State insurance regulators start approving rate hikes to cover Trump’s slashed subsidies

trump health insurance regulators premiums rates

Officials in Maryland have already given their approval to the last minute increases, but others are following. Insurance regulators in many states are starting to look into last minute health plan rate increases to compensate for the elimination of Affordable Care Act subsidies. Michigan officials have warned that they are already looking into the increases that they are likely to approve. At the same time, Maryland insurance regulators have already given their approval to the rate hikes. These increases are a direct response to President Trump’s executive order that eliminated…

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Health insurance premiums and deficit climb with Trump’s mountain of threats

donald trump health insurance executive order

The Congressional Budget Office released a statement outlining the financial impact if the president goes ahead with his plans. Health insurance premiums for the most popular plans are going to spike by 20 percent in 2018 if President Trump moves forward with his current threats to the Affordable Care Act. This data was released by the Congressional Budget Office. It also said Trump’s plans would harm the federal budget deficits by increasing them by $194 billion. The federal deficit would suffer by nearly 200 billion over the next ten years…

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Colorado insurance commissioner points finger at Trump administration for massive rate hikes

denver colorado health insurance

Marguerite Salazar says that uncertainty generated by the president led to the 27 percent rate hike requests. Colorado Insurance Commissioner Marguerite Salazar’s department received requests for 27 percent rate hikes in the individual market and 7.3 percent for small group. The commissioner is not happy and blames the Trump administration for the uncertainty they’ve created within the market. Salazar said the games played by the Trump administration have caused the health insurance market to become unstable. The result of these actions, said the Colorado insurance commissioner, was huge 2018 rate…

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Health insurance deadlines extended in many states to support insurers

health insurance exchange deadlines for rate filings

Providers are being given more time to make their filings due to uncertainty with legislation. The Affordable Care Act continues to stand as it was despite Trumps efforts to repeal it, leading states to extend health insurance deadlines. Without any certainty regarding the White House’s strategy to change legislation, states are giving insurance companies more time to submit their 2018 rates. Among those states include New Hampshire, Colorado and Kentucky, which have moved deadlines to June. The health insurance deadlines in those states had previously been in April or May.…

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Insurance industry slams Paul Ryan for lack of comprehension

Paul Ryan insurance industry

The internet and social media lit up when the Speaker of the House of Representatives made a strange declaration about health insurance. The insurance industry was shocked by a recent statement from Speaker of the House of Representatives, Paul Ryan. He recently expressed his displeasure with the fact that premiums from healthy individuals are being used to subsidize the premiums of sick people. Social media, particularly Twitter, immediately blew up to inform Ryan that this is how insurance works. The insurance industry – including professionals and consumers alike – took…

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Americans are shopping outside health insurance exchanges for coverage

Group Health Insurance Exchanges

Millions of people are buying health plans off the marketplaces to avoid massive rate hikes. As premiums are headed skyward at many health insurance exchanges, people are looking for alternatives. Many Americans have decided to stop shopping in those official markets. Instead, they are purchasing health plans through insurance companies off the exchanges. The purpose is to try to avoid being faced with the rate hikes that are often in the double digits. The Obama administration is working to reverse this trend. The goal is to make health insurance exchanges…

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Will higher health insurance rates keep insurers in the exchanges?

health insurance rates

Regulators across the country are allowing insurance companies to make health plans more expensive. State regulators across the nation have been steadily giving the nod to increased health insurance rates. In fact, many have made it possible for those insurers to raise premiums more than the companies had requested. This may appear to be in opposition to the goal of keeping rates as low as possible for consumers. However, a data analysis conducted by USA TODAY suggested a different purpose for these decisions. The national newspaper indicated that the regulators…

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Health insurance rate increases may be on their way to Illinois

Health Insurance rate increases

That said, there is no way for consumers to know for sure until the information is released on August 1. Residents of Illinois are going to have to wait a while before they will know if health insurance rate increases are coming. The information about the proposed premiums changes under the Affordable Care Act for next year isn’t available until August 1. It is at that time that the health exchange plan premiums information will be made public within the state. To many in Illinois, having to wait until August…

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Alabama health insurance rates under scrutiny for first time since ACA

Alibama Health Insurance Costs

The state has not undergone this process since it first implemented the Affordable Care Act. Alabama health insurance companies will face a new wave of scrutiny from state regulators when they seek to increase the rates they charge in 2017. This is the first time they will have undergone scrutiny for rate changes since the insurance exchange launched there in 2013. Obamacare’s regulations were meant to encourage states to implement insurance rate reviewing systems. The purpose of the reviews is to provide states with a means by which to consider…

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Michigan health insurance premiums are getting cheaper

michigan health insurance

While rates have been on the rise across the country, residents of this state are staying affordable. According to the results of a recent study, Michigan health insurance rates are actually going to experience a small decrease in 2017, despite the fact that many other states across the country are watching their premiums grow increasingly expensive. This year has been relatively volatile in the ACA’s insurance exchanges, but that is not the case in Michigan. The Michigan health insurance premiums are not only remaining below the national average, but they…

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