Health insurance rates to double as Obamacare fully kicks in

(NaturalNews) Writing on the blog of the Department of Health and Human Services on the third anniversary of the passage of the Affordable Care Act, more popularly known as Obamacare, HHS Secretary Kathleen Sebelius had this to say about the impact of the law on insurance rates:

As a former state insurance commissioner, I know that for too long, too many hard-working Americans paid the price for policies that handed free rein to health insurance companies. For more than a decade before the Affordable Care Act, premiums rose rapidly, straining the budgets of American families and businesses. And insurers often raised premiums without any explanation. ... The Affordable Care Act is working to bring affordability and fairness to the marketplace by barring insurers from dropping your coverage when you get sick or placing a lifetime dollar limit on coverage.

Sebelius goes on to imply that provisions within the law (requiring more "transparency" from insurance companies, for instance) will eventually help lower rates (though she never says so directly). In other words, she's dodging the issue of rising premiums, and with good reason: Premiums under Obamacare are likely to double for most Americans, according to health insurers who are being forced to comply with Obamacare's stringent coverage requirements.

Wait - weren't premiums supposed to go down?

"Health insurers are privately warning brokers that premiums for many individuals and small businesses could increase sharply next year because of the health-care overhaul law, with the nation's biggest firm projecting that rates could more than double for some consumers buying their own plans," The Wall Street Journal reported March 22.

Insurers made those projections in sessions with agents and brokers; they provide some of the most damning evidence so far of just how much Obamacare will force companies to raise rates when major provisions of the law kick in next year - just as scores of industry experts and economists warned would happen.

Learn more: http://www.naturalnews.com/039651_health_insurance_Obamacare_double.html#ixzz3U4cPi0Xq