|Post 25 made on Wednesday October 2, 2013 at 02:41|
Costs are also increasing so severely in some states (like mine) because OCare forces insurance companies to price coverage based on a (socialist) community rating basis vs an individual risk basis. Therefore, insurers are prohibited from considering the risk factors that you--the individual--present based on age, gender and/or lifestyle choices. Thus, insurers must pad everyone's rates to hedge against (i. e. subsidize) their inability to assign risk based on reality.
Secondly, OCare mandates that all plans cover maternity and birth control costs (so you're forced to pay for coverage of both simtaneously!?!). Maternity coverage alone--which I and others may not want and/or need--accounts for a majority of my premium increase.
Thirdly, several major carriers were forced out of the marketplace in our state due to excessive compliance costs and risk factors, so there's now only one carrier in the exchange and minimal additional insurers outside of the exchange--Instant monopoly and zero price competition.
Never fear...It's all going according to plan.
"Whatever is rightly done, however humble, is noble." [Sir Henry Royce]