by Mitch Kokai
Senior Political Analyst, John Locke Foundation
Joe Schoffstall reports for the Washington Free Beacon on the latest sign that the Affordable Care Act is misnamed.
Individual market premiums are set to increase by nearly 50 percent in Minnesota despite President Obama’s pledge that his healthcare law would make premiums more affordable.
The Minnesota Department of Commerce recently released their 2016 review for individual and small group health insurance policies that will be available during the open enrollment period from Nov. 1, 2015, through Jan. 31, 2016, and acknowledge premiums are set to spike in some cases by nearly 50 percent.
Freedom Partners elaborates on the spiked premium rates set for 2016:
All eight of Minnesota’s healthcare insurance carriers were approved for double-digit rate increases on the individual market, meaning 320,000 people will see their healthcare costs increase significantly next year.
Blue Cross and Blue Shield of Minnesota — the state’s largest healthcare insurer — will see the largest spike of 49 percent, affecting up 179,000 Minnesotans.
“Because of the Affordable Care Act, hundreds of thousands of people across the state of Minnesota will see their healthcare premiums soar next year,” said Freedom Partners senior policy adviser Nathan Nascimento. “Double-digit rate increases of up to 49 percent were not what Minnesotans had in mind when President Obama promised them that their premiums would go down.”
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