Covered California: Masters of Deception
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I really have not been paying much attention to Obamacare in California. They were pitching how they signed up zillions of people. We have yet to find out whether those enrollees have paid their premiums, are income qualified or are in America legally. But they were proud as peacocks about their results. Then they made an announcement which knocked my socks off.
To quote their website, “The vast majority of Covered California consumers will see low increases in their health insurance premiums for 2015, and many consumers will see no increase or even a decrease. The statewide weighted average came in at 4.2 percent, with some plans offering weighted average rates that are 8.5 percent lower than current pricing.” Wow, that is impressive. How are they getting that done?
Soon after that Florida announced their planned increases for 2015. The Office of Insurance Regulation announced Floridians who buy health insurance on the individual market for 2015 will face an average increase of 13.2 percent in their monthly premiums.
That is a staggering difference. A lot of people like to refer to it as Flor-i-DAH, but that could not explain this difference. And… Read More