The Plain and Ugly Truth about Rate Increases
In January 2010, just a few months before healthcare reform law passed, I got a study by a national actuarial firm that measured the impact of state regulations on health insurance plan pricing. This study showed WIDE variation in the definition of an individual health insurance policy, and how plans were priced, from state to state.
The BAD NEWS was right there in the headline: “Louisiana loses 19,600 jobs over a 12 month period through May 2016.” (The Advocate, June 17, 2016) Not counted in the headlines are the thousands of hourly employees whose hours are being cut to less than full time, thanks to oil sector slowdowns. It is vitally important during these times of crisis that those most affected do not lose track of their most valuable asset – their health.
The candidates on the campaign trail have their opinions about how to fix the Affordable Care Act (ACA), how to make health insurance marketplaces work better and how to get everybody insured. Every policy wonk and think tank in America has weighed in on the problem. Of course, their solutions are all in alignment with their institutional biases on how healthcare OUGHT to work in America.
I can’t help but notice some folks talking on our social media about eye-popping price increases. I’m hearing talk of premiums doubling, or even tripling, since last year. What’s the story with this?
The Difference Among PPO, HMO and High-Value Networks