May 8, 2017
Care First Blue Cross Blue Shield has asked regulators to approve average rate increases of 52% for individual health plans it sells through the state insurance exchange in Maryland and a 29% increase in Washington, D.C. Three other companies offering plans through the exchanges have also proposed very large increases.
While Maryland and D.C. insurance commissioners will almost certainly approve rate increases smaller than what these companies have requested, they are still expected to be large.
Instead of reducing the cost of health care by forcing the health care industry to accept lower profits, both ObamaCare and now TrumpCare simply change who pays for it, with more and more of the costs falling on the insured population either directly or through the taxes we pay. Meanwhile, specialty doctors, hospitals, nursing homes, drug companies and medical equipment manufacturers rake in bigger and bigger profits.