Obama-Care: Health Insurance Premiums Could Climb as Much as 67%

10-03-2010 • EconomicPolicyJournal.com

"It should be noted that premium increases were in excess of 30 percent over the previous year," said Barbara Brody of Barbara A. Brody & Associates. Brody said average rate increases next year for Manhattan-based firms she advises could be as high as "67 percent but will average 30 percent." That's because insurance companies, faced with higher costs after the passage of a giant health reform measure, plan to pass most of the costs onto consumers, according to several industry observers. The additional costs for the insurance companies include: covering dependents up to 26-year-olds as well as pre-existing conditions of new enrollees and coverage for the currently uninsured. And they will see hefty premium hikes and out-of-pocket expenses rise, they add. These increases would be in addition to big hikes already put in effect this year, Brody says...