Folks, I feel our goose is cooked.
Insurers predict 100%-400% Obamacare rate explosion
Internal cost estimates from 17 of the nation's largest insurance companies indicate that health insurance premiums will grow an average of 100 percent under Obamacare, and that some will soar more than 400 percent, crushing the administration's goal of affordability.New regulations, policies, taxes, fees and mandates are the reason for the unexpected "rate shock," according to the House Energy and Commerce Committee, which released a report Monday based on internal documents provided by the insurance companies. The 17 companies include Aetna, Blue Cross Blue Shield and Kaiser Foundation.
The report found that individuals will face "premium increases of nearly 100 percent on average, with potential highs eclipsing 400 percent. Meanwhile, small businesses can expect average premium increases in the small group market of up to 50 percent, with potential highs over 100 percent."
One company said that new participants in the individual market could see a premium increase of 413 percent when new requirements on age rating and required benefits are taken into account, said the report. "The average yearly cost for a new customer in the individual market grows from $1,896 to $3,708 -- a $1,812 cost increase," it added.
The key reasons for the surge in premiums include providing wider services than people are now paying for and adding less healthy people to the roles of insured, said the report.
It concluded: "Despite promises that the law will lower costs, [Obamacare] will in fact cause the premiums of many Americans to spike substantially. The broken promises are numerous, and the empirical data reveal that many Americans, from recent college graduates to older adults, will not be able to afford the law's higher costs."
So just a thought, I think the real tribulations begin or occur, somewhere in 2020-2024. This is in one sense, just a 'hunch' based on a number of things, but, one of the reasons this makes sense to me is that I think the economy is going to recover for a brief period, due to the massive amounts of U.S. shale oil and U.S. natural gas that has been discovered and is coming online, as I write. i think this surge- a final 'telestial energy surge,' and the biggest ever in the U.S. may likely mask the dilution of our money supply and inflation for a while. It will prop up our economy and then. it will bust. *Certainly, I am literally trying to prepare as if things are happening tomorrow, and get up to speed as soon as possible, but some personal things i have felt seem to indicate, we have a few more years before things get really rough, though since they are personal, I can't really pass them on as.. evidence for others...one though is that is seems odd for the Church to increase the # of missionaries by lowering the age, and not get the maximum benefit out of that age-lowering in terms of years of this generations young elders and sisters, before the tribulations. On the assumption that this is a divinely inspired move, I would think that the Prophet would be led to get the timing right on it, to maximize the benefit in terms of the most numbers of missionaries. Another thing in addition to the US oil and natural gas surge, is that Elder Ballard, said in a recent address that as he prayed to know what to share, he said to share a message of peace, he then said that he felt that the economy would recover for a while, but that he didn't know for how long... The oil and natural gas would support the economy so that the Saints can afford to send out their sons and daughters on missions, ... and then just when the economy seems great, and the U.S. thinks they have crafted the model country, the economy will tank in a single day...just some eclectic thoughts brought together...
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