Middle-income consumers face an estimated 30% rate increase, on average, in California due to several factors tied to the healthcare law. Some may elect to go without coverage if they feel prices are too high. Penalties for opting out are very small initially. Defections could cause rates to skyrocket if a diverse mix of people dont sign up for health insurance. Pam Kehaly, president of Anthem Blue Cross in California, said she received a recent letter from a young woman complaining about a 50% rate hike related to the healthcare law. She said, I was all for Obamacare until I found out I was paying for it, Kehaly said. Nearly 2 million Californians have individual insurance, and several hundred thousand of them are losing their health plans in a matter of weeks. Blue Shield of California sent termination letters to 119,000 customers last month whose plans dont meet the new federal requirements. About two-thirds of those people will experience a rate increase from switching to a new health plan, according to the company. latimes/business/la-fi-health-sticker-shock-20131027,0,2756077.story#axzz2iwN6OsdE
Posted on: Mon, 28 Oct 2013 06:25:14 +0000
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