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.
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7 comments:
How many rate hikes does there have to be before we see that promised $2500 a year rate cut?
He said it would save us money. Now they are just robbing us.
Ahem! Maybe he LIED to you?
Live with it.
Vote Hillary and see how high they will get :(
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.
8:41 Now that was funny!
how does that song go, huntin, fishin, drinkin, lovin everyday
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