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Friday, September 09, 2016

Marylanders face hefty rate increases for Obamacare

The cost of health insurance plans offered under the Affordable Care Act will jump 20 percent or more next year under rates to be announced Friday by Maryland regulators.

The CEO of Maryland's largest insurer defended the hefty rate increases and said the federal law that expanded health insurance to most Americans needs to be changed if it is to remain sustainable.

"We regret that such rate increases are needed," said Chet Burrell of CareFirst BlueCross BlueShield. "It is the last thing on earth we want. But no company can sustain the kinds of losses we have seen."

The company projects that its total losses since the law went into effect will amount to $620 million by the end of the year, Burrell said. People enrolling in plans are sicker and costlier than the insurer predicted, he said.



Anonymous said...

How many rate hikes does there have to be before we see that promised $2500 a year rate cut?

Anonymous said...

He said it would save us money. Now they are just robbing us.

Anonymous said...

Ahem! Maybe he LIED to you?

Live with it.

Anonymous said...

Vote Hillary and see how high they will get :(

Anonymous said...

Who has obamacare ins? Most rednecks marry a woman with a job and benefits. After many years of drinking, hunting and fishing rather than being a good husband, she divorces him and then he has no ins. I understand now why there are so many people complaining on here.

Anonymous said...

8:41 Now that was funny!

Anonymous said...

how does that song go, huntin, fishin, drinkin, lovin everyday