Really, it is time to throw dirt on the grave of Obamacare. Donald Trump could score a lot of points showing that it is on the verge of collapse. The polls are against it.
There is nearly a 10 point differential between those that favor versus oppose. And when people see this year’s rate increases that difference will likely double. Who likes Obamacare? People that let you pay for their coverage! In Minnesota, about 70,000 people had insurance through the Obamacare markets. Sixty-three percent got subsidies from the federal government. Who doesn’t like freebees?
But wait, Minnesotans. Your state is about to allow insurers in its Obamacare market to raise rates by at least 50 percent next year. Premium increases range from 50 percent to 67 percent (ouch)!
On average, rates in the state will rise by about 60 percent. Remaining insurers in Minnesota’s individual market plan to limit enrollment. Because Blue Cross/Blue Shield of Minnesota is leaving the exchanges (due to profound financial losses), the remaining insurers necessarily must avoid taking on too many new customers as this could harm both their finances and overwhelm the doctors and hospitals with whom they contract. The “unhealthy” combination of massive cost increases and enrollment caps is creating a health care crisis.
Did anyone see this coming? Yes! Every Republican in Congress!
And thanks to JM for sending this to me.