State Insurance Commissioner Weighs in on Obamacare Premiums Rising

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JACKSON, Miss. – The Affordable Care Act is under fire again after an announcement by the Obama Administration that insurance premiums under the plan known as “Obamacare” are expected to increase by 25-percent.

The increase comes from a government report released Monday projecting that costs of the benchmark silver plan would skyrocket.

According to that report insurance premiums for a 27-year-old enrollee will cost around $300 a month.

Consequently insurers are pulling coverage from states including Mississippi.

“The enrollment numbers are inflated by HHS, and the program is just not working — it’s a lot of hot air, and a lot of hype,” Mississippi Insurance Commissioner and State Fie Marshal Michael Jackson “Mike” Chaney said.

$282 Per person, per month is the average cost of Obamacare in Mississippi without a government subsidy – that  is, if you are enrolled in one of the three plans currently offered.

“Now the difference is made up by the taxpayers, that make the payout to the federal income tax, and the federal government redistributes that,” Chaney explained.

A recent report suggests healthcare in Federal Marketplace Exchange is growing more expensive for the federal government, as insurers raise prices.

“Folks that passed this said, you can keep your doctor, you can keep your plan, you can keep your everything you’ve got– that has not happened,” Chaney explained. “What has happened instead is we have people like United Healthcare which covered all 82 counties pull out of the market effective December of this year.”

According to Chaney, the policies in Mississippi are the cheapest in the nation right now expected to increase by 25 percent.

“My goal is to be able to find a cheaper policy for the consumers in the state and we still have people buying on the open market that cannot buy on the affordable care act because their income is too high.”

Chaney says the bottom line in all this is Mississippi still has some of the lowest rates in the nation for the consumer, he also says the entire state still has coverage at this time.

 

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