Obamacare premiums to rise a modest 4.2% in 2015

[TomCADem]

Source: LA Times

Defying an industry trend of double-digit rate hikes, California officials said the more than 1.2 million consumers in the state-run Obamacare insurance exchange can expect modest price increases of 4.2% on average next year.

On Thursday, Covered California announced the results of its negotiations with Anthem Blue Cross, Kaiser Permanente and other major insurers, an important yardstick for President Obama's Affordable Care Act.

"We have changed the trend in healthcare costs," said Peter Lee, Covered California's executive director. "This is good news for Californians."

Policyholders in some major urban areas will see increases slightly above the statewide average. San Francisco posted the highest average increase of 6.6%. Orange County wasn't far behind at 6.3%. The Los Angeles area was closer to 4%.

Read more: http://www.latimes.com/business/la-fi-obamacare-2015-rates-20140801-story.html#page=1

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Of course, this is not going to have any impact on the efforts of Republicans and right wing wing media to kill the ACA.

[Trillo]

1. Is this level above or below the CPI's stated level of inflation?

I ask because folks wages, benefits, and pensions are often linked to the CPI.

[Demeter]

2. Modest? Twice the official "Inflation" rate is MODEST!

Pardon me while I lose my lunch and my mind.

[groundloop]

5. Well, it's modest compared to the rest of the insurance industry

I get what you're saying though, I've had one raise (a whopping 2%) in the past 3 years while the cost of everything is going up.

[ballyhoo]

7. Did you read that Obama told the

Republicans to more or less give him a break; he had only two years left. By the time he leaves office everyone here will know all about ACA. No difference between the 14 cents a day ads we see for everything from periodicals to dental clinics that offer attractive come-on rates. They lock you in if nothing else but by inertia and then all of a sudden in one or two years it's "Jesus Christ! look what these people are charging me now!"

[BumRushDaShow]

8. Before ACA, CA (and other) insurers routinely raised rates in the double-digits

http://www.californiahealthline.org/articles/2013/1/7/health-insurers-gaining-approval-for-significant-premium-increases

Although CA is not one of the states where they can outright deny such a request, their past egregious actions shamed them to lower the rates... plus there is that issue of how much goes to actual "health costs" versus "administrative costs" which I expect in many of these cases, would require them to refund that difference (and that would be something that they might not want to continually have to "publicly" do).

[freebrew]

3. Oh great...

Social Security went up 1.5%.

Some progress! Lose the insurance industry and we'll all be better off.

[onehandle]

4. Socialism!

Seriously. Single Payer.

Fuck the morans in the House and BRING IT ON!

[candelista]

12. It would have been so easy and natural to expand Medicare.

It's been a successful "pilot program" for fifty years.

[ballyhoo]

6. You ain't seen nothing-- Do people really

think these deals made with the HMO's and other network providers was going to result in lower costs? No, that's just in the beginning to get everyone in the program without the ability to go backwards. Watch 2016 and see if that isn't right.

[Gothmog]

9. I hope that Texas can keep the increase low

The lack of medicaid expansion may hurt

[Dopers_Greed]

10. This is still way less than would have happened without Obamacare

Though the RW liars are going to successfully pin ANY price increase on healthcare legislation.

[candelista]

11. And you know this...how?

Coulda, shoulda, woulda.

[JCMach1]

13. How about price controls then...

this is still way too much...

A 5 year freeze on premium increases sounds about right.

[Sunlei]

14. by the ACA 'rules' we can change to another insurance because of the Corps price change.

We can also change in November when it is open enrollment again.

6% one year =60% in 10 years. That just sucks of Blue Cross!! when consumer insurance costs should go DOWN not up.