Do you remember when Obama promised that with his health care law you would see premiums fall by 3,000%?

It was a lie.
A very big and weird lie.

Today Blue Shield of California announced it would call for a 20% rate hike on some individual policyholders. The company expects higher costs from an influx of new customers under the federal healthcare law in 2014.
The LA Times reported:

Health insurer Blue Shield of California wants to raise rates as much as 20% for some individual policyholders, prompting calls for the nonprofit to use some of its record-high reserve of $3.9 billion to hold down premiums.

In filings with state regulators, Blue Shield is seeking an average rate increase of 12% for more than 300,000 customers, effective in March, with a maximum increase of 20%.

Some consumer advocates and healthcare economists say Blue Shield shouldn’t be raising rates that high when it has stockpiled so much cash. The company’s surplus is nearly three times as much as the Blue Cross and Blue Shield Assn. requires its member insurers to hold to cover future claims.

“Blue Shield is sitting on a huge surplus that is beyond what is required or necessary,” said Laurie Sobel, a senior attorney for Consumers Union in San Francisco. “It should be used to hold down rate increases when it hits these extraordinary levels.”

California officials can take into account an insurer’s amount of surplus, among many other factors, when determining whether they think a rate increase is reasonable. Both the California insurance commissioner and the state Department of Managed Health Care are reviewing the company’s proposed premiums, but neither agency has the authority to reject changes in rates…

The company also expects higher costs from an influx of new customers under the federal healthcare law in 2014.

UPDATE: Also today — Aetna CEO Sees Obama Health Law Doubling Some Premiums

 

 

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  1. Gee…If only somebody warned us this would happen maybe we could have read the bill first.

  2. Good.

  3. From Obama’s very own website.

    http://change.gov/agenda/health_care_agenda/

    “The Obama-Biden Plan

    On health care reform, the American people are too often offered two extremes –

    Under the plan, if you like your current health insurance, nothing changes, except your costs will go down by as much as $2,500 per year. If you don’t have health insurance, you will have a choice of new, affordable health insurance options.”

  4. More government magic accounting: SocialSecurity checks will increase in 2013,(yay!) as will the cost we pay for Medicare (boo!).
    So…… end result………we will net less S.S. money and pay more for Medicare.
    Thanks, Obama.
    (spit)

  5. This was marxists plan from beginning..drive insurance cost up ,force everyone on Marxist’s run heathcare so government has complete control of the masses.

  6. Got my California Blue Cross – Anthem notice a couple weeks ago – rate going up 24% starting in February. Why no max increase of 20% for me?

  7. Wait, wait — my insurance already went up 30% before this….!

  8. Obama Care was forced upon us by those who pay little, or nothing, for their H.C. insurance coverage (because we buy it for them).

    Obama was largely elected by those who pay little, or nothing, for their section 8 housing, food, energy, transportation, and their H.C. insurance coverage (that we buy for them).

    The bottom line is that those of us who pay for our own H.C. insurance are now being forced to pay higher coverage rates so as to make up for those who pay little, or nothing, the Obama Care they’ll soon be receiving.

    Meanwhile, those that make a lifestyle of living off of public assistance benefits will continue to do little other than breed more public assistance reliant Democrat off-spring.

    About all these people do for a living is shop, eat, breed (out of wedlock), sleep, and vote (early and often) for Democrats.

  9. @Ron “Got my California Blue Cross – Anthem notice”

    The article linked above is about California Blue Shield – not the same company as Anthem.

  10. #2

    No. Not good. It’s by design to put the insurance companies out of business by forcing people into the loving arms of the federal government.

    Doctors will be forced to only provide and perform what the gov. can afford to spend on you. Our Constitution was buried on March 21, 2010. Then it’s grave site was pissed on by John Roberts soon thereafter.

    #8

    Nail on head.

  11. #13

    They voted for it, let them experience it.
    You can’t stop the dam that’s bursting.
    Faster, please.

  12. So the “millionaires and billionaires” making $200K aren’t the only ones who will be forced to “pay a little bit more”! Right?

  13. One lie among many.

  14. That surplus they are complaining about will disappear very quickly once Obamacare claims start coming in from high-risk, high maintenance policyholders.

  15. My premiums have already went up over the last 2 years. First rise was 62% and then 48%. The ignorant that voted for Obama are going to get what they deserve, except the rest of us who do work and pay taxes will suffer also.

  16. OT AND NEW ORDERS FROM OUR COMMUNIST LEADER

    New Army Manual Orders Soldiers Not To Criticize Taliban

    Judicial Watch: Here is a strong indicator that the Obama Administration’s crusade to appease Islam has gone too far; a new U.S. military handbook for troops deployed to the Middle East orders soldiers not to make derogatory comments about the Taliban or criticize pedophilia, among other outrageous things.

    It gets better; the new manual, which is around 75 pages, suggests that Western ignorance of Afghan culture— not Taliban infiltration—is responsible for the increase in deadly attacks by Afghan soldiers against the coalition forces.

    The soon-to-be-released Army handbook is still being drafted, but a mainstream newspaper got a sneak preview and published an article that should infuriate the American taxpayers funding the never-ending war on terror. The manual is being created because someone with authority bought the theory that cultural insensitivity is driving insider attacks on U.S. troops in Afghanistan.

    More than three dozen insider attacks have killed 63 members of the U.S.-led coalition this year, according to the article, and some blame “American cultural ignorance.” The bottom line is that troops may experience social-cultural shock and/or discomfort when interacting with Afghan security forces, the new military handbook says. “Better situational awareness/understanding of Afghan culture will help better prepare [troops] to more effectively partner and to avoid cultural conflict that can lead toward green-on-blue violence.”[,,,,,,,,,,,,,,,,,,]

    http://patdollard.com/2012/12/new-army-manual-orders-soldiers-not-to-criticize-taliban/

  17. OT

    Brace yourselves America’s next revolution maybe just around the corner.

    http://redalertpolitics.com/2012/12/12/brace-yourselves-americas-next-revolution-may-be-just-around-the-corner/



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