Marking another ObamaCare failure in Illinois, premiums will skyrocket next year for people across the state purchasing a health plan on the state’s ObamaCare exchange.
The Associated Press reported that insurers on the exchange are requesting an increase in rates of up to 45 percent:
Blue Cross Blue Shield of Illinois, the most popular insurer on the state’s Obamacare exchange, is proposing increases ranging from 23 percent to 45 percent in premiums for its individual health-care plans, according to proposed 2017 premiums that were made public Monday. The insurer blamed the sought-after hikes mainly on changes in the costs of medical services.
Also noted by the AP is Blue Cross Blue Shield isn’t the only insurer in the state requesting a double-digit increase, as individuals selecting a Coventry Health Care plan will also be forced to pay more:
Coventry Health Care of Illinois proposed rate increases as high as 21 percent.
The unwelcome news comes less than a month after the state’s ObamaCare co-op, Land of Lincoln Health, announced it would shut down after posting a loss of over $100 million over two years:
An Illinois health insurance co-op with 49,000 policyholders in the state has become the latest casualty among a dwindling group of nonprofit alternative insurers set up under the Affordable Care Act. Illinois regulators took steps Tuesday to shut down Land of Lincoln Health, a 3-year-old startup that lost $90 million in 2015 and more than $17 million through May 31.
Yesterday, The Hill reported on the many ObamaCare co-op failures and the disruptions it causes for consumers who may lose access to their doctors:
Having to switch plans in the middle of the year is a problem because it often means that enrollees need to start over on paying their deductibles, in effect increasing the amount they pay out of pocket for care.
ObamaCare has been an unmitigated disaster for the state. Insurers have dropped out of the marketplace and the one’s that remain are forced to request higher premiums to stay afloat. The recent failures in Illinois make it increasingly clear that ObamaCare will never deliver lower costs, increased access to care and a stable health market that was initially promised.