2015 Rate Increases Rolling in

[Yagents]

1 carrier in WA lowers rates and its touted all over the press, and Assurant raises them by 26% in WA. How competitive was Assurant in WA? Anyone know? Sounds like they only captured a small number of policy holders

Other states at risk of high rate increases include those that extended Non GF plans........OH and AZ.

Up to 26% increase in health-plan rates proposed by insurers | Local News | The Seattle Times

The States Where Obamacare Could Still Go Badly - NationalJournal.com

Virginia First To Release Post-Obamacare Premium Proposals | The Daily Caller

 

[Justin Bilyj]

Yeah OH is screwed...I saw an article back last year that said we lead the nation in rate increases etc.

 

[FLM2]

I don't do business in Washington but just checked Assurant's Seattle rates for 2014-they are virtually the same as Assurant rates for the Tampa Bay area, which are very competitive for Florida. That seems too low for the Seattle market, which has a higher cost of living.

Assurant only offers 1 plan for each Metal Tier in Washington as well, it seems to me that they weren't that interested in the market and probably just wanted to test the waters in 2014.

It will be interesting to see their rate increases for Florida and some of their other high volume states when they are filed.

 

[Yagents]

So here is a lesson on how you frame a discussion if your a politician. Take a few soundbites from the doomsayers spouting "20% increases" are coming next year, and pump it up in the press. Then, when increases only come in at 9.9%, they can say rates are only going up in "modest single digits". The ole' "under promise over deliver" tactic.

For the uneducated, this is a sign that O'care is working. But, peel back the layers and it's 20% increase off old rates, since rates have doubled.

I'd rather have a 10% increase on $300 than a 10% increase on $600. Just sayin'. 10% increases are not going to sit lightly with the middle income budget.

Anthem's Obamacare rates to increase less than 10% in California - Los Angeles Times

 

[LGilmore]

Assurant isn't a player here. very small % of policy holders. The blues and GH are 75% of the individual market. I think the average increase is going to be around 8-9% which isn't bad. But, WA really only had small changes when we took on the ACA. We had the Clinton plan since 94. There were no sweeping changes to our state, just adjustments.

 

[Yagents]

After rate hike rejected, Anthem to decrease premiums next year | The CT Mirror

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No, this isn't gov't controlled private health care?

 

[AllenChicago]

After rate hike rejected, Anthem to decrease premiums next year | The CT Mirror

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No, this isn't gov't controlled private health care?

anthem agents can look forward to a new contract for 2015 prefaced with a cover letter stating how valued they are.

 

[houcoogster]

anthem agents can look forward to a new contract for 2015 prefaced with a cover letter stating how valued they are.

I like getting those...always makes me feel all warm and fuzzy inside.

 

[AllenChicago]

8-25-2014

A perspective of how government reinsurance programs are keeping premiums lower than they would be without these programs.

Article: ObamaCare 2015 Premium Hikes: More Than Meets The Eye - Investors.com

The insurance company bailout provisions are scheduled to terminate at the end of 2016 however.
ac

 

[RayNY]

IMO, by holding the rate increases down with reinsurance, it's just going to be a bigger increase to the same premium amount when it ends, instead of even jumps each year. Risk and cost won't change, just how they arrive at the same result.

I hate when they average rate requests from carriers without considering market share (or providing the raw data!). A company with 90% market share going up 10 points, and a 10% company going up 1 point, is 9.1% not 5.5%.