If you like your healthcare provider you can keep your healthcare provider… provided you pay a whopping 60% rate hike starting next year.
The Houston Chronicle is reporting that Blue Cross Blue Shield has requested a 60% rate increase in 2017 in Texas following complaints from the company that it is “losing money in the federal health exchanges because some customers have proven more costly to cover than anticipated.”
In other words, the cost of insuring people under the so-called “Affordable” Care Act is going to force prices to skyrocket to potentially unaffordable levels for everyone.
According to filings listed on healthcare.gov, Blue Cross and Blue Shield seeks increases between 57.33 percent and 59.35 percent for two of its Blue Advantage Plus plans. A Blue Advantage Health Maintenance Organization Plan is asking for a 58.6 percent hike…
In a country where the cost of living is going up on virtually all fronts but wages and jobs are not increasing, exactly who is going to be able to afford this insane rate hike? And that’s just to pay for the insurance in case you get sick…
According to the report, it is unclear what will happen if the rate hike request is not granted. When the same company requested a 51% increase in rates in New Mexico last year and the request was denied, the company simply withdrew all healthcare plans from the entire state.
It’s a domino effect. Obamacare is imploding the nation’s health care system.
Insurers across the nation, including Blue Cross and Blue Shield of Texas, have complained vigorously that they are losing money in the federal exchanges as some customers have proven more costly to cover than anticipated.
Blue Cross Blue Shield isn’t the only company that has been reporting large profit losses due to Obamacare. UnitedHealthcare has reported losses of $650 million. Humana reported a 46% loss in the first quarter of 2016 alone.