Reports David Hogberg:
[T]o Capital Hill’s immense shock and surprise, premiums are actually rising, despite the fact that ObamaCare now forces insurance companies to (1) let kids up to age 26 onto their parents insurance policies, (2) cover “preventive” services such as birth control without a co-pay, and (3) pay rebates if they violate ObamaCare’s medical-loss-ratio standards. Why on earth would insurance premiums be going up?
Alas, they are. The latest National Survey of Employer-Sponsored Health Plans from consulting firm Mercer found that employer-based plans cost an average of $10,558 in 2012, up 4.1% from 2011. Employers expect that, on average, premium costs will rise another 5% in 2013, bring the average cost of employer-base coverage to about $11,085.
Back in 2009, the year before [ObamaCare] was passed, Mercer’s survey found that the average cost of such coverage was $8,945. That means that going into 2013, premiums will have risen about $2,140. [Investor’s Business Daily, November 15]