Within the insurance industry: Q1 (Jan-March) cost/expense/enrollment information is collected. Q2 (April-June) calculations are made to costs (projections) for the following year. In Q3 (July-Sept) those projections become “premium rates” and are presented to State Insurance regulators for review and notification. In Q4 (Oct-Dec) the customer (YOU) are notified of the new rate.
What you are seeing now in Q1-2014 are the cost projections, the raw data, being collected and recording an astonishing reality. And Insurance executives warning that based on current data collection – Q2’s calculations will necessarily skyrocket.
Trying to stop the publicity of this is why Obama DID THIS. He’s trying to buy time by saying the feds will ramp up payments to insurance carriers – so please don’t tell people their rates are going up.
WASHINGTON DC – Health industry officials say ObamaCare-related premiums will double in some parts of the country, countering claims recently made by the administration.
The expected rate hikes will be announced in the coming months amid an intense election year, when control of the Senate is up for grabs. The sticker shock would likely bolster the GOP’s prospects in November and hamper ObamaCare insurance enrollment efforts in 2015.
The industry complaints come less than a week after Health and Human Services (HHS) Secretary Kathleen Sebelius sought to downplay concerns about rising premiums in the healthcare sector. She told lawmakers rates would increase in 2015 but grow more slowly than in the past. (more…)










