The evidence of insurance premiums spiking under the Affordable Care Act continues to mount, with new research from Morgan Stanley showing the highest increases in the individual and group markets in years.
Morgan Stanley’s (MS) health-care analysts conducted a proprietary survey of 148 brokers and found the average increases in the small group market are above 11%, and 12% in the individual market. What’s more, certain states are experiencing premiums five to 10 times higher than last year’s prices. In Delaware, premiums are up by 100% on average while New Hampshire prices were 94% higher.
It’s not yet clear how high premiums will increase in 2015, but Department of Health and Human Services Secretary Kathleen Sebelius admitted in Congressional testimony last month that they would increase, and some analysts are projecting double-digit hikes next year.