Georgia's insurance
commissioner - Ralph Hudgens had declared there would be "Massive rate hikes"
under the Federal Affordable Care Act. Hudgens is a strong opponent of the Affordable Care Act and said he had agreed
to the rates of July 31st
since the federal government did not grant an extension of their deadline.
"Obamacare
will inflict substantially higher health insurance costs on Georgia consumers,"
Hudgens declared.
An Update on UK Health Insurance
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Bill Custer, a Georgia State University insurance expert is of a different opinion. According to him the rates were the same as proposed by the insurers earlier. "There are clearly not major rate increases for most people who currently have individual coverage," Custer said. "They look like group coverage."
Also
with many people qualifying for subsidy the cost of the premiums would
definitely be even lower.
Custer felt that
Hudgens had only looked at some specific examples for rate increase. "Certainly some people will pay more because they can't
buy the same coverage," Custer said. But overall he doesn't see a surge in
premiums.
![Health Insurance]( "Health Insurance")
Currently, rates that Georgians are paying for individual policies are not publicly available. "Nobody knows what the current average rate in the individual market is because each policy is priced for the individual," Custer said. Earlier this year Hudgens had said that people around 35 years of age would see a hike of more than 100%, middle-aged people would see up to 100% and older people would face a hike of 40%.
Hudgens said in a recent statement in response to Custer's conclusions: "The Obamacare exchange rates, which were justified by independent actuaries, will substantially increase health insurance costs for many Georgians. Although not all Georgians will receive federal subsidies, one thing is certain: there is no such thing as a free lunch. All of us will pay for the Obamacare subsidies in the form of higher taxes in the years to come."
There are approximately 600,000 citizens covered in the individual market in Georgia and according to Custer 372,000 were the projected number to enroll in the exchange - with subsidies making the cost more affordable.
References:
Hannah Punitha (IRDA Licence Number: 2710062)
Andy Miller
Source: Medindia
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Currently, rates that Georgians are paying for individual policies are not publicly available. "Nobody knows what the current average rate in the individual market is because each policy is priced for the individual," Custer said. Earlier this year Hudgens had said that people around 35 years of age would see a hike of more than 100%, middle-aged people would see up to 100% and older people would face a hike of 40%.
Hudgens said in a recent statement in response to Custer's conclusions: "The Obamacare exchange rates, which were justified by independent actuaries, will substantially increase health insurance costs for many Georgians. Although not all Georgians will receive federal subsidies, one thing is certain: there is no such thing as a free lunch. All of us will pay for the Obamacare subsidies in the form of higher taxes in the years to come."
There are approximately 600,000 citizens covered in the individual market in Georgia and according to Custer 372,000 were the projected number to enroll in the exchange - with subsidies making the cost more affordable.
References:
Hannah Punitha (IRDA Licence Number: 2710062)
Andy Miller
Source: Medindia
Quiz on Health Insurance
This Quiz is to test your knowledge on health insurance in the U.S, there is so much activity with the new law and building of Health Exchanges - all peaking for a January 2014 deadline.
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 Consumers Have Questions for Health Insurance ExchangeThese are a few of the queries that people will have when they buy insurance on health exchange, the officials need to be prepared to face all the issues which may arise. | Advertisement
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