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Posted: Sunday, 27 July 2014 4:54AM

Rate hikes coming for thousands who purchased ACA insurance



State Insurance Commissioner Jim Donelon says 60-percent of the Louisiana residents who purchased insurance through the marketplace created by the Affordable Care Act face a double-digit rate hike next year. Donelon says that's based on paperwork filed by the federal government with the state's insurance department.

"The question then becomes does the premium increase make it unaffordable again for them, even after they qualify for the subsidy."

Donelon says 101-thousand Louisiana residents have health care through the individual marketplace and they anticipate the average rate increase to be about 12 to 13 percent.
 
He says the double-digit rate hike is the result of a federal premium tax that's been placed on the policies and the rates have been capped for the elderly and least healthy.
 
"That's going to drive up cost for young and healthy policy holders."

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Topics : Business_FinanceSocial Issues
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Locations : Louisiana
People : Jim Donelon
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