As a companion piece to my health care trade-offs post more than two weeks ago, The Wall Street Journal has another article today discussing the premium increases that are starting to hit businesses now that the legislation is law, and open enrollment season is around the corner.
Many carriers also are seeking additional rate increases that they say they need to cover rising medical costs. As a result, some consumers could face total premium increases of more than 20%. …
In addition to pledging that the law would restrain increases in Americans’ insurance premiums, Democrats front-loaded the legislation with early provisions they hoped would boost public support. Those include letting children stay on their parents’ insurance policies until age 26, eliminating co-payments for preventive care and barring insurers from denying policies to children with pre-existing conditions, plus the elimination of the coverage caps.
Weeks before the election, insurance companies began telling state regulators it is those very provisions that are forcing them to increase their rates.
By front-loading popular stuff like covering 26-year old kids on a family policy, health insurance companies were provided cover by Congress and the White House to increase health care premiums for everyone. After all, to provide these extended benefits, who the heck did you think was going to pay for them?
Then of course, you have the general rise in health care costs due to the explosive growth of medical procedures like joint replacements and the use of drugs for the treatment of heart disease and diabetes. Add it all together and you’ve got a 20 percent increase in premiums.
How’s the change working out for you?
Think this will work out in the end for Democrats? The timing can not be worse for them since most of the health insurance policies are effective Jan. 1, with open enrollment season for employees starting about 30 days prior to election day.
Take a look at what your premiums are today, then let me know what you think when you get your companies benefit packages and pricing. Be very careful during your analysis, if your premiums go up a small amount, triple check to see what you’re loosing in benefits.
But don’t worry, you’re 25 year old kid will be covered.
Update: Michelle Malkin suggests Rep. Henry Waxman (D-Calif.) might stir up the election-season pot by dragging those health insurance company CEOs to Washington to explain the premium increases. As I note above the answer is pretty simple, Waxman and his crew implemented mandates that someone needs to pay for. They might just try this approach, because we know their final end-game is single payer health care… demonize the health insurance companies!