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Insurance Companies Estimate Average Premium Increase of 100 Percent

Posted By Daniel Greenfield On May 15, 2013 @ 12:12 pm In The Point | 7 Comments

uh oh [1]

While the Obamanoids lecture on how much better off you’ll be living under ObamaCare, the grim reality is massive premium increases [2] 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.

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[1] Image: http://frontpagemag.com/wp-content/uploads/2013/05/uh-oh.jpg

[2] the grim reality is massive premium increases: http://washingtonexaminer.com/insurers-predict-100-400-obamacare-rate-explosion/article/2529523

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