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AETNA CEO Sees Health Law Doubling Some Premiums...
#1
LOL suckahs !!!

http://www.bloomberg.com/news/2012-12-12...miums.html

Health insurance premiums may as much as double for some small businesses and individual buyers in the U.S. when the Affordable Care Act’s major provisions start in 2014, Aetna Inc. (AET)’s chief executive officer said.

While subsidies in the law will shield some people, other consumers who make too much for assistance are in for “premium rate shock,” Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said.

“We’ve shared it all with the people in Washington and I think it’s a big concern,” the CEO said. “We’re going to see some markets go up as much as as 100 percent.”

Bertolini’s prediction is at odds with Congressional Budget Office estimates that the law will have little effect on small and large-employer plans and the Obama administration’s projections that middle-class families will actually save money. The 2010 law is expected to extend health care to about 30 million people who otherwise couldn’t get insurance, paid for by new taxes and fees on companies and wealthier individuals.

Those taxes will make coverage more expensive for insurers, as will other provisions such as a ban on discriminating against people with pre-existing medical conditions, Bertolini said. Premiums are likely to increase 25 percent to 50 percent on average in the small-group and individual markets, he said, citing projections by his Hartford, Connecticut-based company.
High Estimate

The one-time jump in rates also includes increases in costs that would come even without the law, Bertolini said.

“That just seems silly,” said Gary Claxton, a vice president at Kaiser Family Foundation, a Menlo Park, California- based nonprofit that studies health issues. “I can’t imagine anything going on in the small-group market that would change the average premium that much. On the individual market, there’s arguments for things changing, but those magnitudes seem high.”

The Obama administration said last year that “middle-class families” buying insurance through the law’s new online exchanges may save as much as $2,300 a year starting in 2014. Nick Papas, a White House spokesman, declined to comment on Bertolini’s predictions.

The CBO estimated in 2009 that the law will increase premiums 10 percent to 13 percent for individuals and have little effect on small and large-employer plans. After the subsidies are factored in, individual bills will go down by about 60 percent, the agency predicted.

About 43 percent of people who buy on the exchanges, or individual markets outside of them, won’t be eligible for subsidies, according to the report. They would see premium increases “somewhat less” than 10 percent to 13 percent, CBO predicted.
"In 4 more OMao years you won't like how America looks....I guarantee it."
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#2
And interestingly enough...supposedly Obamacare is supposed to make it easier for people with pre-existing conditions to get insured.

Not so far! Our insurance has gotten too expensive so we were trying to switch to a higher deductible plan to save premiums. Well...I'm pretty healthy, non-smoker, not overweight, all that....and they denied me. One, because I go to the chiropractor sometimes. Two, because I got ONE single bottle of a sedative to use occasionally while I was going through a really stressful time while giving up my business, but never actually diagnosed with "anxiety" as a condition, and not on any type of daily med. And three, because my heartrate is too fast sometimes, but I'm not on any meds for it, but I had been given some meds at one point for it. Because of that, our family was denied. I'm actually taking NO meds for any condition on a daily basis.

Just more lies, lies, lies.....not only is it more expensive to get insurance, but its more difficult! Thankfully we can still keep our current insurance for awhile, but not sure how much longer it will be possible.
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#3
blue cross of califonia yesterday asked for a 20% rate hike
It's the "BILL OF RIGHTS" not the bill of "needs"
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#4
My family and I are on COBRA right now, I really didn't need to hear this. Angry
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#5
BCBS here was 30% last year but then held this year without raising...assuming last year's was over the top "just in case" on their part.

Aetna was the one that denied us....we still have BCBS.
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#6
middlefinger;52622 Wrote:blue cross of califonia yesterday asked for a 20% rate hike

Ours has gone up 20% each year since Obamacare added the 26 year old coverage provision. BC/BS here as well.

Anybody who thought this wasn't gonna cost us all a whole lot more is seriously dain bramaged.
I don't suffer from insanity.
I enjoy every minute of it.
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#7
AETNA doesn't need this excuse to hike their rates. About 4 years ago my insurance jumped 40% while cutting my coverage down significantly with them giving no other reason than "rates are going up for everybody". This pushed my insurance, for a 27 year old with no kids or wife up to almost ten thousand a year!
I switched to BC and am now paying less than $4000/year for better coverage than I originally had. I will never recommend AETNA to someone, they're a bunch of crooks in my opinion.
My guns have killed less people than Obama's ATF has.
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