Obamacare Insurer WellPoint Sees Double-Digit Rate Rise

[jaichind]

http://www.bloomberg.com/news/2014-03-25/obamacare-insurer-wellpoint-sees-double-digit-rate-rise.html

"Two months before health insurers must submit rate proposals for 2015 to government regulators, WellPoint Inc. (WLP) fired a surprising shot across their bow by predicting it may ask for “double-digit plus” increases."

“Already you hear that people aren’t signing up because it’s too expensive,” he said. “If, next year, there’s a double-digit increase, there’s going to be more people who say they can’t afford it anymore, who are the ones who need it least. The sicker population tends to stay with you.”

[AggregateDemand]

Who could have guessed premiums would increase sharply?

ACA is a nightmare. Keeps employees chained to their jobs. Weak cost controls. No incentives to self-insure for basic services. Forces citizens to buy services they may not want or need.

Complete waste of time and energy.

[Sbane]

A $5,000 tax penalty would sort out things just fine.

[AggregateDemand]

A $5,000 tax penalty would sort out things just fine.

If your goal is to see how fast premiums can rise

[Sbane]

A $5,000 tax penalty would sort out things just fine.

If your goal is to see how fast premiums can rise

You have no clue what you are talking about, do you?

[7,052,770]

ITT:  People who don't know a thing about health insurance pricing opining on such.

[Small Business Owner of Any Repute]

The independent analyst in the story says WellPoint's guess is "on the high side." And, FWIW, double-digit rate hikes weren't unusual pre-ObamaCare. In 2011, the average premium increased by 9.46%.

There's nothing unusual about a private company suggesting that they will request dramatically higher revenues in the future if they think they can get it.

[AggregateDemand]

The independent analyst in the story says WellPoint's guess is "on the high side." And, FWIW, double-digit rate hikes weren't unusual pre-ObamaCare. In 2011, the average premium increased by 9.46%.

There's nothing unusual about a private company suggesting that they will request dramatically higher revenues in the future if they think they can get it.

ACA is functioning like pre-reform healthcare? Well, at least you're not bashful about admitting abject failure.

[Small Business Owner of Any Repute]

The independent analyst in the story says WellPoint's guess is "on the high side." And, FWIW, double-digit rate hikes weren't unusual pre-ObamaCare. In 2011, the average premium increased by 9.46%.

There's nothing unusual about a private company suggesting that they will request dramatically higher revenues in the future if they think they can get it.

ACA is functioning like pre-reform healthcare? Well, at least you're not bashful about admitting abject failure.

I guess you could say that. You know, if you ignore what this 'news' actually is and means.