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Industry Updates Saturday, May 26, 2012  
 Health Insurers Reported to Increase Premiums

Health Insurers Reported to Increase Premiums

According to the Wall Street Journal, Aetna, some Blue Cross Blue Shield plans and other smaller carriers plan premium increases of between 1% and 9% to offset rising costs resulting from some of the reforms such as free preventive care and the elimination of lifetime and certain annual coverage caps in the new federal health care law. Health insurance companies say they plan to increase insurance premiums for individuals and small businesses to pay for extra benefits required under the Patient Protection and Affordable Care Act enacted earlier this year.

While the rate increases wouldn’t apply for people covered by a big employer or Medicare, about 9% of Americans buy coverage through the individual market and roughly twenty percent of citizens get coverage from companies that employ 50 or fewer employees, the Journal reported.

Rep. Dave Camp (R-MI), ranking member of the House Ways and Means Committee, cited the article this week when discussing the health care issue.


Posted on Thursday, September 23, 2010 (Archive on Monday, January 01, 0001)
Posted by kellymc  Contributed by
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