Obamacare mandates result in 47 percent hikes in insurance costs in Connecticut

Via Hot Air, comes this story in the Hartford Courant about how insurers in the nutmeg state are raising rates as much as 47 percent:

The state’s largest insurer has been approved to raise health premium rates by 41 percent to 47 percent for some of its policies sold to individual buyers, in the largest price hikes yet seen in Connecticut since the adoption of national health care reform.

For all of its individual market plans, Anthem Blue Cross and Blue Shield has received approval to raise rates by at least 19 percent — including a range of 30 percent to 44 percent for the brand of plans in the individual market that was most popular in 2009, Century Preferred.

The reason for the increases is the new federal health reform mandates, according to Anthem and the state Department of Insurance, which is defending its approval against charges by Attorney General Richard Blumenthal. Those reforms took effect Sept. 23.

Wasn’t Obamacare specifically supposed to halt the steep cost increases in insurance plans? That was exactly what the president claimed the month before the health care bill passed:

“People need to understand why we can’t back off on [health care reform],” the president said. “One of the major insurers in California just announced that in the individual market, they’re increasing their premiums by 39 percent. That’s a portrait of the future if we don’t do something now.”

Well, the future is now and not only is the bill not slowing the rise in insurance costs, Obamacare is actually exacerbating the problem. But hey, it’s a good thing the president spent all that time “getting the policy right.”

Beltway ConfidentialinsuranceObamacareUS

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