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Poll: Health insurance premiums skyrocketing under Obamacare

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ObamaCare (1)Health insurance premiums under the Democratic health care law are skyrocketing, according to a survey of insurance brokers conducted by health care analysts with Morgan Stanley.

Scott Gottlieb, at Forbes.com, writes:

The average increases are in excess of 11% in the small group market and 12% in the individual market. Some state show increases 10 to 50 times that amount. The analysts conclude that the “increases are largely due to changes under the ACA.”

The analysts conducting the survey attribute the rate increases largely to a combination of four factors set in motion by Obamacare:  Commercial underwriting restrictions, the age bands that don’t allow insurers to vary premiums between young and old beneficiaries based on the actual costs of providing the coverage, the new excise taxes being levied on insurance plans, and new benefit designs.

The poll results come on the heels of President Obama’s announcement that more than 7 million Americans have selected health insurance plans at HealthCare.gov. Democrats viewed the milestone as an indication that Republicans are misguided if they think they can be victorious in the coming midterm elections by running against Obamacare. But increasing insurance premiums could blunt voter enthusiasm about the controversial health care law.

About Steve Robinson

Steve Robinson is the former editor of The Maine Wire and currently producer for the Howie Carr Show. Follow him on Twitter @Stevie_Rob or send him an email at Steve@HowieCarrShow.com.

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