Everything’s bigger in Texas. Including Obama’s failures.
Texans forced to buy health insurance through Obamacare exchanges had better find a second, or third, or fourth, job.
Despite Obama’s repeated promises Obamacare would reduce their premiums by an average of $2,500.00 a year, Texas’ Obamacare exchange announced this week it would raise prices by 58 percent this year.
Blue Cross Blue Shield of Texas, facing massive losses for its ObamaCare plans, has requested a 58% premium hike for 603,000 customers.
The company is pricing in the claims experience of customers that’s been far higher than expected after suffering a $770 million loss on its exchange plans in 2015, equal to 26% of premiums.
Overall, individual market insurers requested a 35% ObamaCare premium hike for about 1.3 million customers, calculated ACASignups.net, based on the full range of insurer filings available.
BCBS of Texas also is seeking an 18% increase for 353,000 members who buy plans via the small group market that caters to businesses with fewer than 50 employees…
…Meanwhile, Aetna (AET) is seeking a 15.2% rate hike for 84,000 Texas customers with ObamaCare plans.