The Corner

Obamacare: Health Insurance Prices Going Up!

I can’t imagine that one person in the USA is really surprised by this. Obamacare is forcing insurance rates up! Up! Up!  Aetna is raising rates by 100%. From the Bloomberg story:

Health insurance premiums may as much as double for some small businesses and individual buyers in the U.S. when the Affordable Care Act’s major provisions start in 2014, Aetna Inc. (AET)’s chief executive officer said. While subsidies in the law will shield some people, other consumers who make too much for assistance are in for “premium rate shock,” Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said. “We’ve shared it all with the people in Washington and I think it’s a big concern,” the CEO said. “We’re going to see some markets go up as much as as 100 percent.”

Also, Blue Shield in California is raising its rates 20%.  But heck, the recent election showed we Californians want more money taken out of our wallets. Oh right, only for bloated and incompetent government.

Was this planned to get us to single payer, or just incompetence that will lead to single payer?  I vote the former, but really, does it matter? Forward.


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