Proof That Obamacare 'Rate Shock' Is An Ugly Insurance Company Deception
http://www.forbes.com/sites/rickungar/2013/03/26/proof-that-obamacare-rate-shock-is-an-ugly-insurance-company-deception/
Over the past few months, the nations largest health insurance companies have been hard at work selling a narrative claiming that the Affordable Care Act is about to result in dramatically larger premium costs for a significant number of Americans. Indeed, the warnings have become so worrisome that the massive increases they are predicting have taken on a frightening descriptor all its ownrate shock.
At the heart of the health insurers retelling of the Chicken Little story is a regulation promulgated by the Department of Health and Human Services a few months back limiting what a health insurer can charge a 64 year old to three times what they charge a 21 year old. Currently, the average bump for older participants is typically five times that of the younger customersalthough there are examples where the increase can reach ten times what is paid by the young immortals buying coverage.
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As a result of the lower premium prices that will be paid by older participant, the expectationone created by the large insurance companiesis that the youngest participants will have to pay significantly more to make up the difference.
Now, The Urban Institutean organization so clearly bi-partisan that even the most suspicious partisan would encounter extreme difficulty making a case for biasis out with a study that states that the rate shock argument is unfounded, particularly when applied to the millions of Americans in the individual market.