In Illinois, Individual health-care premiums to soar up to 60%

[jefferson_dem]

Individual health-care premiums to soar up to 60%
ILLINOIS | Minimum hike to be 3% -- Durbin slams move as boost to profits

March 8, 2010

BY SANDRA GUY Staff Reporter

Individual health-insurance rates in Illinois will rise this year up to 60 percent, according to Michael McRaith, director of insurance for Illinois.

McRaith said insurance companies have filed reports showing that the individual plans' base rates will increase from 3 percent to more than 60 percent. The report, which lists each insurance company's rate increase from Jan. 1, 2008, to the present, can be seen online at insurance.illinois.gov under "Insurance Latest News."

Protesters rally against insurance premium increases in Los Angeles on Feb. 23, 2010. A new study says that individual health-insurance rates in Illinois will rise this year up to 60 percent.

Sunday, Sen. Dick Durbin responded to the report: "Emergency rooms are overflowing. Health centers are struggling to meet the increasing demand. Yet insurance companies continue to raise premiums for hardworking families and, consequently, their profit margins."

The report shows that 500,000 to 600,000 Illinoisans have bought private health-care policies from legitimate, licensed insurance companies.

Insurance companies are not required to report what they charge for group plans, such as those offered by employers.

McRaith said his office deals with 15,000 formal complaints a year about individual health-insurance policies.

He said, "We need some kind of ability to understand why their premiums are increasing so dramatically."

Last week, Health and Human Services Secretary Kathleen Sebelius told top U.S. health insurers to publicly justify a spate of double-digit premium hikes, mostly affecting individual policies.

http://www.suntimes.com/business/2089458,CST-NWS-insure08.article

[marmar]

1. The Mob, even in its heyday, would be in awe of the shakedown tactics.....

.... of today's Banksters and Health Insurance Industry thugs.

[Double T]

2. The in your face arrogance of the wall street criminals never ceases to amaze me.

How about a presidential executive order freezing and setting back all increases from HMOs, PPOs and the like until health care reform is passed. And do nothing congress, if you don't include a public option, make sure YOU pack your bags and clear out your desk because the voters are going to make certain YOU won't be returning after November. The time for revolution has come for 'We the People'.

[greymattermom]

3. one possibility

We found out recently that the COBRA extension, where they can't cancel it or deny because of a preexisting condition, costs more that twice as much as an individual plan. I think this has to do with repricing plans to account for not being able to cancel under the new law. We had to buy the COBRA extension for my 26 year old daughter because she has a very common preexisting condition that does not add to her health costs, but was denied individual insurance.