By Matt Rooney | The Save Jersey Blog
The poor keep getting poorer under Democrat rule, Save Jerseyans.
Just the latest example: around 100,000 New Jerseyans are about to see their Obamacare plan premiums rise by 10%, or more, effective January 1, 2016. That’s according to a new look at government data and insurance company reported rate increases from NJ Advance Media‘s
Why? Besides the general suckiness of the government’s latest attempt to override the immutable rules of economics and nature? A bunch of stuff that critics like yours truly predicted way back before the ACA was signed including a spike in the number of doctor’s office visits.
And it’s entirely likely to get MUCH worse. We’re expecting a decision from the U.S. Supreme Court in King v. Burwell any day now that will decide the fate of Obamacare’s federal subsidies. Bottom line: as I’ve explained before, the law cannot survive without subsidies (which should tell you everything right there).
New Jersey is the prime example, at the front of the national pack in terms of subsidized plans; of the roughly 208,000 New Jerseyans purchasing Obamacare insurance through the federal exchange (remember, Christie opted out of the state exchange route), 80% receive some form of subsidy on a monthly basis. Yes, Obamacare is ALMOST a worse product than the electric car.
So if those subsidies go away this month? 10% rate hikes are going to look like a walk in the park by comparison. We’re talking 200% increases according to one independent analysis.
My advice for America:
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I’m sure that it will.
Throwback 2009 . . .
Obama told a joint-session of Congress in September 2009 when addressing the Health Care Act . . . “I will not sign it if it adds one dime to the deficit, now or in the future, period.”
Not just jersey. Every state has a massive unfunded mandate.
This statement, “…around 100,000 New Jerseyans are about to see their Obamacare plan premiums rise by 10%, or more”, isn’t technically correct, or, at least, isn’t supported, in at least two ways.
The first issue is with the numbers. The author of the linked article doesn’t supply anything like a spreadsheet, but it appears that the bulk of the 100,000 figure is coming from the 86,000 Horizon customers in their “Advantage EPO” plans. But if you follow the link to the ACA website, you will see that the increase for this group will not be uniform, and that the reported 10.8% increase is the AVERAGE for the group. In fact, Horizon claims that 70% of this group will see an increase of 9.9%, just (conveniently) below the 10% line. Similarly, the next plan mentioned in the article, an Oxford plan with 6,000 customers, will see rate increases varying from 1% to 24%. Again, not all of them will see increases of 10% or more. In this case, Oxford doesn’t indicate how many of them will get the lower increases.
The second issue is that these are REQUESTED increases. The actual increases will not be known until November.