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.
will inflict substantially higher health insurance costs on Georgia consumers,"
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."
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
rates that Georgians are paying for individual policies are not publicly
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%.
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."
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.
Hannah Punitha (IRDA Licence Number: 2710062)