Wednesday, June 25, 2014

Rate Shock

Some of the favorite Republican talking points against Obamacare were that it would never get people to sign up, that it would never attract younger people to balance out the needs of the older people, and worst of all, it would raise insurance premiums to the stratosphere.

Well, they were wrong on the numbers of people signing up, wrong on the number of younger people signing up for it, and now we find out that insurance companies are not going to raise their rates; in fact, here in Florida there are some companies that are going to lower them.

Something unprecedented may be unfolding in Florida’s individual health-insurance market: None of the nine companies that have filed their 2015 rate requests so far wants an increase.

In fact, two of the companies — Molina Healthcare of Florida and Sunshine Health — actually requested a price cut.

None of the companies will talk about their filings until they are approved; and a spoiler could still pop up in the four days that remain before the deadline for plans to compete in the 2015 enrollment.

But consumer advocates are cautiously optimistic that this is evidence that the Affordable Care Act is restraining prices for individuals who don’t get coverage through a group.

“The fact is, an overall pattern of insurers not seeking rate increases — and even seeking rate decreases — is unheard of,” said Greg Mellowe, policy director for the consumer advocacy group Florida CHAIN.

The GOP is supposed to be the party of the people who know how business works; they’re the captains of capitalism and corporations who live and breathe this sort of stuff.  These are the same people who said it would be good for General Motors and Chrysler to go broke and that it would be good for the country if we let bankers run wild in the streets with sub-prime mortgages.  These are the folks who tell us it’s a dog-eat-dog world and ideas such as making insurance affordable will destroy America.

Well, look who’s wearing the Milk Bone underwear now.

One bark on “Rate Shock

  1. Unfortunately, no amount of contradictory facts is going to shut these people up. They’re the same bunch who deny evolution and climate change.

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