Obamacare: Post from Facebook

[handmade34]

4. increase may not be from ACA

http://www.whitehouse.gov/sites/default/files/uploads/careact.pdf


"80/20 Rule: The health insurance companies of 76 million Americans now have to meet the 80/20 rule, or Medical Loss Ratio, where they must spend at least 80 cents of your premium dollar on your health care or improvements to care. If they fail to meet this standard, they must provide a rebate to their customers.


• Reviewing premium increases: For the first time ever in every State, insurance companies must publicly justify any rate increase of 10 percent or more. And the new law gives States new resources to review and block these premium hikes. Already, more than $154 million in grants have gone to States to assist them in implementing or improving their rate review activities..."

http://www.healthcare.gov/law/resources/index.html

Q. Will my insurance premium go up?

A. The Congressional Budget Office estimates that private health insurance premiums will increase by 5.7 percent each year, on average, from 2012 until 2022. But premiums would be getting more expensive with or without the Affordable Care Act. The budget office has estimated that, relative to what would happen in the absence of the law, premiums in the individual insurance market will be a little higher, employer-sponsored insurance premiums for big companies will be a little lower and employer-sponsored insurance premiums for small companies will stay about the same.