Obamacare rates to rise 4% in California for 2016
Source: Los Angeles Times
Defying dire predictions about health insurance rate shock across the country, Californias Obamacare exchange negotiated a 4% average rate increase for the second year in a row.
The modest increase for 2016, announced Monday, may be welcome news for many of the 1.3 million Californians who buy individual policies through the state marketplace, known as Covered California.
Californias rates are a key barometer of how the Affordable Care Act is working nationwide, and the states performance is sure to be hotly debated among supporters and foes of the healthcare law, including the current crop of presidential candidates.
Outside California, critics of Obamacare have seized on the fact that major insurers in several states have sought rate hikes of 20% to 40%.
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Read more: http://www.latimes.com/business/healthcare/la-fi-obamacare-rates-20150727-story.html#page=1
Helen Borg
(3,963 posts)Wages are not increasing at 4% levels...
zeemike
(18,998 posts)Big bonus time for them.
It is amusing that we are now to cheer and increase because it could have been worse.
tularetom
(23,664 posts)Odd, isn't it, that people are cheering about a rate increase that is higher than than the increase in the CPI over the past 3 years combined.
pnwmom
(108,925 posts)philosslayer
(3,076 posts)And certainly lower than its been in the past.
Helen Borg
(3,963 posts)Inflation is not at 4%...
JoePhilly
(27,787 posts)Oh wait, the ACA was supposed to flip the cost curve upside down immediately.
I forgot.
Helen Borg
(3,963 posts)But 4% is not reasonable. It's too high.
pnwmom
(108,925 posts)about Medicare, only ACA. If we had switched to Medicare-for-All, I bet you'd be saying it was great that in one year it had cut the rate of increase by more than half.
blm
(112,920 posts)targeted complaints from the NWO Republicans owned by the health insurance INDUSTRY.
Before ACA where was blame directed for the truly exorbitant rate hikes over that timeframe?
Gothmog
(143,999 posts)Fred Sanders
(23,946 posts)How soon folks forget about the past and details.