Health Insurers Plan Hikes

[Valin]

WSJ:

Rate Increases Are Blamed on Health-Care Overhaul; White House Questions Logic
JANET ADAMY
9/8/10

Health insurers say they plan to raise premiums for some Americans as a direct result of the health overhaul in coming weeks, complicating Democrats' efforts to trumpet their signature achievement before the midterm elections.

Aetna Inc., some BlueCross BlueShield plans and other smaller carriers have asked for premium increases of between 1% and 9% to pay for extra benefits required under the law, according to filings with state regulators.

These and other insurers say Congress's landmark refashioning of U.S. health coverage, which passed in March after a brutal fight, is causing them to pass on more costs to consumers than Democrats predicted.

The rate increases largely apply to policies for individuals and small businesses and don't include people covered by a big employer or Medicare.

(Snip)

[Argyle58]

This is not unexpected. Considering the high unemployment rate, there are fewer bodies in the risk pool, the risk is higher for the insurance companies. But, more importantly, they are fully aware that the move to phase them out in favor of a public "option" begins in four years under Obamacare. You can't blame them for wanting to make what they can, while they can.