ObamaCare rates in MN skyrocket 60% to stave off “collapse”

The State of Minnesota is having a big problem with their Obama.Care insurance policies.

So much trouble in fact, a state commission has approved a massive rate hike in order to help the insurance companies from going broke.

If you like your policy you can keep your policy (as long you can pay for a new one).

ObamaCare rates in MN skyrocket 60% to stave off “collapse”

Seems that Washington DC isn’t the only place that’s learned the art of the Friday afternoon news dump. Minnesota Commerce Commissioner Mike Rothman announced yesterday afternoon that the state had approved health insurance premium increases that will average 60% in MNsure, the state’s ObamaCare exchange. The statement blamed big losses by insurers in the state, and bad predictions about utilization rates, for the decision:

Rothman said that Minnesota’s rate increases are part of a national trend in the individual health insurance market, with nearly all states looking at double-digit rate increases as insurers seek to align premium revenues with expected claims costs. States’ rate increases are also exacerbated by cuts to critical federal programs that were intended to stabilize the market and rates for consumers.

However, Minnesota’s individual market also faces unique challenges because of a disproportionate concentration of individuals with serious medical conditions whose high claims costs must be absorbed by a relatively small risk pool, pushing up rates for everyone in the individual market.

Citing ongoing financial losses, Blue Cross and Blue Shield of Minnesota announced in late June that it is leaving the individual market, except for its Blue Plus HMO affiliate. The company’s decision affects approximately 103,000 Minnesotans, or about 40 percent of the state’s total individual market.

Obama wanted to delay release of the rates nationwide until November 15th for some strange reason. Congress didn't go along with it.

here in Illinois the average increase is 50.2%. Insane!

originally posted by: carewemust
Obama wanted to delay release of the rates until November 15th for some strange reason. Congress didn't go along with it.

Puzzling.

Can't imagine why he would want to do such a thing.

The President told us that the average savings per family would be $2,500.00
Yay!

originally posted by: carewemust
Obama wanted to delay release of the rates nationwide until November 15th for some strange reason. Congress didn't go along with it.

here in Illinois the average increase is 50.2%. Insane!

No brainer if you ask me. Insurance isn't like real magic. The bill has to come due sooner or later. If everyone is taking out and the unemployed aren't paying in ... you get a financial disaster.

It's kind'a like rich people using tax loopholes to get out of paying in even a dime.

originally posted by: butcherguy
The President told us that the average savings per family would be $2,500.00
Yay!

I guess that was 'the average' over the face of the entire country. Your bill goes up and the people who don't work save $2,500.00.

Who said you would fall under the definition of average?

Ahhhhahahahahaha

a reply to: Snarl

I distinctly remember being told (back when they were trying to pass Obamacare) that the people that were not paying anything for their free health care would have to pay something for it under Obamacare.

originally posted by: butcherguy
The President told us that the average savings per family would be $2,500.00
Yay!

He intended to mean $2500 was going to be the "minimum essential increase".

originally posted by: xuenchen

originally posted by: carewemust
Obama wanted to delay release of the rates until November 15th for some strange reason. Congress didn't go along with it.

Puzzling.

Can't imagine why he would want to do such a thing.

Probably the same reason Hillary didn't want anyone to know that Benghazi was a terrorist attack.

Democrats play for keeps.

originally posted by: xuenchen

originally posted by: butcherguy
The President told us that the average savings per family would be $2,500.00
Yay!

He intended to mean $2500 was going to be the "minimum essential increase".

I guess he took truth telling lessons from Hillary.

How do ya like it now.

Obama: Under Obamacare, health care will cost less than your cell phone bill

President Barack Obama and his wife Michelle attended the Congressional Black Caucus Foundation Phoenix Awards Dinner at the Washington Convention Center Saturday night. While extolling the benefits of Obamacare less than 10 days before the opening of the new health insurance marketplaces, the president said that "you can offer your family the security of health care ... for less than your cell phone bill."

The president was referring to a tweeted claim made earlier this week by Health and Human Services (HHS) Secretary Kathleen Sebelius that said, "Nearly 6 in 10 uninsured Americans will #GetCovered for less than $100/month starting Jan 1." As noted at the time, Sebelius's claim was based on a press release from HHS that said that six in ten uninsured "may be able to get coverage" for less than $100 per month, a claim that looked even more dubious under closer examination.

a reply to: xuenchen

Uh, that would be another one of those 'Hillary Truths'.

* SNIP *

That meme seems directly in line with the racism I've come to expect from Obama's opponents.

a reply to: xuenchen

Obama: Under Obamacare, health care will cost less than your cell phone bill

Great analogy considering how much the telephone/cell phones has been subsidized by our tax dollars!

Gotta love 'affordable' corporate products for the masses!

Some would call that crony capitalism.

Others would call it socialism.

I call it if you like your money you can keep your money.

So Minnesota will join the other 17 states where Obamacare has
already collapsed! Some states are giving taxpayer loans to
keep the Co-ops afloat, to the tune of 110 million or more
each state!

Pelosi:
"We have to pass the bill to find out what is in it"