Last week, Nebraskans discovered that insurance premiums would rise as much as 143%, thanks to the mandates in ObamaCare that will take effect in January. This week it’s Wisconsin’s turn. The local Fox affiliate reports that premiums will rise in every age category by at least a third, and that some coverage could increase as much as 125%, thanks to ObamaCare (via the Weekly Standard):
The state’s Office of the Commissioner of Insurance released estimates of how premium rates for individuals will change under the Affordable Care Act, or ACA. Those reflect increases from 10% on the low end to as much as 125%.
And with the requirement for individuals to have insurance set to start in less than a month, the law remains controversial.
Starting October first 500,000 Wisconsinites will have to shop for health insurance under the Affordable Care Act and according to the state’s Office of the Commissioner of Insurance, there will be drastic premium increases as a result.
The office compiled date from eight cities for $2,000 deductible plans for three different age groups. The study did not include the numbers of actual estimated costs, only percentages. But as an example, the study found, In Appleton a 21-year-old’s cost would increase 54%, a 40-year-old’s about 37% and a 63-year-old’s about 32%.
The Fox report at the link goes on for another two minutes, which mostly focus on the politics of ObamaCare repeal, but there is another note at the end which is worth watching. The state estimates that 92,000 Wisconsin residents will lose their health insurance, thanks to changes to BadgerCare prompted by the ACA, and will have to buy their insurance on the exchanges.
Even those who already have insurance won’t be able to keep their plans, as an insurance executive points out in arguing that the rate increases compare “apples to oranges” because of the broader coverage mandated by ObamaCare. To those who object to the jump in premiums, advocates note that this doesn’t include the subsidies provided by the federal government — but those aren’t taken from money trees, either. That cash comes from taxpayers from a federal government already running hundreds of billions of dollars in the red every year, and not everyone required to buy insurance through the exchanges will qualify for subsidies, either.
To recap: ObamaCare is not controlling costs or prices, and if you liked your earlier plan … tough.