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Survey: US sees sharpest health insurance premium increases in years

 
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04/08/2014 06:26 PM
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Survey: US sees sharpest health insurance premium increases in years
Survey: US sees sharpest health insurance premium increases in years

Americans have recently been hit with some of the largest premium increases in years, according to a Morgan Stanley survey of insurance brokers.

The investment bank’s April survey of 148 brokers found that this quarter, the average premium increase for customers renewing an insurance plan is 12 percent in the small group market and 11 percent in the individual market, according to Forbes’ Scott Gottlieb.

The hikes — the largest in the past three years, according to Morgan Stanley’s quarterly reports — are “largely due to changes under the [Affordable Care Act],” analysts concluded. Rates have been growing increasingly fast throughout all of 2013, after a period of drops in 2012.

While insurers were hiking premiums since 2012 by smaller amounts, the lead-up to the Obamacare’s launch has seen the average rate at which premiums are growing fourfold.

The survey found that premium increases are due to several specific Obamacare policies. The most talked about may be the new benefits all insurance plans are required to offer and excise taxes targeted at insurers themselves, Forbes reports.

Read more: [link to dailycaller.com]





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