California: Trump sabotage could equal up to 49% hikes, 340K losing coverage
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** I can see Anthem defensively raising rates by 49% - just in case - and just threatening the withdrawal of funding could be enough for giant increases - it's insane that this is still something Trump can do on his own
http://acasignups.net/17/04/28/california-trump-sabotage-could-49-hikes-340k-losing-coverage
Fri, 04/28/2017 - 4:59pm
Here's yesterday's press release from Covered California referred to by Dan Mangan of CNBC a little while ago:
New Analysis Shows Potentially Significant Health Care Premium Increases and Drops in Coverage If Federal Policies Change
California’s premiums could rise by 28 to 49 percent in 2018, and up to 340,000 consumers could lose individual market coverage if changes are made to existing federal policies.
The potential rate increase would mean billions of dollars in additional federal spending. The 1.2 million consumers who do not receive subsidies would bear the entire brunt of these increases.
The potential decrease of 340,000 insured consumers would not only represent many individuals losing access to potentially life-saving care, but it would result in a sicker risk mix in the individual market and higher premiums for everyone.
SACRAMENTO, Calif. — A new analysis shows the dramatic consequences facing Californians if federal policies are changed from the current structure and there is no longer direct federal funding of cost-sharing reduction (CSR) reimbursements and the individual shared responsibility payment is not enforced when a consumer chooses not to purchase coverage.
The analysis found that Covered California health plan premiums could rise up to 49 percent if two key elements that have been in place for the past four years are changed: Cost-sharing reduction reimbursements are no longer directly funded as reimbursements to carriers, and the shared individual responsibility payment is not enforced.
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