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It’s True: Obamacare “Health Insurance Payment Is About To Jump”

Tyler Durden
May 26th, 2016
Zero Hedge
Comments (37)


This article was written by Tyler Durden and originally published at Zero Hedge.

Editor’s Comment: Level-headed people and critics knew years ago. Now they are being proven right, not that it is any consolation to those who must pay it.

Obamacare is going to absolutely rape many of the people who are forced to pay for socialized medical care, passed under a cloud of lies and deceptions and meaningless reassurances about how “affordable” the forced-insurance will be. How will Americans be able to afford these sharp increases? Just as President Obama has stated, it will come at the cost of other necessities and conveniences of life – phones, utilities and quality food (that could prevent health problems).

This Is How Much Your Health Insurance Payment Is About To Jump By

by Tyler Durden

It’s official: years of warnings that Obamacare will lead to dramatic increases in healthcare premiums are about to be validated.

As the WSJ writes, big health plans stung by losses in the first few years of the U.S. health law’s implementation are seeking hefty premium increases for individual plans sold through insurance exchanges in more than a dozen states.

To be sure, we have extensively covered the imminent danger of rising healthcare prices as a result of Obamacare’s intrusive intervention in the insurance sector; however now that this is about to become mainstream information, we expect consumers to hunker down and save even more in anticipation of what is about to be a shock price increase for millions of middle-class American families.

As the WSJ reports, the insurers’ proposed rates for individual coverage in states that have made their 2017 requests public largely bear out health plans’ grim predictions about their challenges under the health-care overhaul. According to the insurers’ filings with regulators, large plans in states including New York, Pennsylvania and Georgia are seeking to raise rates by 20% or more.

In states such as Florida and Maryland, insurers are seeking to raise premiums by percentage averages that are markedly above 10%. Among those that have published so far, only in Vermont do big insurers’ requests fall below 10%.  Proposals still have to be approved by state regulators, and a full picture of final approved rates across the entire country likely won’t be known until shortly before HealthCare.gov and state equivalents reopen for the law’s fourth main enrollment window on Nov. 1.

Nonetheless, the proposed average increases that are available are a vivid indicator this year of how insurers are adapting to the 2010 Affordable Care Act’s transformation of the way health coverage is priced and sold in the U.S.

So for all those currently enrolled in healthcare plans administered in the following states, this is how much, on average, your plans will go up by.

The silver lining? Since this effective tax goes straight to “boosting US GDP“, we look forward to a year of “above trendling” GDP growth thanks to this forced reallocation of consumers’ disposable income into the infamous “healthcare” category.

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Author: Tyler Durden
Date: May 26th, 2016
Website: http://www.zerohedge.com/news/2016-05-26/how-much-your-health-insurance-payment-about-jump

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  1. Braveheart1776 says:

    I always knew that Obamacare would be nothing but a disaster and this is just one more piece of evidence to support my statement. I didn’t sign up for it and still won’t get it. I’ll just take my chances. I’ve still got health coverage from the private sector. If I lose that, then…..oh well.

  2. I hate it when they call this “Obamacare”. Never an ape is able to design anything. This should be called something like ” Tribecare”, ” JooCare”, “Parasite design care” since it was all about money and there is only one parasitic tribe in the world who’s behind it.

    Now America back to screaming Trump Trump……..

  3. FullyAwake says:

    Yes, a big disaster coming… I have just intentionally reduced my productivity and income so that the tax credit applies. Too many people are clueless about this making an effective tax rate higher on lower income people. Have a couple try to make just $1 more than the qualifying limit (i.e. near $62K for a couple), and they are hit with near $10K in tax. Once the masses learn the real consequences, they will reduce their work as well.

    Abolish the insane act!!!

  4. ronna says:

    I worked for a large insurance company that provided health coverage, and brought home 86k a year! It was a fantastic job, full of bennies and allowed me to retire at 55, at a pension of 60% of my income. These people are the second highest paid people in the USA. Only banks have higher paid employees! You pay for it dearly!


  5. Insurance is the biggest scam ever perpetrated save lending with compound interest and the introduction of paper notes in leu of gold.

  6. Menzoberranzan says:

    Anything with obozos name on it is fucked up.

  7. aljamo says:

    Along with eternal war, the elephant in the system, healthcare and the right or non right to all human beings. I’ll go with a necessary right in a decreasingly civilized world. Single payer is favored by the majority, I know the majority do not rule and never have, what we have is healthcare for the upwardly monied mobile. The healthcare inflation rate is astronomical and continually inflating, few can afford the cost. The supposed richest nation in the world can not afford health security for the citizens within? Healthcare providers should get much less pay, that schooling is not worth your desire to become a multi millionaire off of the peoples suffering. Get rid of the insurors and associated money grubbers, you are pathetic excuses for human beings, no amount of predatory gouging is ever enough, so you think. No healthcare is no civilized society. A nation that cares not about its weakest is an evil nation. Par for the course.

    • jaxx says:

      Wow. I’ve never ever heard anyone even *try* to claim that the majority favor single payer. That’s messed up. Personally, I know of three or four initiatives that would drop health costs by about 80% and make any insurance except maybe catastrophic obsolete. However, if someone actually implemented them then that person/those people would very quickly be killed by someone working on behalf of the health insurance industry, the lawyer groups, or one of a couple of other groups.

      It would be best if we could take health insurance conditions back to the 60s or 70s, but that’s not happening. So I’ll just keep my head down and carry on I guess.

  8. Old Geezer says:

    When told of the upcoming increases in Obamacare, Gomer Pyle only had one comment,: Surprise Surprise Surprise.

  9. Observer says:

    Right after the election the price skyrockets. And they get to blame the other guys. It’s a beautiful thing.

  10. anon says:

    Everything is going to be fine.

  11. rightwingterrorist says:

    Doesn’t it go up every quarter?

  12. PO'd Patriot says:

    Well when you have the notorious commander-n-thief “Black Bart Obama” running the show you shouldn’t expect much. You can’t take chicken shit and make chicken salad no matter how hard you try.

    • Braveheart1776 says:

      “You can’t take chicken shit and make chicken salad no matter how hard you try.” Po’d Patriot, you hit that one right on the head. I opted out of Obozocare altogether and still won’t get it. I don’t give a shit what feds or anyone else says.

  13. CaptAmeica says:

    Can’t be. Obama said it was not going to go up.
    He wouldn’t have lied would he?

  14. Satori says:

    just a heads up

    The superbug that doctors have been dreading just reached the U.S.

    h ttps://www.washingtonpost.com/news/to-your-health/wp/2016/05/26/the-superbug-that-doctors-have-been-dreading-just-reached-the-us

  15. rellik says:

    Obama care was never intended to work. It will destroy the private health insurance industry which may make B of A happy, but from what I see government provided health care isn’t the way to go.
    I have government provided health care( VA). My area is OK, but only parts of it, and across all America VA is very spotty. People are dying due to protected government union administrators and office staff not doing their jobs.
    Veterans are only about 2-3% of the population, not all of them are in the VA system, and it doesn’t work very well. What will happen when 100% of the population comes under a VA like single payer health system?
    Disaster, Cuban style. Only the very rich and powerful will get good health care. The rest of the people can lay in their vomit and blood in the emergency waiting room.

  16. aljamo says:

    Granted that veterans health issues importance has been downgraded along with the overall attitude of ever growing sick patients are good for the existing healthcare model. Not only are a large percentage of Americans unable to pay an unexpected bill for basic healthcare, but dental care is skyhigh in price also, the cost is way beyond reasonable, more like extortion or let them rot. This model is unacceptable through any logical sane thinking.

  17. Jim in Va. says:

    But but but…Euthanasia is cheap! Line up now for discounts! TSA will help you through the line..no more than a 3 hour wait.

  18. It’s not just about the money, but control also.

    Doctors are now asking specific questions they have no business asking (do you own firearms?, and more…). This a back-end approach to gun control. Tell them you own any weapon and they “inform on you” to the alphabet agencies, effectively putting you on the “RED” list forever more. Possibly even labeling you as mental due to the subject.

    Think very carefully what you tell your doctor or how you behave in front of them or their staff.

    Big Brother is here…

  19. Silly Me says:

    No single layer unless providers work for salaries and are motivated to heal, not to bill.

    • KY Mom says:

      Single Payer is the GOAL.

      Obama master plan on health care over the years in his own words–SINGLE PAYER (speech August 4, 2007)
      ht tp://www.youtube.com/watch?v=Kvg8qVKZYuM

  20. KY Mom says:

    Obama CLAIMS he had no idea Obamacare was passed by deceptive data claims and other lies. Pelosi also tried to CLAIM she never heard of Gruber.

    They must forget people have the internet.

    Additional tapes have now been found with Jonathan Gruber telling (bragging) how Obamacare was passed. The latest one is him telling how OBAMA WAS IN THE ROOM when they discussed some tactics (the Cadillac tax) to pass it.

    White House visitor logs CONFIRM that Gruber was at the White House the day of this meeting.

    “ObamaCare was passed because knowledge of what was in the bill was hidden and because of the stupidity of the American Voter…”

    “Lack of transparency is a huge political advantage,” says the MIT economist who helped write Obamacare. “And basically, call it the stupidity of the American voter or whatever, but basically that was really, really critical for the thing to pass.”

    Despite Democrat claims, trash-talking Gruber was a well-paid adviser for ObamaCare and more

    Taxpayers paid millions for the deceptions of the Obamacare architect, Jonathan Gruber
    —“The MIT economist who is the brains behind Obamacare has made quite a stir with his admission that President Obama’s health care takeover was built on lies.”

    “In yet another revealing video, Obamacare adviser Jonathan Gruber disclosed President Obama himself was part of the discussion about the need to deceive the American people to pass his signature health-care law.”

    “In a second video, he (Gruber) discussed how the costs were going to be imposed on Americans and said, “The American voters are too stupid to understand.”

  21. 2Legit says:

    So if single payer is the end game, what do you anticipate will change? How do you prepare?

  22. Copper says:

    Obama care is a great example of how the two party system is incestual. The dems produced the program and the Republicans played along. Rather than explaining why and how the program would fail, it turned into a political wedge. Using terms like death panels made people dismiss the attacks. It would be better to stay with facts and explain the potential outcome. Check out the libertarian views.

  23. Suzanne says:

    The Obamacare navigators said that since I earned about $900 a month, I should be paying $400 a month in premiums with a $4,000 deductible. Huh?
    It is outright foolishness to go along with this crap.
    I am a 50 year old lady that can’t get employment at this point… so I freelance for cash. I build simple websites for people and do illustration work.

  24. Suzanne says:

    The Obamacare navigators said that since I earned about $900 a month, I should be paying $400 a month in premiums with a $4,000 deductible. Huh?
    It is outright foolishness to go along with this crap.
    I am a 50 year old lady that can’t get employment at this point… so I freelance for cash. I build simple websites for people and do illustration work.
    ( If you know anyone who is interested, my portfolio site is http://www.coroflot.com/suzanne_powell )