Blue Cross requests 15 percent increase for Obamacare plans in 2018

[yallerdawg]

Source: al.com, by Amy Yurkanin

Blue Cross Blue Shield, the only Alabama company that sells individual policies on the federal exchange, is requesting average premium increases of 15 percent next year, but rates for some customers could jump by 20 percent.

About 90 percent of the 190,000 consumers in Alabama who buy individual policies through the federal exchange receive subsidies to offset the cost of premium increases. Higher-income people who don't qualify for subsidies but still purchase insurance through the exchange will have to pay full cost.

In its rate increase justification, Blue Cross cited policy changes that have been proposed by President Donald Trump. After the failure of GOP-led efforts to repeal and replace Obamacare, the president has suggested he would "let Obamacare implode" by taking steps to undermine policies that expand coverage and cut costs.

Recently, Trump tweeted that he might end cost-sharing reductions - federal payments to insurance companies to help make health care more affordable to low-income people. Cost-sharing reductions are only available for silver-level plans.

The company's statement also said it expected fewer healthy customers to sign up if federal authorities stopped enforcing the individual health insurance mandate, which requires people to obtain coverage or pay a tax penalty. Although Trump cannot end the mandate, he can instruct the IRS to reduce enforcement or increase exemptions. Insurers worry that such moves would take healthy customers out of the risk pool and increase costs for those who remain.

Read it all at: http://www.al.com/news/index.ssf/2017/08/blue_cross_requests_increase_o.html#incart_river_home

[Not Ruth]

1. I never trust round numbers

I pictured them on the golf course saying 10 percent, nah too low.