Obamacare premiums will be increasing next year. It is also expected the insurance mandates will drive premiums up even higher. Essentially, the more people to participate the more upside-down the system becomes.
State DOI (Department of Insurance) have been releasing the rate proposals they’ve received from insurers for the next open enrollment in 2016.
BCBS of Tennessee wants to move its Obamacare premiums up 36%. So now the family of four paying $1200 a month will increase to $1632. Other states like Oregon have reported as high as 50% increases by MODA health. CareFirst of Maryland, one of the most backward companies in America, has another 30% increase scheduled. A sad statistic from a state handling their own exchange with low enrollments. North Dakota has seen great job growth but greater rates with a 43% increase expected, the Kansas at 38% and Iowa is expecting 18%.
Much of the problem stems from the governments underlying belief that a healthy public has yet to enroll. Evidently, they have yet to accept that this “healthy” public does not exist in the numbers that they need to offset the huge cost of medical care for the overwhelmingly unhealthy population riddled with obesity and diabetes.
The next president is expected to inherit quite a mess. Essentially, the Obamacare is working in that people are getting covered, but like a college kid with a credit card, a day of reckoning will arrive. Eventually, the government has to decide how much money it wants to print, or what additional huge taxes does it want to implement to help dump money into the system.
Today it is estimated the Federal government squanders over $1300 for each new enrollee. Money that could be going toward education and exercise programs. Some would argue the TV show Biggest Loser has done more to help healthcare in our country than the entire Obama administration. However, with this being said, it is still advised to quickly sign up for Obamacare and get your hand out money. The site www.ApplicationForObamacare.com has hands out millions of dollars a day during Open Enrollment, which is slated for 11/01/2015 to 01/31/2016.