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Friday, August 26, 2016

States Start to Approve Steep Increases in Health Premiums

http://www.wsj.com/articles/obama-administration-seeks-to-ease-concerns-over-health-insurance-spikes-1472061666

The Obama administration, seeking to reassure consumers who could be concerned by increases in more states in the coming weeks, released an analysis showing financial help from the government could soften the blow for people who qualified.
Some insurance regulators have begun announcing their approval of rate increases, including an average jump of 62% for the biggest plan in Tennessee and increases of around 43% in Mississippi and 23% in Kentucky for large carriers.
The Department of Health and Human Services said in an analysis issued on Wednesday that tax credits available to some lower- and middle-income Americans, which are pegged to the cost of insurance in a particular area, would blunt the impact and ensure that around three-quarters of the people who obtained insurance through HealthCare.gov would pay less than $75 a month for coverage.

Of course the States approve these increases they are in lock step with the Federal government.

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