Insurance Companies Estimate Average Premium Increase of 100 Percent

uh oh

While the Obamanoids lecture on how much better off you’ll be living under ObamaCare, the grim reality is massive premium increases that will make it harder for individuals and businesses to achieve any of their goals.

Internal cost estimates from 17 of the nation’s largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration’s goal of affordability.

New regulations, policies, taxes, fees and mandates are the reason for the unexpected “rate shock,” according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation.

The report found that individuals will face “premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent.”

Well I can’t imagine this hurting the economy in any way. I’m sure massive health care cost increases, with the money ending up mired in the bureaucracy, will in no way prevent businesses from creating new jobs and individuals from keeping their jobs.

  • Rifleman

    Our company policy has gone up between 20 and 35% a year for the last four years, so it's already doubled for some of us. If it doubles again we won't have company insurance anymore where I work. That's what the democrat party wants, so we will have to go into their government exchanges. When they have a high enough percentage of the population in those exchanges, they'll declare private health care a failure, nationalize what's left, and institute their national health care system.

    • cowboylogic

      That's the plan.

  • puca58

    The 'goal' was never to ensure affordable health care…it was always to destroy the private insurance industry and force everyone into a single payer (government) system. Each and every one of those sycophants who voted for it sold us all down the river. Welcome to the world of socialized medicine…it will be consistently untenable, aggravating, lacking in quality and will ultimately, if not directly, contribute to your demise. But hey, it'll decrease the surplus population.

  • xkn

    Yup, everything is working just as planned….

  • Flowerknife_us

    If my premium doubles then I'm right back to having too much health care.
    I'm still puzzled as to how those who never could afford Health Insurance before are going to find the money to pay for it now? Before one had the choice-now they do not.

    The Insurance Industry has to rate the policy's based upon Government mandates. Realistically-How much difference could there be in price between any Company when all the policy's are the same?

    This is not a Health care bill. It is a bill directed to extract wealth from anyone who has it.It will be pro-rater by income. If the IRS thinks all your disposable Income is needed to cover your health then you'll pay. If you have no money then you cannot engage in activities that are unhealthy. When you can no longer afford the gas to drive to work, the Board will just consider walking to be good for you.

  • Looking4Sanity

    My advice? "Don't get sick. You can't afford it."

  • Nekil

    Insurance sector development is very important for the society. People mostly prefer to invest money in the insurance sector as it is providing many facilities for a good life and also healthy life. This sector also consist many agencies and many agents also brokers are there. It will be better for you if you will verify before going for any insurance.