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Obamacare to Hike Wisconsin Health Insurance Rates More Than 50%

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So much for it being the "Affordable Care Act"."  How much will premiums in the exchanges  jump? Depends on how old you are and where you live.

A 21 year old in Madison could see his/her premiums rise by a stunning 124.85%. The same person living in Milwaukee could see premium hikes of 78%.

Via Maciver:

Insurance costs will increase an average of 51 percent in Wisconsin under the Obamacare exchanges according to an analysis by the Office of the Commissioner of Insurance released Tuesday morning.
 
Ironically, President Barack Obama said the exchanges were having the opposite effect during a speech in California this summer. "Competition and choice are pushing down costs in the individual market just like the law was designed to do," the president said on June 7th.
 
However, that's not how it's playing out in Wisconsin.
 
"With that said, from our analysis, it appears premiums will increase for most consumers. And, while there is no question that some consumers will have subsidies and may not pay these higher rates," Commissioner of Insurance Ted Nickel said. "Someone will pay for the increased premiums whether it is the consumer or the federal government."
 
The MacIver News Service began contacting state lawmakers immediately after OCI released its findings.
 
"It is shocking, but not surprising. The unstated goal of Obamacare was to destroy private sector insurance, and that is what will happen. Our country is in for a very rocky ride until hopefully Obamacare is repealed in 2017," Senator Glenn Grothman (R-West Bend) told the MNS.

 

This chart lays out the stunning disparities in the projected increases:

Percent Increase From Pre to Post 2014, Average Per Area
Age Milwaukee Eau Claire Green Bay Madison Appleton Wausau Kenosha LaCrosse
21 78.11 68.75 53.73 124.85 54.18 77.44 37.59 88.53
40 40.85 48.35 53.73 73.43 36.75 35.03 15.15 41.58
63 45.48 58.12 22.54 70.04 32.01 26.07 9.72 37.29

 

As the Insurance Commissioner's Office explained;

It is important to note that a number of factors will impact how much of an increase an individual consumer will pay. The best way to determine how much you will pay is to review the exchange when it goes live on October 1. It should be noted some consumers will be eligible for a taxpayer-funded subsidy, which will offset the actual premium being charged for low-income consumers.
 
"With that said, from our analysis, it appears premiums will increase for most consumers. And, while there is no question that some consumers will have subsidies and may not pay these higher rates," Commissioner Nickel continued, "someone will pay for the increased premiums whether it is the consumer or the federal government."
 
It is important to note that any increase will not impact every consumer or group in the same way. The increases vary significantly across the state with some regions seeing far higher increases and others potentially seeing lower increases. The chart only includes data for plans that have filed to participate in the exchange. Comparisons for the group market are far more difficult to compare and therefore our office did not attempt to analyze rate comparisons for this market. Factors making this difficult include limited interest in the SHOP exchange by insurers, the interest in early renewals in the private market delaying increases until next year, and the tremendous variables in employer makeup and benefit differences.

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