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Breitbart Explains Why the Price Hike with Covered California

Covered California

Breitbart goes over the main reasons on why insurance rates are skyrocketing.

 

Covered California, the state’s Obamacare health exchange, has started mailing notices to 1.3 million subscribers, announcing rate hikes of up to 57 percent for next year.

California health regulators have been forced to approve stunning rate hikes as insurance companies, doctors, and other health professionals continue to flee Covered California’s high costs and rigid health mandates.

California’s version of Obamacare sent its 1.3 million subscribers and prospects a mailer inviting them to go to the Covered California website and use the “Shop and Compare” tool to see just how much health insurance premiums skyrocketed.

The statewide “sticker shock” for Covered California healthcare insurance premiums next year is 13.2 percent — more than triple the roughly four percent increases in each of the previous two years.

Two of California’s biggest insurers — Blue Shield and Anthem — asked for some of the biggest statewide rate hikes. Blue Shield’s premiums are spiking up by an average of more than 19 percent, and Anthem’s rates are leaping by more than 16 percent.

The only reason that Covered California has not collapsed is that 90 percent of Covered California subscribers get subsidies, according to the IRS. Last year, that average federal subsidy for more than 800,000 California households was $5,200 a year, about $436 per month.

Read More: http://www.breitbart.com/california/2016/10/17/covered-california-notifies-subscribers-57-percent-rate-increases/

Breitbart goes over the main reasons on why insurance rates are skyrocketing.

 

Covered California, the state’s Obamacare health exchange, has started mailing notices to 1.3 million subscribers, announcing rate hikes of up to 57 percent for next year.

California health regulators have been forced to approve stunning rate hikes as insurance companies, doctors, and other health professionals continue to flee Covered California’s high costs and rigid health mandates.

California’s version of Obamacare sent its 1.3 million subscribers and prospects a mailer inviting them to go to the Covered California website and use the “Shop and Compare” tool to see just how much health insurance premiums skyrocketed.

The statewide “sticker shock” for Covered California healthcare insurance premiums next year is 13.2 percent — more than triple the roughly four percent increases in each of the previous two years.

Two of California’s biggest insurers — Blue Shield and Anthem — asked for some of the biggest statewide rate hikes. Blue Shield’s premiums are spiking up by an average of more than 19 percent, and Anthem’s rates are leaping by more than 16 percent.

The only reason that Covered California has not collapsed is that 90 percent of Covered California subscribers get subsidies, according to the IRS. Last year, that average federal subsidy for more than 800,000 California households was $5,200 a year, about $436 per month.

Read More: http://www.breitbart.com/california/2016/10/17/covered-california-notifies-subscribers-57-percent-rate-increases/