Hoosiers took one on the chin on Friday when state insurance regulators announced that health insurance premiums for individual plans would increase by 72%, a result of the ObamaCare’s new mandates and regulations:Insurance rates in Indiana will increase 72 percent for those with individual plans and 8 percent for small group plans under President Barack Obama’s healthcare overhaul, according to the state’s insurance department.
The spike in costs is due primarily to new mandates under the law, which requires insurers to cover those with pre-existing conditions and to offer a minimum level of benefits, said Logan Harrison, chief deputy commissioner with the Indiana Department of Insurance under Republican Gov. Mike Pence. New taxes and fees under the law also contributed, Harrison said.
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Costs for individual plans is expected to increase from an average of $255 per member per month in 2012 to $570 in 2014, when the most aspects of the law go into effect, Harrison said.
The increased costs of individual plans will only impact the people buy insurance on their own, about 200,000 people right now, Harrison said. Most Hoosiers — about 70 percent — get their insurance through their employers.
While the Obama Administration and Democrats in Congress promised that ObamaCare would be beneficial to Americans, there has been a near constant stream of stories showing that it will raise health insurance premiums — and dramatically, in many cases. Just last month, regulators in Ohio announced an 88% premium increase for individual insurance plans and an analysis by the Wall Street Journal found that insurance premiums in eight states could increase by 150%.
Poster Comment:
Hey all you socialist Obama voters... here comes your free socialized medicine, you fucking idiots.
