Healthcare Cost Soaring Under Obamacare
Health Insurance premiums are going to shoot up for most Michigan residents that buy their own health insurance, according to state insurers.
The hikes will range anywhere from 2.7% to 21.6% with BCBS hiking their rates by an average of 9.7%.
Blue Cross executive Terry Burke said the hikes are needed to make up for the ever-rising health care costs and uncertainty related to the Obamacare expansion bringing in sicker-than-average patients.
“We’ve got a big influx of people and we don’t know what their claims conditions are,” Burke told the South Bend Tribune. “The actuaries are concerned about that risk mix.”
Michigan’s next largest insurer, Humana, is looking at raising their rates by 18%, again for people who buy their own health insurance on the open market.
Next will be your company plan health insurance.
We were told this would not happen, we were told in fact that our health insurance premiums will go down which would enable our employers to give us raises.