Obamacare ‘Doomed’?

‘Healthcare.Gov Is On Track To Offer Shoppers Fewer Options Than Ever,’ ‘Tennessee's Insurance Regulator Proclaimed The State's Obamacare Exchange “Very Near Collapse”’

‘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)

“...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)

“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)

“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)

  • “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)

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)

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)

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)

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)

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)


Related Issues: Obamacare, Health Care, Middle Class