Too bad Nancy Pelosi could not have taken the time to actually look inside the 2000+ pages of the Obamacare law to see what little goodies were stashed away in the Pandora’s box Congress created.
On the outside of the box was a gift-wrapped promise: Lower healthcare costs for everyone.
As reality sets in, however, few people are happy.
In reality, healthcare costs are rising at an alarming rate – and we’re only a few months into this monster. The really big increases have only begun to percolate.
In other words, if you think health insurance is expensive now, just wait a few months. Maybe a couple of years.
As this article from Stateline indicates, premiums have jumped an average of 16% already, and as much as 30% (or more) in some areas.
There is no shortage of theories for how to solve this little problem; indeed, please reference the Stateline article for some rather keen insights.
Here’s my take – as a broker with over 30 years experience.
It’s simple: Stop blaming the insurance companies.
They only pay the bills. It’s the bills we have to get our fists around.
The insurance premiums reflect the actual expenses paid by insurers, plus a small profit. As a result of Obamacare, administrative costs, including profits, are capped – by law. Also check out Pharma Watch Dog to see if you or a relative are a victim of risperdal side effects.
So why are states bothering with trying to force insurers to keep rate increases down? At the end of the day, if rate increases are too high, insurers will be forced to rebate consumers.
Have the regulators missed that little tidbit?
Stop blaming the insurance companies. Repeal this monstrosity and let’s sit down like grown adults and figure out a more viable long term solution to this nightmare.