Blame Your Teenagers for Higher Healthcare Premiums

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Blame Your Teenagers for Higher Healthcare Premiums

November 17
18:40 2017

The healthcare industry is experiencing a very volatile future, filled with uncertainty, skyrocketing premiums and cancellations of more policies.

The uncertainty is due to not knowing what is going to happen to the future of healthcare. Will Obamacare remain largely intact and if so, how much longer will it survive before it collapses? Will Republicans ever be able to write a healthcare bill that will pass or will they eventually turn to Democrats to help with a bipartisan bill of compromise? If either of these scenarios happen, there is still no telling how much it will cost the American people in premiums or increased taxes, but one or the other is a certainty.

With the continuation of Obamacare, more healthcare insurance companies are being forced to drop more plans and policies because they are costing the companies too much money and this is largely due to one of the primary foundations that Obamacare was built upon that never materialized.

Obamacare required millions of younger and healthier adults to sign up for coverage. Since they will have fewer claims, their premiums were needed to offset the cost of paying coverage for policies used by older and less healthy individuals. Obamacare killed that right off by greatly expanding Medicaid to cover millions more people. The expansion was taken by the less healthy and older people. Obamacare required that the federal government reimburse states for 50% of the Medicaid costs, but many states have complained the payments received by the federal government are much less than the 50% promised. Without that young healthy base, there is no financial foundation on which the rest of Obamacare can stand. Consequently, over the past several years, millions of policies have been dropped and some people have had a policy dropped up to 3 or 4 years in a row.

Then comes the skyrocketing premiums. Thanks to the Obama administration, your huge premium increase could be due to you having teenagers. Consider what is happening with one family:

“Dede Kennedy-Simington, an insurance agent in Pasadena, Calif., was ‘totally dismayed’ when she learned recently that the premium on her family’s Blue Shield PPO would rise $391 a month next year — driven largely by huge increases for her two teenage children.”

“The cost of insuring her 16-year-old daughter will spike 60 percent in 2018, and it will jump 38 percent for her 13-year-old son.”

“The price surge stems from a change in federal regulations that allows insurers to recalculate the health risks of children within a family’s premium bill.”

That change in federal regulations was something enacted by the Obama administration last year that will affect 2018 premiums:

“…the complicated new rule, approved last year by the Obama administration, that allows insurance companies to assign more of a family’s overall premium cost to children in individual and small-group policies, starting in 2018.”

“It also allows insurers to charge higher rates for teens than for younger children beginning at age 15, because teenagers typically rack up bigger medical bills. Up until now, the ACA has not allowed any difference in the amount charged for children from birth to 20.”

It’s just another example of how the Obama administration waged war on the American family. Democrats argue that they want everyone to have affordable healthcare, but everything they have put forward did the exact opposite and this is just another example.

So, if you have teenagers, prepare to see your healthcare premium jump quite a bit.

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