Sticker Shock: Iowa's only ObamaCare insurer seeks 57 percent rate increase

Discussion in 'USMB Breaking News' started by shockedcanadian, Aug 17, 2017.

  1. shockedcanadian
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    shockedcanadian Gold Member

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    Wow. Will this light a fire under the Obamacare sponsors to denounce this Act as a failed system that has been heavily taxpayer funded and a slush fund for too many businesses?

    Sticker Shock: Iowa's only ObamaCare insurer seeks 57 percent rate increase

    In one of the biggest 2018 premium hikes sought to date, Iowa’s only ObamaCare insurer is looking for a 57 percent rate increase – that’s 13 percent more than they asked for just two months earlier.

    It’s a troubling trend that’s been spreading across the country as jittery insurers stay stuck in a holding pattern waiting on Congress and the Trump administration to decide the fate of the Affordable Care Act.

    President Trump has at different times encouraged lawmakers to let ObamaCare implode, pushed his party to repeal and replace the bill, admonished his own party for failing to do so and supported a repeal-only bill.

    One of the president's biggest complaints about the ACA has been the trend of rising premiums in the insurance exchanges. But insurers have only accelerated that push in the face of Trump threats to cut off billions in federal funding meant to keep co-pays and deductibles down, coupled with congressional deadlock and market uncertainty over the repeal of ObamaCare.

    In June, Iowa's Medica sent a letter to its customers explaining it was seeking a 43.5 percent rate hike, affecting about 14,000 Iowans. The company spelled out the steep premium increases but offered customers assurances that federal subsidies would shield most them from forking over thousands more a year.
     
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  2. oldsoul
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    oldsoul Gold Member

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    Sorry Iowa, guess no one cares. :itsok: The oppression you must feel in Iowa...:whip:
     
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  3. RodISHI
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    RodISHI Gold Member

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    I think Iowa power brokers only worry about keeping their corrupt peeps safe from being exposed (insurance companies [after all it is supposed to be the insurance capital of the world just ask Branstad about his 1992 speech on the subject], bankers, lawyers, judges, union perps, etc.) plus their farming, ethanol subsidies and the associated big agri chem products.
     
  4. HenryBHough
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    HenryBHough Gold Member Supporting Member

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    When people are coerced into buying your product you can charge what you damn well please and the peasants either buy or be taxed. Not enough? Then just criminalize them - lock 'em up and then take on their care and feeding at the expense off the few productive people who will be stupid enough to pay up.
     
  5. Vandalshandle
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    Vandalshandle Gold Member

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    Well, perhaps we should resurrect health insurance underwriting, and simply deny health insurance at any price, for those that can't provide evidence of good health. That worked so well, before ACA.
     
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