June 4, 201511 yr ...asking for rate increases? One is asking for 25%. Thought this mess was supposed to keep costs down? LINK
June 4, 201511 yr Just about all rates, nation wide, are expected to rise by double digit percentages this year... Thanks Obama..
June 4, 201511 yr Kentucky Health Cooperative was under cutting all the big guys with crap plans and networks and offering cheap plans on the exchange. That result of that was a book of business that has a large number of unhealthy people. That business model was not sustainable obviously. There was a reason they were way cheaper than everyone else. It was only a matter of time before they had significant rate increases.
June 4, 201511 yr Costs to consumer up. Services down...all predicted.... Ky hospitals: Obamacare forcing cuts, layoffs While Kentucky has gained national prominence as the only Southern state to fully embrace Obamacare, its hospitals say the law has left them facing billions of dollars in cuts and forced them to lay off staff, shut down services and worry for their financial health, and in some cases, survival. ... "Kentucky hospitals will lose more money under the Affordable Care Act than they gain in revenue from expanded coverage," it said, experiencing a net loss of $1 billion by 2020. I have heard that the issue of funding is not unknown in Frankfort and there are efforts to bypass laws related to funding ACA mandated providers. Remember, the 'teaser rate' (by way ot subsidies) by the Feds starts to go away in 2016 - then the states that took the bait will be on their own to fund the expanded programs.
June 4, 201511 yr Somebody has to pay for the increased amount of health insurance plans. I agree, it's not really rocket science.
June 4, 201511 yr Keep costs down... HA! You're right, that was the deal, but then the plan was put into place and there are essentially ZERO cost-control measures.
June 4, 201511 yr Kentucky Health Cooperative may have under cut in some cases, but $500 a month for an adult and child doesn't seem that affordable to me. Then it goes to over $600 with rate increase. Anthem wasn't much different in pricing either...it was very similar for the same plans. That is for crap plans with high deductibles and high out of pocket...a plan that was similar to my plan at work would have cost around $1000 at either of them.
June 4, 201511 yr Lack of competition and a captive market are increasing the plans also. Doctors, Hospitals and consumers were all against the ACA...the only people for it were the insurance companies. I'd love to have a business in which every American was forced to buy from me and I only had limited competition...you could charge what ever you wanted...which they are. The ACA will cause healthcare to be the next economic bubble to burst...then our government overlords will step in with the next steps to socialized medicine...which was IMO the point of ACA in the first place. Unless competition is truly opened up and some of the red tape and administration hassles that are driving up administration cost for hospitals and doctors are eliminated, no one will be able to afford health insurance in the next 5 to 10 years. Edited June 4, 201511 yr by Jumper_Dad
June 4, 201511 yr Kentucky Health Cooperative was under cutting all the big guys with crap plans and networks and offering cheap plans on the exchange. That result of that was a book of business that has a large number of unhealthy people. That business model was not sustainable obviously. There was a reason they were way cheaper than everyone else. It was only a matter of time before they had significant rate increases. See I dont understand this, when I looked at the rates of the KY plans it was 3 times what my current rate is on my own individual plan.
June 4, 201511 yr See I dont understand this, when I looked at the rates of the KY plans it was 3 times what my current rate is on my own individual plan. Your employer plan? Typically your employer plan will always be cheaper.
June 4, 201511 yr ....but no one seemed to be able to figure this brilliant idea out when it rolled to the public. I guess I'll have to keep working to support stupid
June 4, 201511 yr Your employer plan? Typically your employer plan will always be cheaper. No my individual (on my own) plan that I have had since 1998. My employer plan is almost as much as the health exchange, hence why I dont have a plan through my company.
June 4, 201511 yr No my individual (on my own) plan that I have had since 1998. My employer plan is almost as much as the health exchange. Gotcha sounds like you have an old grandfathered plan, DON'T change it until they make you.
June 4, 201511 yr Gotcha sounds like you have an old grandfathered plan, DON'T change it until they make you. I dont want to, but at the rate its going, its going to cost more per month than my mortgage is.
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