In accordance with YahooFinance and Kaiser Health News the drastic increases in health insurance could raise the rate for healthy young men under thirty in upwards of 150 percent. This all because Maryland’s number one healthcare provider has suggested increasing their rates, “ to meet ObamaCare mandates.” CareFirst’s Blue Cross, Blue Shield of Maryland say they are already preparing for the premium hikes that will, “deplete reserves and hurt its financial soundness.” With the threat of raising individual insurance rates in upwards of 150 percent for young enrollees, Maryland insurers have already declared their intentions to raise rates, which is being reinforced by their actuaries. According to Kaiser Health News, CareFirst is, "expecting to lose money."
One of the main reasons for the "shock" in
insurance rates for younger men is because of Health Care Reform's guarantee
issue provision. This allows the sickliest among us to get health coverage
regardless of their current health situation. Therefore, there is no pricing
advantage for the young healthy male to get coverage if it is all guarantee
issue. The insurers must charge the healthy young male more in order to pay for
the sickly overweight McDonald's loving individuals among us.
These rate increases have not yet been approved and there is
still a chance that they can be worked down. Regardless the threat of such a
dramatic increase will put Marylanders, especially ones under 30, in shock.
Moreover, encouraging the overweight lazy ones to continue to go about their
day, riding the cheeseburger wave of cholesterol and fat. According to Joe
Antos, health economist at the American Enterprise Institute, "those most
likely to sign up will need coverage the most."
In accordance with YahooFinance and Kaiser Health News the drastic increases in health insurance could raise the rate for healthy young men under thirty in upwards of 150 percent. This all because Maryland’s number one healthcare provider has suggested increasing their rates, “ to meet ObamaCare mandates.” CareFirst’s Blue Cross, Blue Shield of Maryland say they are already preparing for the premium hikes that will, “deplete reserves and hurt its financial soundness.” With the threat of raising individual insurance rates in upwards of 150 percent for young enrollees, Maryland insurers have already declared their intentions to raise rates, which is being reinforced by their actuaries. According to Kaiser Health News, CareFirst is, "expecting to lose money."
One of the main reasons for the "shock" in
insurance rates for younger men is because of Health Care Reform's guarantee
issue provision. This allows the sickliest among us to get health coverage
regardless of their current health situation. Therefore, there is no pricing
advantage for the young healthy male to get coverage if it is all guarantee
issue. The insurers must charge the healthy young male more in order to pay for
the sickly overweight McDonald's loving individuals among us.
These rate increases have not yet been approved and there is
still a chance that they can be worked down. Regardless the threat of such a
dramatic increase will put Marylanders, especially ones under 30, in shock.
Moreover, encouraging the overweight lazy ones to continue to go about their
day, riding the cheeseburger wave of cholesterol and fat. According to Joe
Antos, health economist at the American Enterprise Institute, "those most
likely to sign up will need coverage the most."
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