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As someone who saw his monthly health insurance premium double from $780 in 2013 to $1,460 this year, I was interested to see how long it would take for California’s Democrat leaders to fess up that there is nothing affordable about their version of the Affordable Care Act (Obamacare).
Facing political shock and awe as ten million working Californians are soon to get notices of big insurance premium increases for next year, Democrat Insurance Commissioner Dave Jones admitted July 29th that rates for individuals that enrolled in Covered California jumped by an average of 55% last year.
Patrick Johnston, Chief Executive Officer of the California Association of Health Plans, said last year just before the launch of Covered California, “The arithmetic is inescapable.” Costs must be spread, so while some consumers will see their premiums drop, others will pay more – “no matter what people in Washington say.”
After two years of swearing that Covered California would save money for working state residents, Insurance Commissioner Jones in a news conference said, “The rate increase from 2013 to 2014, on average, was significantly higher than rate increases in the past.” He eventually got around to admitting that "significantly higher" meant average healthcare insurance premium increases of 22% to 88%.
Jones also admitted for the first time that Covered California health insurance premium increases were the most punishing for young people in Los Angeles County age 25. The Commissioner stated rates jumped for the middle-of-road “silver plan” coverage by 52% for the young versus 38% more for the same plan for someone age 55.
The biggest contributor to this cost increase appears to be those paying for health insurance to subsidize the 1.5 million increase in the state’s Medi-Cal enrollment to 8.6 million or 22% of the entire population of the State of California.
The exploding costs of Covered California and other “affordable” regulations help explain why 81 to do business in the nation for the last three years running. This is reflected in the grim detail that California’s unemployment rate for the last three years has been at least 50% higher than the unemployment rate in neighboring Mexico.
As someone who saw his monthly health insurance premium double from $780 in 2013 to $1,460 this year, I was interested to see how long it would take for California’s Democrat leaders to fess up that there is nothing affordable about their version of the Affordable Care Act (Obamacare).
Facing political shock and awe as ten million working Californians are soon to get notices of big insurance premium increases for next year, Democrat Insurance Commissioner Dave Jones admitted July 29th that rates for individuals that enrolled in Covered California jumped by an average of 55% last year.
Patrick Johnston, Chief Executive Officer of the California Association of Health Plans, said last year just before the launch of Covered California, “The arithmetic is inescapable.” Costs must be spread, so while some consumers will see their premiums drop, others will pay more – “no matter what people in Washington say.”
After two years of swearing that Covered California would save money for working state residents, Insurance Commissioner Jones in a news conference said, “The rate increase from 2013 to 2014, on average, was significantly higher than rate increases in the past.” He eventually got around to admitting that "significantly higher" meant average healthcare insurance premium increases of 22% to 88%.
Jones also admitted for the first time that Covered California health insurance premium increases were the most punishing for young people in Los Angeles County age 25. The Commissioner stated rates jumped for the middle-of-road “silver plan” coverage by 52% for the young versus 38% more for the same plan for someone age 55.
The biggest contributor to this cost increase appears to be those paying for health insurance to subsidize the 1.5 million increase in the state’s Medi-Cal enrollment to 8.6 million or 22% of the entire population of the State of California.
The exploding costs of Covered California and other “affordable” regulations help explain why 81 to do business in the nation for the last three years running. This is reflected in the grim detail that California’s unemployment rate for the last three years has been at least 50% higher than the unemployment rate in neighboring Mexico.
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