Los Angeles Times : declared in Trump's moves are causing health insurance premiums to jump, study says

Actions by the Trump administration are triggering double-digit premium increases on individual health insurance policies purchased by many people, according to a nonpartisan study. Trump is insisting that lawmakers try again and that Obama's signature health overhaul is collapsing. Kaiser researchers looked at proposed premiums for a benchmark silver plan across major metropolitan areas in 20 states and Washington, D.C. Most of those in the government-sponsored markets can dodge the hit with the help of tax credits to help pay premiums. Insurers that assumed the IRS under Trump would not enforce unpopular fines on people who remain uninsured requested additional premium increases ranging from 1.2% to 20%.

Owatonna-based Federated to exit health insurance business

Owatonna-based Federated Insurance said it won't return to the group health insurance market in 2018, a move that means employers in Minnesota and 22 other states will lose an option next year for group coverage. Federated is best known for selling commercial property and casualty insurance, and hasn't been a huge player in Minnesota's health insurance market. Overall, Federated's group health insurance business includes more than 4,000 employer groups nationally with more than 57,000 covered lives. About 88 workers in Owatonna handle the group health insurance business; most are expected to find other positions within the company, which is otherwise growing. Compared with the individual market, the group health insurance market has been much more stable in recent years in terms of participation by insurance companies, said Sabrina Corlette, a research professor at the Center on Health Insurance Reforms at Georgetown University.


Maine's insurance superintendent has approved double-digit rate increases for 2018 marketplace health insurance plans. Steve Butterfield of Consumers for Affordable Health Care says higher health care costs as well the uncertainty the Trump administration has created about the future of the Affordable Care Act's marketplace are to blame. Insurance rates could rise even more if the Trump administrations discontinues cost-sharing reduction payments to insurers. "But Congress could help long term by coming back in September, and very quickly passing a bill that funds these cost-sharing reduction reimbursements permanently. Maine's Insurance Superintendent Eric Cioppa approved rate increases that range from 20 to 37 percent if the cost-sharing payments end.


collected by :Lucy William

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