It’s Bad News for 2015 Health Insurance Rates

“If you have got health insurance we will work with your employer to lower your premium by $2,500 per family per year” President Barack Obama on the Affordable Care Act (see you tube video).

In a Democrat and Chronicle article from July 5th health insurance rate increases were announced by all major health insurance companies in New York and it is extremely bad news for families. “Excellus Health Plan, based in Rochester, proposed a 19.7 percent increase; Empire BlueCross, based in Albany, is seeking a rate increase of 18 percent; and MVP Health Care, based in Schenectady, wants a 19 percent increase.”

http://www.democratandchronicle.com/story/vote-up/2014/07/03/ny-health-insurers-want-13-rate-hike/12167821/

Further, if you are one of the 86,000 Medicare Advantage (MA) subscribers in greater Rochester the news is no better. Obamacare cuts MA money causing premiums to rise while using the money for subsidies to buy insurance on the exchange. In a WROC TV news story (see link below) MVP Health Care officials stated “higher premiums are due to lower federal reimbursement. Plus, President Obama’s Affordable Care Act requires health plan members to cover the uninsured.”

http://www.rochesterhomepage.net/story/d/story/retirees-seeing-hike-in-medicare-premiums/26745/OpFxlRi96kW5GbfLvUfgrg

Bottom line is the ACA by any and all measures is not performing as promised. This is not acceptable and must change. It is time to open up health insurance competition across state lines to drive down prices and restore funding for Medicare Advantage and Medicare.