Some No written confirmation and few details as of yet, but I’m hearing from very trusted sources that Blue Cross Blue Shield is going to be implementing a staggering 42% rate increase in South Dakota directly as a result of Obamacare!
Stay tuned for more on this!
UPDATE – I had a call from someone involved somewhat with Wellmark, and received some more details. This is not across the board on all individual plans. This applies specifically to plans under the ACA that are sold through the federal exchange in South Dakota.
This means specifically the Obamacare plans are taking a huge jump, which actually comprise less than 4% of the plans sold in the state.
Aren’t you voters who voted for Obama proud now?
How is that going to save me $2,500 a year as Obumma promised???
It’s not savings on what you are paying. It’s savings on the increase of what you would have been paying if Obamacare did not exist.
Kind of like the hypothetical of how bad the economy would be if it weren’t for the stimulus. Or how many terrorist attacks there would have been if Bush hadn’t invaded Iraq.
It’s a simple formula elected officials use now. Don’t compare to what actually happens. Compare to what would have happened if they had not done what ever it is they did.
I know things are bad now but imagine what it would have been like had we not had the stimulus.
I know health care coverage is bad but imagine how bad it would be if only we had not enacted the whatever program….
Don’t forget the South Dakota Legislature’s insurane mandates in the past few years.
anyone who even bothered to do the simple math along the increments in 2009 while this was debated, has known about these increases coming at some point. we’re shocked, shocked i say. anyone shocked by this is part of the problem that caused it.
the increase directly stems from making all policies cover everything, and putting all people in the same risk pool, and demonizing cost-effective coverage and paying based on your own personal risk exposure. don’t buy that “oh the savings were based on how much MORE than this you’d pay otherwise,” stuff – – it is rhetorical dissembling bullcrap. stay testy people.
even if most plans don’t increase that much, they’ll increase to some degree. and even if they didn’t balloon, insurance costs didn’t ever go down at my house this whole time. that’s all i know.
If an 80-year-old male didn’t have to pay for obstetrics insurance, if a woman didn’t have to pay for prostate coverage, i.e. if a person could choose the type of coverage he/she needed and could afford, it would be a much saner world. But, no the govt knows best – ha?!
My cat’s sister’s husband’s brother had the same problems, springer. He feels your pain.
@Springer…you don’t know enough about health insurance or business to think your way out of a paper sack. It’s an all inclusive policy and it’s cheaper than piece-meal. If you ask for a Big Mac without the pickles it’s the same price. If you want “No Mexican TV” on your cable, it’s the same price. #FacePalm If you want your CC and water with no ice, it’s the same price.
Springer – the problem with allowing people to pay for and get only the coverage they need is that most health insurance events are unpredictable and everyone wants to pay as little as possible.
What happens when a healthy 25-year-old who didn’t get any insurance because he/she didn’t think they needed it gets into a car accident and has $100,000 medical bills? You might say that the person pays out-of-pocket, right? Wrong. Most people don’t have the ability to pay large medical bills out-of-pocket so they don’t pay. Who then picks up that bill? Taxpayers, hospitals, healthcare providers, or some combination thereof.
So by mandating all people to have basic insurance coverage and mandating insurance companies cover certain minimum things, we can help reduce costs to each individual person. The cost of the insurance can be disbursed among all people and employers. I’m not saying the ACA is perfect, but the idea behind it makes some sense regardless of politics.
I do not want to speak for Springer, but I BELIEVE she was pointing out that it does not make sense for a man to have to pay for pregnancy coverage. A woman who has had a hysterectomy is unlikely to get pregnant, as is a woman who is 60 years old. And people who go to McDonald’s and do not believe they can eat a quarter pounder eats a hamburger instead. They choose what is right for them. But then that is not apples to apples.
I think someone is mixing up some facts, as Wellmark does not sell any plans through the Federal Exchange in SD. All of their plans are sold off the Exchange.
Wow rocket science for you all like products dont go up every year like produce cars and even twins tickets if thet finish 500
Too bad none of you realize that access to affordable healthcare is not a right. Yeah, you may be able to get in to the hospital through the ER thanks to EMTALA, and our health systems will beat the hell out of the Counties for the payment of catastrophic poor relief ( thank you legislature for forcing Counties to pay our markedup bills and our attorney fees), bur you simply aren’t entitled to diddly squat unless you are able to get VA benefits, Medicare, or IHS. That’s great that some mamby-pamby euro countries feel it is a right for all citizens to have coverage….bunch of socialist dead beats. In the U.S. we don’t tolerate those who cannot pull their own weight. 42%……well, you had it coming. Healthcare ain’t no charity. If you truly think so, you need to work in the c-suite at Avera or Sanford. Do you think we start with mentioning our charitable purpose? Yeah, only after our collection agenies work you over. Want to talk about fun….stop by AMI and listen to their collectors….it is a riot! Anyway, what do you expect? Something for nothing? Forget it. 42% this year….58% next. I love this incredible machine.
Oh, forgot to mention HCAPS and pay- for performance….funniest thing ever. Loved it when John came to our retreat and stood in front of us and said, “don’t worry boys, we know you’ll pass.” Darn right we will if you want us to keep giving you those 35s. Republican or Democrat….neither party can stop us….Republicans with Medicare Part D….talk about a ballot stuffing dog-and-pony show….cannot even negotiate prices. Democrats, obamacare!
It’s may be true that some premiums are increased. The fact that you now have insurance that can’t be “refused to be renewed” if you get cancer, diabetes, ms or any long term illness is well worth it. What kind of insurance did you have that could AND did “refuse to renew” at the end of the year if you got sick causing a Nat’l epidemic of medical bankruptcy? Not really insurance at all, huh?
The problem with the ACA is that nothing in it controls costs. In fact it has a built-in incentive to increase costs: the medical loss ratio rebate provision.
The insurance companies can charge whatever they want, as long as they spend at least 85% or so on benefits. It doesn’t matter if the premium is $10,000/year or $100,000, as long as they spend the proper percentage on benefits. They get to keeps about 15% for their expenses, anything left over they are supposed to rebate to the customer. That’s the medical loss ratio rebate. Your employer will receive the check, not you, by the way.
So, ultimately the way for insurance companies to increase their net is by charging higher premiums and paying more out in benefits. This will require the cooperation of the health care providers, who are more than happy to increase their charges to suck up all the funds available. If your insurance company is willing to pay $5000 for a wart removal, then that’s what it’s going to cost.
The insurance companies can keep 15% of a $10,000/year policy, or they can keep 15% of a $100,000/year policy. Kind of a no-brainer. And the old-fashioned price control, the ability of the consumer to pay the premiums, is no longer there because the premiums will be subsidized to make even the most astronomical premiums affordable. And so, they will go up and up.