Obamacare hikes on the way

Obamacare costs are about to rise.

Health insurers across the United States say would-be patients and clients should expect rate increases in the next year – and that some of those price hikes could be huge.

“The trend is a little bit higher this year than last year,” said Gary Claxton, the director of the healthcare marketplace system at Kaiser Family Foundation, the Hill reported.

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Cheryl Fish-Parcham, the director of the private insurance program at Families USA puts it in blunter tones: Some of those rate increases could be “enormous,” she said.

The lowest-tiered Obamacare plans are already on the rise, and experts say by 2016, prices across the board for all health packages are likely to hike.

Regulators will be reviewing the rate hikes, though.

“These specific rates will be subject to vigorous rate review and revision,” said Andy Slavitt, the Centers for Medicare and Medicaid Services’ acting administrator, the Hill reported.

But among some of the increases: Tennessee’s largest insurer seeks a 36 percent hike; New Mexico’s biggest companies want 50 percent hikes; and Maryland’s largest provider is calling for a 30 percent rise.

States have the authority to challenge price hikes deemed “unreasonable,” the Hill reported.

 

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