Obamacare Premiums Said To Soon Skyrocket

And right in time for the 2014 midterms. I feel an Obama delay coming shortly

(The Hill) Health industry officials say ObamaCare-related premiums will double in some parts of the country, countering claims recently made by the administration.

The expected rate hikes will be announced in the coming months amid an intense election year, when control of the Senate is up for grabs. The sticker shock would likely bolster the GOP’s prospects in November and hamper ObamaCare insurance enrollment efforts in 2015.

The industry complaints come less than a week after Health and Human Services (HHS) Secretary Kathleen Sebelius sought to downplay concerns about rising premiums in the healthcare sector. She told lawmakers rates would increase in 2015 but grow more slowly than in the past.

“The increases are far less significant than what they were prior to the Affordable Care Act,” the secretary said in testimony before the House Ways and Means Committee.

Her comment baffled insurance officials, who said it runs counter to the industry’s consensus about next year.

But, hey, Kathy knows best. Except for any of the details, like how many people have paid, what the mix of young healthies is, etc. Where will this hit the most?

Areas of the country with older, sicker or smaller populations are likely to be hit hardest, while others might not see substantial increases at all.

Insurers will soon start releasing their new rates, which need approval. You can bet the ranch that Democrats will attempt to squash any serious rate increases. However, the proposed rate increases will make it out into the public domain, and the citizens will see what O-care should cost.

Meanwhile, Slate’s David Weigel is attempting to find good O-care stories. This one amuses me

I am one of the people that has been helped by Obamacare. My policy costs $284.50. After a subsidy of $282, I pay $2.50 a month net. It has a $500 deductible with a $750 total out of pocket. I was flabbergasted that it was such a deal. I told friends about this and the first person, instead of being happy for me, said, “Congratulations, you are now on welfare, you should be so proud.” This pretty much shut me up and made me feel embarrassed about the subsidy. I dont look at it as welfare but I guess a lot of people do.

I’d love to know where someone has a $500 for only $284 a month.

Crossed at Pirate’s Cove. Follow me on Twitter @WilliamTeach.

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