In a follow-up to a story we covered last December, the CEO of Aetna,Mark Bertolini, warned of 100% health insurance premium increases for next year. Doug Ross (no relation) has more…
I’m guessing the administration’s infamous “Enemies List” just got bigger by one.
Aetna CEO Warns of Approaching Health Insurance ‘Premium Rate Shock’ in 2014 for Consumers and Others Under Accountable Care Act
Steep increases in insurance costs may leave patients with less money to cover deductibles and copayments for clinical laboratory tests
Next year, consumers and small businesses can expect what one health insurance CEO says will be, “Premium rate shock for 2014.” As this happens, clinical laboratories and pathology groups are likely to find it even more difficult to collect co-pays, deductibles, and out-of-pocket fees from patients who had medical laboratory tests performed.
The premium rate shock remark was made by no less than Mark Bertolini, the CEO of Aetna, Inc. (NYSE: AET). In his speech at an investor conference, he predicted premiums would rise by 20% to 50% next year before the government subsidies are applied. In some markets, rates could double, he added.
Aetna is not alone in seeking steep hikes in health insurance premiums. Blue Shield of California is seeking a rate increase of 12% to 20% for more than 300,000 individuals, The Los Angeles Times reported. These new rates would go into effect in March, the company said.
And, ironically, the “official” name for ObamaCare is the Affordable Care Act ? Of course, like all liberal efforts, it achieves the exact opposite of it’s stated intent.
Doug has far more coverage, so get over there and check it all out. He also sums it up perfectly.
As conservatives predicted, Obama, Pelosi and Reid all lied about Obamacare as they rammed it through Congress, sight unseen. Rates are going to skyrocket. Employers will drop coverage. Physicians will stop accepting Medicare patients. Insurance carriers will go bankrupt. Care, when you can find it, will be rationed. And the system is going to melt down, with the poor and seniors suffering most.
The people were warned, and they chose not to listen. Now, everyone will suffer for the Obama voters. If you voted for Obama, you voted for this. We tried to warn you. Doug Ross, myself, hundreds-if not thousands of others tried to raise the warning, but too many decided to be “low information.”
Elections have consequences, and the Obama voters are going to be suffering more and more for their support of Hope and Change.
When the stimulus failed to create jobs the goal posts were moved and they started talking about “saved” jobs. They also told us the pain would have been much worse if it wasn’t for the stimulus and I expect the same thing here; when the premiums go up Obama will say thankfully we passed Obamacare or it would have been much worse, and the media will play along.
OMG! So many of us without employer-based insurance will not be able to afford coverage!