ACA Health Insurance Rates Set to Skyrocket
22nd May 2015
In 2016, insurance premiums could go through the roof as big insurers across the country apply for large rate increases for their ACA plans. For example, Blue Cross Blue Shield of Tennessee, the state’s biggest insurer, wants to raise rates 36.3 percent on average. New Mexico (at a truly eye-popping 51.6 percent), Maryland, and Oregon are seeing similar big numbers. Even in states where insurers are requesting more moderate increases, the percentages are still high enough to give one pause (Michigan’s Blue Care Network, for example, wants a 10 percent bump). Only in Maine has a state’s main insurer signaled its intent to keep rates flat for 2016.
That’s why they called it the Affordable Care Act, because laws are always titled the opposite of the effect that they have.