Health Insurance Rate Skyrocketing

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Study Finds Average Health Premiums “Skyrocketed” After ACA.

The Washington Times (10/28, Richardson) reports that a new study of insurance policies before and after the implementation of the Affordable Care Act “shows that average premiums have skyrocketed, for some groups by as much as 78 percent.” Average premiums for the 23-year-old demographic rose “dramatically,” with men in that age group seeing a 78.2 percent price increase before government subsidies, and women seeing premiums rise 44.9 percent, according to a report by HealthPocket to be releasedWednesday. The study, shared Tuesday with the Times, also found that premium increases for 30-year-olds increased 73.4 percent for men and 35.1 percent for women. Kev Coleman, head of research and data at HealthPocket, stated, “It’s very eye-opening in terms of the transformation occurring within the individual health insurance market.” The article says that reasons for the premium increases include the ACA’s “prohibition on rejecting applicants with pre-existing conditions” and the heightened benefit mandate under the law.

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