Insurance Premiums in Wisconsin to Go Up As Much As 125 Percent

by Sterling Beard

 Prices for health insurance in Wisconsin look like they could be going up. Way up.

The state’s health-insurance regulator yesterday completed its initial analysis of rate filings in the individual insurance market. The office attempted to compare the rates that 21-year-old, 40-year-old, and 63-year-old Wisconsinites are currently paying in eight cities with what they will be paying after 2014 when Obamacare is fully in effect.

For a plan with a $2,000 deductible and prescription-drug coverage, young people in the Madison area will see a staggering 125 percent increase in costs; even seniors, who theoretically should benefit most from the new health-care law, will see their rates shoot up by as much as 45 percent. The increases will be smaller in some places: Seniors in the Kenosha area will only see their rates increase 10 percent, though youth will still see a 38 percent increase. 

Commissioner Ted Nickel noted that “some consumers will be eligible for a taxpayer-funded subsidy” that will offset the premium costs for low-income earners, but predicted that “premiums will increase for most consumers.”

Via The Weekly Standard.