As the Obamacare repeal and replace effort raged on in Congress over the past six months, several Democrats and even some of the original Obamacare architects stepped forward to argue that the crippling premium increases from 2014 through 2017 were just a 1x market adjustment and that everything would miraculously ‘stabilize’ in 2018.
Well, according to data from the Kaiser Family Foundation, that prediction isn’t playing out exactly as expected. Taking a look at 21 of the bigger healthcare markets in the United States, Kaiser found that premiums submitted so far for 2018 are increasing at an average rate of 17% YoY and ranging up to 49% in Wilmington.
Now, we understand that the term “stabilizing” is somewhat subjective but we’re not sure that rates spiking at 10.5x prevailing inflation rates, on average, would reasonably fit anyone’s definition.
This post was published at Zero Hedge on Aug 10, 2017.