Health Insurers Pin Rate Hikes on Obamacare

Wednesday, 08 Sep 2010 09:45 AM

 

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Health insurers say they plan to raise premiums on some Americans due to Obamacare, according to a report by the Wall Street Journal.

Aetna Inc., some BlueCross BlueShield plans and other smaller carriers have asked for premium increases of between 1% and 9% to pay for extra benefits required under the new law.

The insurers say Obamacare is causing them to pass on more costs to consumers than Democrats predicted. The rate increases largely apply to policies for individuals and small businesses.

About 9% of Americans buy coverage through the individual market, and roughly one-fifth of people who get coverage through their employer work at companies with 50 or fewer employees.

Both groups are expected to feel the effects of the proposed increases.

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