Wednesday’s Wall Street Journal reported that insurers are implementing a new round of premium increase this fall. The cause – the federal health care reform legislation passed last March.
“…these costs are now being passed on to consumers.”
In an effort to show voters some tangible benefit from the bill, congressional Democrats required certain insurance reforms to go into effect six months after it went into effect. These reforms, like eliminating pre-existing condition exclusions and coverage for children up to age 26, start going into effect on September 23.
What is surprising to many supporters of the bill is that these changes have costs. And these costs are now being passed on to consumers.
Across the country, insurers have begun the process of raising premiums from one to nine percent to cover the additional cost of the reforms going into effect. Much of the impact of these increases is falling on those whose coverage is in the individual or small group markets.