News about the disastrous implementation of Obamacare has become so widespread that, to be honest, we’re having a hard time keeping up with all of it. We’ve written extensively about the canceled plans that failed to meet Obamacare coverage requirements, and we’ve written about how Sen. Mark Udall tried to cover it all up.
Now, we’re seeing reports that if you weren’t one of the unlucky souls whose small group plan was cancelled because of Obamacare, your premiums have likely increased by 29 percent instead. Colorado is among the top ten states seeing the biggest increases in health insurance premiums for small group plans, according to a new survey of brokers who sell to that market. Forbes reports:
The April survey shows the largest acceleration in small and individual group rates in any of the 12 prior quarterly periods when it has been conducted….
…The analysts conducting the survey attribute the rate increases largely to a combination of four factors set in motion by Obamacare: Commercial underwriting restrictions, the age bands that don’t allow insurers to vary premiums between young and old beneficiaries based on the actual costs of providing the coverage, the new excise taxes being levied on insurance plans, and new benefit designs.
Democrats will no doubt point their fingers at insurance companies over rate increases, but they will only have themselves to blame. After all, when you let those very same insurance companies write the overhaul of your healthcare system behind closed doors, what else can you expect?