Why is my insurance agent telling us their health care premiums are going up by 15% per year from now on?

[Happyrainstorm936]

Obama said Bamacare wouldn't create any cost increases for those already insured. Please don't tell us you actually believed what Obama says????

[Ed]

Ask your insurance agent.

Next question.

[PoBoy]

Ask your agent. Have you shopped around? When I was responsible for insurance I performed a bi-annual review and rebid. You should do the same.

[jaymes_07]

Because the health care bill forces the companies to insure people who can't afford it, or who are incredibly high risk, so if they want to even remain in business, rates are bound to go up.

Funny how the House Dems failed to apply this basic level of common sense when they rammed this bill down our throats, telling us it would magically fix all of our problems.

[FLSwampBoy]

Premiums have been going up annually / companies lowering coverage long before the new Health Care law got passed.

At least be honest about it...

[Paul Jackson]

As opposed to all the previous years were it stayed the same, or went down?

Insurance rates have been going up for a long time. All the seat shiners have to get their cut.

"My insurance agent is the one griping about it. He is a Democrat, but he's starting to rethink his position on the health care thing because his own company is proving his assumptions wrong."

You agent is one of the seat shiners and he is trying to protect his cut.

"The companies are STIPULATING that this is exactly why their premiums are going up at an exponentially higher rate..."

Do you know what the word "exponentially" means?

[Chase]

He said the health care reform wouldn't increase your premiums, not that your greedy insurance company wouldn't increase their premiums.

The health care reform did some good things but it didn't go far enough to stop that kind of crap.

[Godless Heathen]

As opposed to their premiums going up for the past 10 years?

[Wizard09]

Because he's a crook. President Obama never said that premiums wouldn't increase he has no control over the insurance companies. The health care law doesn't even take effect until 2014, your insurance company is just gouging you.

[Kiran C]

First, President Obama did not said that but he did say to expect the premiums to be lower once the exchanges are up. They are not up. Also, actuaries have reviewed the new insurance regulations to see how much cost are to increase. That number is not a 15% per year. Most likely, the insurance is gouging you before the medical loss ratios are in effect. Once Medical Loss rates are in effect, if the insurance companies spends less than 80% of the premiums collected from you on health care you will get a refund.