- Sep 19, 2011
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Health insurance premiums may as much as double for some small businesses and individual buyers in the U.S. when the Affordable Care Acts major provisions start in 2014, Aetna Inc. (AET)s chief executive officer said.
While subsidies in the law will shield some people, other consumers who make too much for assistance are in for premium rate shock, Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said.
Weve shared it all with the people in Washington and I think its a big concern, the CEO said. Were going to see some markets go up as much as as 100 percent.
Bertolinis prediction is at odds with Congressional Budget Office estimates that the law will have little effect on small and large-employer plans and the Obama administrations projections that middle-class families will actually save money. The 2010 law is expected to extend health care to about 30 million people who otherwise couldnt get insurance, paid for by new taxes and fees on companies and wealthier individuals.
Aetna CEO Sees Obama Health Law Doubling Some Premiums - Bloomberg
AND guess what folks!!!
People will drop their insurance.
Companies will continue to raise rates as their base decreases!
Finally insurance companies will realize CAN'T MAKE A profit and state insurance regulators REQUIRE ins. companies MAKE a profit.
Insurance companies go out of business!
AND $100 billion in payroll/federal/state/local taxes will be gone! 400,000 people unemployed!
And we told you so!!
While subsidies in the law will shield some people, other consumers who make too much for assistance are in for premium rate shock, Mark Bertolini, who runs the third-biggest U.S. health-insurance company, told analysts yesterday at a conference in New York. The prospect has spurred discussion of having Congress delay or phase in parts of the law, he said.
Weve shared it all with the people in Washington and I think its a big concern, the CEO said. Were going to see some markets go up as much as as 100 percent.
Bertolinis prediction is at odds with Congressional Budget Office estimates that the law will have little effect on small and large-employer plans and the Obama administrations projections that middle-class families will actually save money. The 2010 law is expected to extend health care to about 30 million people who otherwise couldnt get insurance, paid for by new taxes and fees on companies and wealthier individuals.
Aetna CEO Sees Obama Health Law Doubling Some Premiums - Bloomberg
AND guess what folks!!!
People will drop their insurance.
Companies will continue to raise rates as their base decreases!
Finally insurance companies will realize CAN'T MAKE A profit and state insurance regulators REQUIRE ins. companies MAKE a profit.
Insurance companies go out of business!
AND $100 billion in payroll/federal/state/local taxes will be gone! 400,000 people unemployed!
And we told you so!!
