Humana Health Insurance Rates Increase 65%

Jun 3, 2016

  1. somarco
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    somarco GA Medicare Expert

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    Humana customers may see their insurance premiums soar next year as the insurance company is still struggling with the Affordable Care Act.

    The insurance company has filed a rate increase proposal with the state asking to raise rates by a whopping 65% for 2017.

    Harken Health Insurance Company wants to hike premiums by more than 40%

    Rate hikes possible for GA insurance customers | 11alive.com
     
    somarco, Jun 3, 2016
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  2. GreenSky
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    GreenSky Guru

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    It's just a political ploy. The DOI will call the rate increase unreasonable and protect consumers by getting Humana to agree to something deemed affordable in the 30-35% range.

    If you object to Obamacare you are racist. It was passed for our own good, to keep prices down, increase competition, and allow more access to quality healthcare.

    Rick
     
  3. Yagents
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    Yagents Guru

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    With carriers having proof of losing money in years 1 & 2, and the MLR capping profits, these large rate increases will go through. They are all just getting to a point of breakeven, or at most a 5% profit.

    If they don't get the requested increase, they will walk away.

    After losing 1/4 of a BILLION dollars, and MLR profit caps, a large carrier in AZ said it would take 10-20 YEARS to break even on IFP business.
     
    Yagents, Jun 3, 2016
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  4. Tkruger
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    Tkruger Guru

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    They have requested 43.59% in FL for their HMOX plan. Also to note that the Tampa Bay HUMx is only being offered via small group...or at least that is what they have filed for.
     
    Tkruger, Jun 3, 2016
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  5. Key2Success
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    Key2Success Guru

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    A racist is "always" the first to play the race card.
     
  6. somarco
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    somarco GA Medicare Expert

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    Humana has had the "hot hand" and one of the broadest networks in GA for several years. They didn't slow down a bit in 2014 and have paid the price.

    The IFP market here was a good one for them until 2014 when it went to Hell in a handbasket.

    Frankly, I am surprised they are even thinking of returning.
     
    somarco, Jun 3, 2016
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  7. Yagents
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    Yagents Guru

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    They have to submit plans to play nice with state regulators to approve merger.
     
    Yagents, Jun 3, 2016
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  8. somarco
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    somarco GA Medicare Expert

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    I thought the feds were the only ones that approved (or disapproved) mergers. If you have to get approval from all 57 DOI's it will never happen.
     
    somarco, Jun 3, 2016
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  9. goillini52
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    goillini52 MAGA...Eat More Bacon & BUILD THAT WALL!!!

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    Hey Bob, you haven't kept up with the times. There're 60 DOI's. O'bama has been to 57, but there are 3 he hasn't been to.:laugh:

     
    Last edited by a moderator: Oct 10, 2017
  10. AllenChicago
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    AllenChicago Guru

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    Title says Humana, but Harken is going up 40%? I know...you're excited to see your predictions come true, but which one is going up 40%?

    ----------


    I agree. Plus the bail-out (or whatever its officially called) has expired. But what about the 93% of Americans on Group or Medicaid plans. Will they give a hoot what happens to that little slice of IFP policyholders? The big headlines all over the internet are SCARY, but...
     
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