Obamacare enrollees are reeling from high deductibles

Obamacare (c) Desert Rose Creations / Family Survival Protocol 2013

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First, the administration revealed that enrollments for Obamacare next year will barely hit 10 million, far below previous projections.

Then last week, the consulting firm of McKinsey & Company estimated that premiums for policies under the Affordable Care Act, also known as Obamacare, were going up substantially in 2016. For instance, the median rate increase for the lowest priced, highly popular “Silver” plan will rise by 11 percent – compared to just a seven percent increase in 2015.

Related: Millions Face Premium and Deductible Sticker Shock under Obamacare

Now there are troubling reports  that consumers will be facing soaring out-of-pocket costs for deductibles next year – increases that in many cases will neutralize the benefits of their health care plans or discourage some from purchasing coverage.

“That these deductibles are so high is clearly one of the reasons people aren’t buying a plan—they simply don’t see themselves getting anything for the money,” Robert Laszewski, president of Health Policy & Strategy Associates, a business and policy consultant, said in a newsletter on Monday.

Department of Health and Human Services officials insist that there are still plenty of plans available with low premiums for those willing to aggressively shop on the federal and state operated insurance exchanges. Americans have until the end of the year to enroll for the third season of Obamacare. But even in cases where consumers find good deals on premiums, they are likely to be stung on the back end by requirements to pay sizeable out of pocket costs before their Obamacare coverage actually kicks in.

The average annual out-of-pocket costs per worker increased nearly 230 percent between 2006 and 2015, according to an annual survey of employer health benefits coverage by the Kaiser Family Foundation.



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Americans Give Health Insurers a Big Thumbs Down

 

By Millie Dent

 

 

November 17, 2015

 

 

Americans haven’t been this fed up with health insurance companies in a decade, and their frustration likely won’t fade soon.

Consumer satisfaction with health insurance providers fell to the lowest level since 2005, largely due to the slow processing of claims and the rising costs of premiums, deductibles and copays, according to a new survey from the American Customer Satisfaction Index that dates to 2001.


Related: How Workers Are Getting Slammed With Higher Health Care Costs
 

Americans are extremely cost sensitive, especially in the health sector, and take notice of how fast their costs go up, says ACSI managing director David VanAmburg.

Obamacare also plays an indirect role. Providers are unable to keep up with customer service as more people purchase insurance, he says. And many insurers haven’t beefed up their staffing to deal with the increase in demand. As insurers become responsible for more consumers, they may need to recalibrate, VanAmburg says.

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Obamacare customers are facing an average 7.5 percent price increase for a key benchmark health plan next year; But the average rate hikes will vary dramatically from state to state

 POLITICO

Roughly 80 percent of Obamacare customers received subsidies. | Getty

Obamacare rates to rise 7.5 percent next year

But the figures will vary widely from state to state.

By Paul Demko

10/26/15 06:18 PM EDT

Obamacare customers are facing an average 7.5 percent price increase for a key benchmark health plan next year, according to limited data the Obama administration released just days before the start of a challenging enrollment season.

But the average rate hikes will vary dramatically from state to state — skyrocketing more than 30 percent in Alaska, Montana and Oklahoma while dropping 12.6 percent in Indiana.

The administration's analysis looks at the second-cheapest "silver" plan available to customers when open enrollment begins on Nov. 1. Those benchmark plans, which are among the most popular sold on the law's health insurance exchanges, are important because they're used to calculate how much federal support low- and middle-income exchange customers will receive toward their monthly premiums.

More than 70 percent of exchange customers chose silver plans this year, which cover about 70 percent of medical costs. Roughly 80 percent of Obamacare customers received subsidies, worth an average monthly credit of $270.

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Feds keeping us in the dark : 11 co-ops “are either on a corrective action plan or enhanced oversight. More than $900 million of the original $2 billion in loans has been lost.

Feds Hide Secret List Of 11 Staggering Obamacare Insurers

 

 A man looks over the Affordable Care Act (commonly known as Obamacare) signup page on the HealthCare.gov website in New York in this Oct. 2, 2013 photo illustration. (REUTERS/Mike Segar)

Richard Pollock

Federal officials have a secret list of 11 Obamacare health insurance co-ops they fear are on the verge of failure, but they refuse to disclose them to the public or to Congress, a Daily Caller News Foundation investigation has learned.

Just in the last three weeks, five of the original 24 Obamacare co-ops announced plans to close, bringing the total of failures to eight barely two years after their launch with $2 billion in start-up capital from the taxpayers under the Affordable Care Act.

All 24 received 15-year loans in varying amounts to offer health insurance to poor and low income customers and provide publicly funded competition to private, for-profit insurers. The eight co-ops to announce closings served populations in ten states: Iowa, Nebraska, Kentucky, West Virginia, Louisiana, Nevada, Tennessee, Vermont, New York and Colorado.

Nearly half a million failing co-op customers will have to find new coverage in 2016. More than $900 million of the original $2 billion in loans has been lost.

 

The 11 unidentified co-ops appear to be still operating but are now on “enhanced oversight” by the federal Centers for Medicare and Medicaid, which manages the Obamacare program. The 11 received letters from CMS demanding that they take urgent actions to avoid closing.

Aaron Albright, chief CMS spokesman, said 11 co-ops “are either on a corrective action plan or enhanced oversight. We have not released the letters or names.” He gave no grounds for withholding the information from either the public or Congress.

CMS officials have stonewalled multiple congressional inquiries into the co-op financial problems. The latest congressional inquiry came in a September 30 letter to CMS acting administrator Andy Slavitt demanding transparency over the troubled program.

“We have long been concerned about the financial solvency of CO-OPs,” three House Ways and Means committee members wrote to Slavitt. “Which plans have received these warnings or have been placed on corrective plans,” the congressmen asked. To date, they have received no reply.
Insurance commissioners in Vermont were the first to refuse to license the federally approved co-op there in 2013 because they feared those financial plans were unrealistic. But then the dominoes began to fall this year, resulting in at least eight co-op failures. And if CMS officials are to be believed, more failures may be on the way.

Sen. Charles Grassley , a senior member of the Senate Finance Committee who has been an outspoken critic of the troubled co-op program, said transparency should be a top priority for the faltering program.

“Since the public’s business generally ought to be public, CMS should have a good reason for not disclosing which co-ops are troubled,” he said.



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