CBS News: Many Hit With Obamacare Sticker Shock – Guy Benson

Ugly numbers are cropping up across the country, from Minnesota to Arizona to South Dakota.  The story profiles an accountant from Oklahoma whose premiums are jumping by $600 per month over last years rates, a 66 percent increase. In all, CBS reports, he could end up paying roughly $20,000 for healthcare coverage in 2016. “The first job when I got out of school was $16,500,” he told the network. “You know thats a lot of money.”  The administrations own projections predict weak enrollment growth during the current sign-up period, for reasons weve addressed previously: “The uninsured people most eager to enroll, predictably, were older, sicker consumers, many with pre-existing conditions. This phenomenon has produced a risk pool thats more expensive to cover — without the needed legions of younger, healthier enrollees in the mix to defray and absorb those increases. Thus, the coming rate shock that will accompany rising out-of-pocket costs for consumers within both the individual and employer-based markets.”  That last link is particularly important, as it illustrates the rising costs for Americans who werent among the millions who lost their existing plans under Obamacare.  The top barrier to entry for uninsured Americans remains lack of affordability.  Meanwhile, Utah and Arizona have joined the parade of Obamacare co-op failures last week — becoming the tenth and eleventh such program to shut down.  On another front, industry experts are raising concerns about Obamacares ongoing access issues:

Source: CBS News: Many Hit With Obamacare Sticker Shock – Guy Benson