Another Obamacare rate hike: Premiums to spike 13.2 percent

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Photo Source Watchdog.org

Individual health insurance premiums will increase an average of 13.2 percent in 2015, according to the Florida Office of Insurance Regulation.

That’s on top of this year’s 37 percent combined increase for individual and small group plans.

The new rate data comes from health insurance providers jockeying to participate in Florida’s federally-run Affordable Care Act insurance “marketplace.” In all, 14 companies filed rate data. Of the 11 returning plans, eight have price increases ranging from 11-23 percent, while three decrease in price from 5-12 percent.

“The average monthly premium for a Silver plan ranges between $938 and $1,452 for a family of four earning $51,000. Even with a federal subsidy, that could mean an out-of-pocket cost of $500 or more per month to have coverage that still requires Florida families to pay about 30% of expenses out-of-pocket for deductibles, copayments, and coinsurance,” an OIR statement reads.

Continue reading at Watchdog.org

By William Patrick | Florida Watchdog

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