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Economy
Health Insurance Companies Seek Big Rate Increases for 2016
2015-07-05
Health insurance companies around the country are seeking rate increases of 20 percent to 40 percent or more, saying their new customers under the Affordable Care Act turned out to be sicker than expected. Federal officials say they are determined to see that the requests are scaled back.

Oregon not only approved rate increases requested by insurance companies, but also directed those companies who did not request an increase to raise their rates. The reasoning was "to cover insurers' costs and keep well-heeled companies from driving others out of the market-- thus hurting competition and rates in the long run."
Posted by:Pappy

#8  Sounds like it is time for 'the states' to step in. Or 'the state'.

FORWARD to the Detroitifcation of America!
Posted by: Airandee   2015-07-05 18:30  

#7  That was the problem with Obamacare in the beginning.

The uninsured that Obamacare wanted to save, were mostly young healthy citizens who did not perceive a need for insurance.

When you look at the piles of stuff in the mandatory package, contraception, abortion, pediatric, geriatric, ob-gyn(even for males), Obamacare is a tax and a Ponzi scheme all in one.

The healthy who are forced to purchase care pay for the care of the unhealthy.

The unhealthy are the only ones who have an incentive to sign up for Obamacare.

That and the fact the fine print in Obamacare make it a grand payoff to the insurance industry for their support of Obama in two elections. Much as the stimulus was a payoff to the banks and wall street who donated millions to Obama knowing he would make them all rich with the stimulus.
Posted by: Bill Clinton   2015-07-05 16:03  

#6  Rename obamacare - forced extortion.
Posted by: newc   2015-07-05 13:10  

#5  Ponzi schemes always need more and more new blood coming in. Otherwise it needs to take more from the old blood.

Its not as if this wasn't predicted from the start.
Posted by: CrazyFool   2015-07-05 10:38  

#4  Ahhh, the glories of government price fixing, Ain't fascism a wonderful thing?

I particularly like the companies have to raise their prices to help competition. I'm too old to deal with global insanity.
Posted by: AlanC   2015-07-05 07:45  

#3  oops, that was suppose to be a strike through not an italics. My bad. The sarc is deep this morning.
Posted by: Procopius2k   2015-07-05 07:44  

#2  From the geniuses people who came up with the racket Balloon Mortgages that brought us to the financial abyss of the '08 Melt Down, behold the Balloon Healthcare program, aka Obamacare. File under - Magic Money Tree.
Posted by: Procopius2k   2015-07-05 07:43  

#1  Some say the marketplaces have not attracted enough healthy young people. “As a result, millions of people will face Obamacare sticker shock,” said Senator John Barrasso, Republican of Wyoming.

Blaming reluctant youth. Nice touch. Perhaps there might be some method developed for blaming the youth for 'Global Warming' as well. Better they were never born eh ?
Posted by: Besoeker   2015-07-05 02:24  

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