Health insurers jacking up rates by double digits in advance of Obamacare

This is only the beginning. What insurance rates will look like next year when Obamacare goes into effect is anyone's guess, but they will almost certainly be higher than they are today. And today, the costs for health insurance are skyrocketing. New York Times: Health insurance companies across the country are seeking and winning double-digit increases in premiums for some customers, even though one of the biggest objectives of the Obama administration's health care law was to stem the rapid rise in insurance costs for consumers. Particularly vulnerable to the high rates are small businesses and people who do not have employer-provided insurance and must buy it on their own. In California, Aetna is proposing rate increases of as much as 22 percent, Anthem Blue Cross 26 percent and Blue Shield of California 20 percent for some of those policy holders, according to the insurers' filings with the state for 2013. These rate requests are all the more striking after a 39...(Read Full Post)