California Projects Very Modest Obamacare Rate Hikes in 2015


Good news from the Golden State!

Defying an industry trend of double-digit rate hikes, California officials said the more than 1.2 million consumers in the state-run Obamacare insurance exchange can expect modest price increases of 4.2% on average next year.

….”We have changed the trend in healthcare costs,” said Peter Lee, Covered California’s executive director. “This is good news for Californians.”….State officials and insurers credited the strong turnout during the first six-month enrollment window that ended in April for helping to keep 2015 rates in check.

It’s still early days for Obamacare, and it’s not yet clear if it deserves credit for keeping California’s rate hikes low. It may instead be due to the recent slow growth of medical costs nationally. Nonetheless, this is a very positive sign. California is a big market, and it’s one that’s traditionally seen steep rate hikes in the individual insurance market. At the very least, we can certainly say that conservative predictions of catastrophically high rate increases thanks to Obamacare have turned out to be groundless. Again.

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DEMOCRACY DOES NOT EXIST...

without free and fair elections, a vigorous free press, and engaged citizens to reclaim power from those who abuse it.

In this election year unlike any other—against a backdrop of a pandemic, an economic crisis, racial reckoning, and so much daily bluster—Mother Jones' journalism is driven by one simple question: Will America move closer to, or further from, justice and equity in the years to come?

If you're able to, please join us in this mission with a donation today. Our reporting right now is focused on voting rights and election security, corruption, disinformation, racial and gender equity, and the climate crisis. We can’t do it without the support of readers like you, and we need to give it everything we've got between now and November. Thank you.

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