [have] already entered a death spiral and are heading toward total collapse’ “This Princeton health economist thinks Obamacare’s marketplaces are doomed… Of all the people I spoke with, Princeton University health economist Uwe Reinhardt offered the most dire and pessimistic assessment of the marketplaces' future. Namely, he believes they’ve already entered a death spiral and are heading toward total collapse.” (“This Princeton Health Economist Thinks Obamacare’s Marketplaces Are Doomed,” Vox, 8/25/16)

• “Tennessee's insurance regulator proclaimed the state's Obamacare exchange ‘very near collapse’ Tuesday, after signing off on hefty premium hikes in an extraordinary bid to keep the program afloat. Her remarks largely overshadowing the dramatic premium increases…” (“Tennessee Insurance Commissioner: Obamacare Exchange 'Very Near Collapse,'” The Tennessean, 8/25/16)

“...states around the country are grappling with dwindling numbers of insurers willing to sell on the exchange.” (“Tennessee Insurance Commissioner: Obamacare Exchange 'Very Near Collapse,'” The Tennessean, 8/25/16)

• “…it's becoming increasingly clear that the assumptions the [health care] law was built on just haven't held up.” (“Obamacare’s Sinking Safety Net,” Politico, 7/13/2016)

“Healthcare.gov is on track to offer shoppers fewer options than ever before in 2017. … As a result, most Healthcare.gov shoppers live in an area where competition is currently decreasing.” (“Big Insurers Have Quit Obamacare,” Vox, 8/24/16)

• “There are currently 687 counties on the Healthcare.gov marketplace with just one insurer signed up to sell in 2017 — nearly four times the 182 counties that had one insurer this year.” (“Big Insurers Have Quit Obamacare,” Vox, 8/24/16)

“The four biggest U.S. health insurers admit they’re each losing hundreds of millions of dollars on their Obamacare plans. Rather than expand coverage, many are pulling out of the exchanges that were set up… many consumers will face fewer options and higher prices.” (“Obamacare’s In Trouble As Insurers Tire Of Losing Money,” Bloomberg, 8/17/16)

‘Big Premium Increases For 2017’

ILLINOIS: “Illinois Obamacare rates could soar as state submits insurance premium increases to feds.” (“Illinois Obamacare Rates Could Soar…” Chicago Tribune, 8/26/16)

• “Premiums could rise by 43 percent on average in 2017 for Illinois residents who buy health insurance on the state exchange…” (“Fewer Options, Higher Rates On Illinois Health Insurance Exchange,” Chicago Sun Times, 8/24/16)

• “Illinois consumers are one step closer to facing sky-high increases for individual health insurance plans purchased through the Affordable Care Act's marketplace. The Illinois Department of Insurance said Wednesday it has submitted rate increases to the federal government that for some types of plans average 43 percent to 55 percent.” (“Illinois Obamacare Rates Could Soar…” Chicago Tribune, 8/26/16)

WISCONSIN: “…health insurers in Wisconsin are proposing the largest rate increases yet for health plans sold on the online marketplaces throughout the state. … The proposed increases could range from 5.44% to 37.88% statewide, according to filings with the federal government.” (“Health Insurers Eye Steep Increases As Enrollment Period Nears,” USA Today, 8/21/16)

• “…the potential price increases will make it harder to persuade more people to buy health plans on the marketplaces in Wisconsin and throughout the country. As a result, the market for health plans sold directly to individuals and families may end up being smaller, more expensive and less competitive than envisioned.” (“Health Insurers Eye Steep Increases As Enrollment Period Nears,” USA Today, 8/21/16)

KENTUCKY: “Kentuckians who rely on the state's health exchange for insurance should brace themselves for premiums that will skyrocket as much as 47 percent in 2017.” (“Some Premiums For Ky. Health Exchange To Increase 47 Percent In 2017,” WKYT, 8/25/2016)

• “Get ready to pay more for health insurance. The Kentucky Department of Insurance has approved health insurance rate hikes of up to 47 percent for individuals and up to nearly 13 percent for small groups.” (“Get Ready To Pay More For Health Insurance In Kentucky,” Insider Louisville, 8/03/2016)

TENNESSEE: “Cigna asked for and received an average 46.3 percent increase. Humana asked for and received an average 44.3 percent increase. BlueCross BlueShield of Tennessee, which did not refile its request, asked for and received a 62 percent increase.” (“Tennessee Insurance Commissioner: Obamacare Exchange 'Very Near Collapse,'” The Tennessean, 8/25/16)

ALABAMA: “Blue Cross Blue Shield of Alabama is seeking an average rate increase of 39 percent on individual plans offered through the Obamacare marketplace, according to the Centers for Medicare & Medicaid Services. The proposed rate hikes will affect more than 160,000 people in Alabama who purchase insurance through the federal exchange . . . Rate increases range from 26 to 41 percent, depending on the type of plan.” (“Blue Cross Proposes Rate Hike Of Nearly 40 Percent On Some Obamacare Plans,” AL.com, 8/08/2016)

• “The hefty rate hikes for Blue Cross customers will come on the heels of another increase in 2016 that averaged 28 percent for individual plans.” (“Blue Cross Proposes Rate Hike Of Nearly 40 Percent On Some Obamacare Plans,” AL.com, 8/08/2016)

• “Blue Cross is the only insurance company that will offer Alabamians individual insurance plans through the exchange next year after the departure of Humana and UnitedHealth.” (“Blue Cross Proposes Rate Hike Of Nearly 40 Percent On Some Obamacare Plans,” AL.com, 8/08/2016)

NEW YORK: “New York regulators have approved health insurance rates for 2017, hiking premiums about 8 percent for small group plans and almost 17 percent for individual plans. The Department of Financial Services said rising health care costs and the federal reinsurance program's termination are pushing up rates.” (“NY Approves Health Insurance Rate Hikes For 2017,” The Associated Press, 8/05/2016)

CALIFORNIA: “Premiums for Californians’ Obamacare health coverage will rise by an average of 13.2% next year — more than three times the increase of the last two years ... The big hikes come after two years in which California officials had boasted that the program helped insure hundreds of thousands people in the state while keeping costs moderately in check.” (“California Obamacare Rates To Rise 13% In 2017, More Than Three Times The Increase Of Last Two Years,” Los Angeles Times, 7/19/2016)

• “Two of the state’s biggest insurers — Blue Shield of California and Anthem Inc. — asked for the biggest hikes. Blue Shield’s premiums jumped by an average of more than 19%, according to officials, and Anthem’s rates rose by more than 16%.” (“California Obamacare Rates To Rise 13% In 2017, More Than Three Times The Increase Of Last Two Years,” Los Angeles Times, 7/19/2016)

MONTANA: “The three health insurers selling individual policies in Montana through the online marketplace created by President Barack Obama's Affordable Care Act are proposing large premium increases for the second straight year, state officials said Friday.” (“Health Insurers Propose Big Premium Increases For 2017,” The Associated Press, 7/08/2016)

• “The largest insurer, Blue Cross Blue Shield of Montana, is proposing an average 62 percent rate increase for its individual plans for 2017. Montana Health Co-op's average requested increase is 22 percent, and PacificSource's request is an average 20 percent jump.” (“Health Insurers Propose Big Premium Increases For 2017,” The Associated Press, 7/08/2016)

MICHIGAN: “Health insurers in Michigan are seeking another round of double-digit rate increases next year for plans they sell to individuals...” (“Michigan Insurers Seek Big Hikes For Obamacare Plans,” Detroit Free Press, 7/09/2016)

• “Insurance giant Blue Cross Blue Shield of Michigan has asked state regulators for permission to boost its premium rates by an average 18.7% for individual plans, along with a 14.8% increase for its Blue Care Network individual plans. Those plans [are] closely associated with the Affordable Care Act, commonly referred to as Obamacare . . .” (“Michigan Insurers Seek Big Hikes For Obamacare Plans,” Detroit Free Press, 7/09/2016)