New Yorkers on Obamacare expected to pay up to 80 percent more for health insurance next year

Wednesday, August 17, 2016
By Paul Martin

by: L.J. Devon
Wednesday, August 17, 2016

When New York’s Department of Financial Services reviewed insurers’ requests for the 2017 fiscal year, the state determined that individual Obamacare users would be hit with an average insurance premium hike of 16.6 percent. This is projected to negatively affect 350,000 or more individual Obamacare users in the state of New York. Small group users will be hit hard too, with an 8 percent increase. This 8 percent increase is projected to impact more than a million people in the state.

Average 16.6 percent premium hikes for New Yorkers in 2017

Health insurance providers originally sought an average premium hike of 28 percent to cover costs, but the state capped the premium increase at 16.6 percent. Nonetheless, policyholders will be shelling out hundreds of millions in wasted dollars that still won’t be enough to sustain health insurance companies. No amount of force, fine, mandate, tax or price control is going to fix the systemic problems, failures and faults within the medical system. As policyholders pay more, and as insurers lose money in the boondoggle, Obamacare can only be seen as a manipulative, controlling scheme that is an economic failure and a perpetuation of the problems detaching people from real health responsibility.

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