Report of 55% Premium Increases!

[taterpeeler]

I just got this from a carrier providing state updates here is what they say for Oregon:

OREGON: The state released an actuarial analysis last week detailing the anticipated impact of the ACA on the individual and small group markets. The analysis predicts that premiums will rise between 27 percent and 55 percent in the individual market. Small group premium changes are estimated between a 5 percent decrease and a 16 percent increase. The report also analyzes the role that other factors, such as essential health benefits, market mergers, and market reforms, play in the overall estimates.
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Duh fun is about to begin in spades.... check that I mean hearts... dont wanna be called a rascist

 

[GreenSky]

The good news is that even with a 55% increase premiums will decrease 3,000% due to ObamaCare.

Everyone in the 57 states heard him stay this.

Rick

 

[Yagents]

Gone are the days where IFP was 50% the cost of group. With O'care, all IFP will be the same price as group today + 10-20%. This is why your NON GF higher income clients are gonna blow up!!

I spoke to 3 GF clients yesterday, all have higher income, all staying with their GF plan. These will stay on the books past 2014. One of them shows $0 taxable income, but will keep his $200/mo GF plan so he doesn't have to choose Medicaid for free. Being in the medical field, he actually wants good health care.

 

[timamr]

I just got this from a carrier providing state updates here is what they say for Oregon:

OREGON: The state released an actuarial analysis last week detailing the anticipated impact of the ACA on the individual and small group markets. The analysis predicts that premiums will rise between 27 percent and 55 percent in the individual market. Small group premium changes are estimated between a 5 percent decrease and a 16 percent increase. The report also analyzes the role that other factors, such as essential health benefits, market mergers, and market reforms, play in the overall estimates.
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Duh fun is about to begin in spades.... check that I mean hearts... dont wanna be called a rascist[/QUOTE

If this is true, do you have a link of it to post so I can check it out? I'd love to show it to a few non agent buddies that swear ACA is gonna give everyone in America access to health ins., and at a cheaper cost.

 

[taterpeeler]

timamr i got it from the insurance company that starts with a and has 5 letters. it was in their health care reform update they send out every week.

I make it a practice to never publish info sent from carriers as it always states "for agent use only" just protecting my appoitment

 

[timamr]

Understood! Thanks!

 

[Norwayguy]

Gone are the days where IFP was 50% the cost of group. With O'care, all IFP will be the same price as group today + 10-20%. This is why your NON GF higher income clients are gonna blow up!!

I spoke to 3 GF clients yesterday, all have higher income, all staying with their GF plan. These will stay on the books past 2014. One of them shows $0 taxable income, but will keep his $200/mo GF plan so he doesn't have to choose Medicaid for free. Being in the medical field, he actually wants good health care.

Actually you might see IFP be more costly than group coverage because when you can not screen for health questions at least with group you know they are healthy enough to work. Maine is GI and IFP is almost nonexistent and more costly than group coverage.

 

[Yagents]

Interesting point. But I seem to recall that PPACA requires them to put group and IFP in the same risk pools, but maybe not.

 

[taterpeeler]

Interesting point. But I seem to recall that PPACA requires them to put group and IFP in the same risk pools, but maybe not.

could be that group is GI already and this will provide less of an increase since more small groups will catapult over to indy. Indy policies of course will be GI for the first time for the majority of the nation

 

[somarco]

IFP rates will double at a minimum and most likely triple, especially since the mandate is essentially unenforceable. I would not be surprised to see IFP rates higher than small group by the end of 2014.

Of course this assumes there are any small group carriers still active in the market.