OBAMACARE – THE RATE INCREASES – AT 9:06 A.M. ET:   We were told that dramatic rate increases were coming in the second year, and, for once, Obamacare is right on time.  From the New York Post: 

Insurance firms participating in New York’s ObamaCare health exchange are seeking double-digit hikes for patient medical premiums in 2015, new figures reviewed by The Post reveal.

The average hike sought by insurers for individual plans is 12 percent—but a number of firms serving large numbers of patients want to boost individual premiums by nearly 20 percent.

Leading the charge is Excellus Health Plan, which is seeking to sock more than 24,000 customers with a 19.7 percent hike.

The even larger MVP Health Plan, with nearly 33,000 customers, is seeking a 19 percent boost.

While a number of smaller plans put in for lesser increases or, in a number of cases, decreases, Health Republic Insurance of New York — the largest on the exchange with more than 68,000 members — requested a 15.2 percent increase for individual plans.

The proposed rate increases call into question one of the goals of the Affordable Care Act — curbing runaway health-care costs.

In some letters to customers, insurers cited requirements in ObamaCare as contributing to the proposed rate increases.

COMMENT:  We eagerly await, pen in hand, the comments of Nancy Pelosi, whose net worth is estimated at $30-million, who said that we should welcome higher premiums because we can then "help people." 

Well, at least I know I have lactation coverage and can get free birth control.  I'll sleep easier at night.

July 3, 2014