Even In Over-Regulated Washington State, Obamacare Will Increase Individual Health Insurance Premiums By 34-80%
For all the talk about rate shock—next year’s Obamacare-induced spike in health insurance prices—there are a few states where you’d think rate shock shouldn’t happen. In Maine, New Jersey, New York, Vermont, and Washington, insurance markets are already regulated in much the same way that Obamacare will. These states force insurers to cover everyone, despite pre-existing conditions, and they oblige carriers to charge similar rates to younger and older customers. Despite these factors, it turns out that in Washington state, Obamacare will still increase the underlying cost of individually purchased health insurance by 34 to 80 percent, on average.