‘Massive, Double-Digit Premium Increases’ In MD, CT, VA

SENATE REPUBLICAN COMMUNICATIONS CENTER

Contact: Antonia Ferrier 202.228.NEWS

'Massive, Double-Digit Premium Increases' In MD, CT, VA Amid Worries Of A 'Death Spiral,' Insurers Are Requesting Massive Rate Hikes Or Quitting Obamacare Exchanges Altogether

SENATE MAJORITY LEADER MITCH McCONNELL (R-KY): "For years, the American people have suffered under this failed law. They watched their premiums soar. They watched their choices dwindle. Now, they're watching as Obamacare collapses all around them." (Sen. McConnell, Press Release, 5/08/2017) [https://www.republicanleader.senate.gov/newsroom/remarks/obamacare-will-hurt-countless-more-americans-if-we-dont-act]

MARYLAND: 'Greater Than 50 Percent Rate Increase' Coupled With Worries 'That The Market [Is] In The Early Stages Of A Death Spiral'

"The head of the largest insurer in the Mid-Atlantic region warned Thursday that the Affordable Care Act marketplaces were in the early stages of a death spiral, a statement that came as the company announced its request for massive, double-digit premium increases for next year." ("One Of Maryland's Biggest Obamacare Insurers Wants To Hike Rates 50 Percent Next Year," The Washington Post, 5/04/2017) [https://www.washingtonpost.com/news/wonk/wp/2017/05/04/one-of-marylands-biggest-obamacare-insurers-wants-to-hike-rates-50-percent-next-year/?utmcampaign=e20fdbdff2-EMAILCAMPAIGN20170508&utmmedium=email&utmsource=Speaker.gov%20Master%20List&utmterm=.e52b39407e39]

* "Projecting that by year's end the company will have lost a total of $600 million since it started selling plans in the marketplaces four years ago, CareFirst Blue Cross Blue Shield is requesting a greater than 50 percent rate increase in Maryland, a 35 percent increase in northern Virginia and a 29 percent increase in D.C." ("One Of Maryland's Biggest Obamacare Insurers Wants To Hike Rates 50 Percent Next Year," The Washington Post, 5/04/2017) [https://www.washingtonpost.com/news/wonk/wp/2017/05/04/one-of-marylands-biggest-obamacare-insurers-wants-to-hike-rates-50-percent-next-year/?utmcampaign=e20fdbdff2-EMAILCAMPAIGN20170508&utmmedium=email&utmsource=Speaker.gov%20Master%20List&utmterm=.e52b39407e39]

* "The largest rate increase request is for the CareFirst of Maryland Inc. and Group Hospitalization and Medical Services Inc. PPO (both CareFirst companies), seeking an average increase of 58.8 percent...The smallest rate increase request comes from Kaiser Foundation Health Plan of the Mid-Atlantic HMO, seeking an average increase of 18.08 percent..." ("Obamacare Rate Increase Requests Up 18-59 Percent In Md.," WTOP, 5/05/2017) [http://wtop.com/business-finance/2017/05/obamacare-rate-increase-requests-md/]

* "[Chet Burrell, chief executive of CareFirst] said he was worried that the market was in the early stages of a death spiral, in which sick people who need insurance stay in the pool but healthier people drop out, causing insurers to raise rates -- driving even more healthy people out of the market." ("One Of Maryland's Biggest Obamacare Insurers Wants To Hike Rates 50 Percent Next Year," The Washington Post, 5/04/2017) [https://www.washingtonpost.com/news/wonk/wp/2017/05/04/one-of-marylands-biggest-obamacare-insurers-wants-to-hike-rates-50-percent-next-year/?utmcampaign=e20fdbdff2-EMAILCAMPAIGN20170508&utmmedium=email&utmsource=Speaker.gov%20Master%20List&utmterm=.e52b39407e39]

CONNECTICUT: Insurers 'Seeking Double-Digit Rate Increases For 2018' Up To Nearly 34%, Concern Last Two Remaining Insurers 'May Leave'

"Health insurers in Connecticut are seeking double-digit rate increases for 2018... the state Insurance Department said Monday. Ten health insurers are seeking rate increases for next year averaging 15.2 percent to 33.8 percent for individual plans. The increases for premium plans range from 19 percent to 52 percent.... For small group insurance - employers with 50 or fewer workers - average rate requests are up 3.6 percent to 31.6 percent." ("Health Insurers Seek Double-Digit Rate Increases For 2018 Due To Rising Medical Costs, Marketplace Uncertainty," Hartford Courant, 5/08/2017) [http://www.courant.com/business/hc-health-insurance-increases-20170508-story.html]

* "The increases would affect 270,000 insured customers, the agency said." ("Health Insurers Seek Double-Digit Rate Increases For 2018 Due To Rising Medical Costs, Marketplace Uncertainty," Hartford Courant, 5/08/2017) [http://www.courant.com/business/hc-health-insurance-increases-20170508-story.html]

"The state's health insurers are asking for sizeable rate increases for individual and small-business policies sold in 2018, led by Anthem, which is seeking an average 33.8 percent increase on plans covering individuals and their families." ("Health Insurers Seek Big Rate Hikes, Blame Obamacare's Uncertain Future," The Connecticut Mirror, 5/08/2017) [https://ctmirror.org/2017/05/08/health-insurers-seek-big-rate-hikes-blame-obamacares-uncertain-future/]

* "Anthem said the cost of providing health care coverage through the individual ACA market 'has continued to outpace premium increases.' It also cited fees and taxes associated with the ACA as the reason it is seeking a sharp hike in the cost of its policies." ("Health Insurers Seek Big Rate Hikes, Blame Obamacare's Uncertain Future," The Connecticut Mirror, 5/08/2017) [https://ctmirror.org/2017/05/08/health-insurers-seek-big-rate-hikes-blame-obamacares-uncertain-future/]

"ConnectiCare has asked the Connecticut Insurance Department for an average rate hike of 15.2 percent on policies it sells through Access Health CT, where it now covers about 51,000 people. ConnectiCare also is asking for an average 26.3 percent rate increase on health plans it sells outside Access Health that cover more than 37,000 individuals." ("Health Insurers Seek Big Rate Hikes, Blame Obamacare's Uncertain Future," The Connecticut Mirror, 5/08/2017) [https://ctmirror.org/2017/05/08/health-insurers-seek-big-rate-hikes-blame-obamacares-uncertain-future/]

"When Access Health started up in 2013, it sold policies from four insurers. Now only Anthem and ConnectiCare sell policies on the exchange. Access Health CEO James Wadleigh has said he's concerned those two may leave, too." ("Health Insurers Seek Big Rate Hikes, Blame Obamacare's Uncertain Future," The Connecticut Mirror, 5/08/2017) [https://ctmirror.org/2017/05/08/health-insurers-seek-big-rate-hikes-blame-obamacares-uncertain-future/]

VIRGINIA: '27 [Of Virginia's 95] Counties Could Have Only One Choice For 2018'

"Aetna is throwing in the towel in Virginia after suffering big losses in its Obamacare business. The company said Wednesday that it won't participate in the state's individual market -- either on the Obamacare exchange or outside of it -- in 2018." ("Aetna Pulls Out Of Virginia's Individual Market, Citing Big Obamacare Losses," CNN Money, 5/03/2017) [http://money.cnn.com/2017/05/03/news/economy/aetna-virginia-obamacare/]

* "UnitedHealth Group Inc., which has largely stopped selling ACA health plans, said last month it was pulling out of Virginia." ("Aetna to Quit Virginia's Obamacare Market," Bloomberg News, 5/03/2017) [https://www.bloomberg.com/news/articles/2017-05-03/aetna-to-quit-virginia-s-obamacare-market-as-ceo-limits-risk]

* "The companies' exit... mean[s] that 27 [Virginia] counties could have only one choice for 2018, said Katherine Hempstead, a senior adviser at the Robert Wood Johnson Foundation, which funds health care research and grants." ("Aetna Pulls Out Of Virginia's Individual Market, Citing Big Obamacare Losses," CNN Money, 5/03/2017) [http://money.cnn.com/2017/05/03/news/economy/aetna-virginia-obamacare/]

* "Aetna sells health plans in 50 of Virginia's 95 counties, according to data from the Robert Wood Johnson Foundation. In 24 counties where it operates, there is just one other insurer selling Obamacare plans: Anthem, under the brand name HealthKeepers." ("Aetna Will Exit Obamacare Markets In Virginia In 2018, Citing Expected Losses On Individual Plans This Year," CNBC, 5/03/2017) [http://www.cnbc.com/2017/05/03/aetna-will-exit-obamacare-markets-in-virginia-in-2018.html]

SENATE REPUBLICAN COMMUNICATIONS CENTER

202.228.NEWS