As if we all don’t have enough problems with making ends meet now, our sex health insurers are telling the Director of Insurance that they need an average premium rate hike of 27% to fill the gap of their losses sustained last year. Might we remind you that the executives of these non-profit companies do not have to disclose their compensation, but they are willing to disclose their losses for the past year. How many Idahoans will not be able to pay these new premiums and will lose their insurance?
|INSURANCE CO.||PROPOSED INCREASE||CLAIMS IN 2015||PREMIUMS IN 2015|
|Blue Cross Idaho||28%||$251 million||$230 million|
|BridgeSpan||12%||$5 million||$3.2 million|
|Mountain Health CO-OP||21%||$69.1 million||$53.7 million|
|PacificSource||8%||$8.1 million||$7.9 million|
|Regence BlueShield Idaho||14%||$5.1 million||$3.6 million|
|SelectHealth||32%||$49.2 million (Jan-Mar 2016)||$34.4 million (Jan-Mar 2016)|
Insurers have sustained these losses because two of the federal programs from Obamacare to help insurers expire this year. The State of Idaho can only review these rates before taking effect and tell us if they think they are unreasonable. They cannot set or disapprove rates. Five of these insurance companies sell insurance on the State Healthcare Exchange, and you can expect similar increase if you buy your insurance there.
Let us take you back to the fight we had with the legislature when they voted to put in a State Exchange. Remember all of the campaign contributions they received from the insurance companies and medical associations. Remember how they lied to all of us including the Governor when they said that the exchange would bring lower premiums. Now we hope you will remember next time you go to the polls and vote.
You can be sure that Dean Cameron, our Department of Insurance Director, will tell us how he will fight to get lower rates, but he knows he doesn’t really have any control. By the way does anyone remember that Mr. Cameron was a legislator in the insurance business before becoming Director and voted for the State Exchange? He doesn’t have to worry he gets his insurance paid for by you guessed it, the taxpayers. Mr. Cameron is one of those pension jumpers that the Idaho Freedom Foundation talks about who will get a mucho large pension for about four years of full time work.
Yes indeed folks, our Governor and legislators brought us Obamacare and now we’re all screwed.
“We Get the Government We Deserve” or “They Get the Gold Mine We Get the Shaft”
The preceding were Tea Party Bob’s comments on this morning’s Kevin Miller show on 580 KIDO.