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Health insurers are privately warning brokers that premiums for many individuals and small businesses could increase sharply next year because of the health-care overhaul law, with the nation's biggest firm projecting that rates could more than double for some consumers buying their own plans.
The projections, made in sessions with brokers and agents, provide some of the most concrete evidence yet of how much insurance companies might increase prices when major provisions of the law kick in next year
The nation’s big health insurers say they expect premiums — or the cost for insurance coverage — to rise from 20 to 100 percent for millions of people due to changes that will occur when key provisions of the Affordable Care Act roll out in January 2014.
Originally posted by marg6043
reply to post by SpaDe_
And free checks for the poor, don't forget that, poor people are expecting their free checks along with the welfare ones to buy insurance.
The individual mandate penalties will be pretty weak as they are phased in over two years - only $95 when they start in 2014, much less than it costs to buy insurance. And yet, everyone with pre-existing conditions will have to be accepted for coverage right away.
That's why insurance companies are telling the administration the mandate won't be enough for the first two years. They want more incentives - such as a late enrollment fee - to get healthy people to sign up quickly. Without getting the healthy folks in, the fear is that everyone's health insurance premiums could shoot through the roof when all those sick people get their coverage.
The idea is being called "mandate plus" - because some of the ideas were floated by health experts last year as replacements, in case the Supreme Court struck the mandate down. Now that the mandate is here to stay, insurance companies and some policy experts say the other ideas should go hand in hand with the coverage requirement to make the whole system work - and be affordable.