IBD wrote last week that the, “Illinois’ insurance regulator said ObamaCare premiums in the state will jump as high as 55%. The Obama administration’s response to this and other news of massive rate hikes: Don’t worry. Be happy.”
Yes, be happy that this fall Illinois Obamacare premiums will increase by an average of 48% – the Bronze by 44%, the Silver by 45% and the Gold by 55%.
What ever happened to that $2500 savings we were promised? Well, some will save – in fact, make out like bandits. Those being subsidized will see their subsidies increase, allowing plans to be offered for less than $100 per month – for every increase in our premium means an increase in the subsidy.
And if you think Illinois is an outlier, think again. As one state’s losses pile up, other states will follow. Nationwide, insurers and exchanges are recording massive losses, which means the rest of us will be stuck holding the bag with 40-50 percent increases every year to pay for those losses and the subsidized.
Well, what about seniors? They are the ones in need of medical care most and more often. Surely they will taken care of. No – no they won’t. “The latest Medicare Trustees report, warns that by 2040 half of all hospitals, 70% of all skilled nursing homes and 90% of home health care services will not be able to survive under Medicare’s increasingly skimpy fees.”
Translation: Because facilities can’t remain in business merely accepting payment from Medicare, seniors will either have to make up the difference, which many cannot afford, or be refused service and care.