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Thursday April 17th 2014

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What’s The Matter With California’s Health Market?

healthreformflagGovernment health officials are outraged as health insurers across the country have begun warning of major premium increases as Obamacare kicks into high gear this year and next. Consumers in multiple states will see rate increases of 20 percent or more, and some could see their premiums double. California Insurance Commissioner Dave Jones attacked Anthem Blue Cross for announcing rate hikes averaging 10.6 percent for about 52,000 of the 250,000 Californians it covers. Jones blames Obamacare — not for regulations it contains but for rules it doesn’t. The federal law gives state insurance regulators the power to review premium hikes but not to reject them. Jones calls that a “glaring loophope.”  The California healthcare exchange planners want people to equate exchanges with affordability. Indeed, the tentative tagline for California’s exchange — called “Covered California” — is “your destination for affordable health care.” But the reality is just the opposite according to a recent report at www.forbes.com.