More Bad News For Philadelphia: Obamacare Premiums Set To Soar More Than 50%

Tyler Durden's picture

Yesterday the Obama administration confirmed what many Americans already knew: the monetary pressures imposed by Obamacare on the middle class are becoming unmanageable as a result of the average Obamacare premium set to spike by 25%, or hundreds of dollars of formerly disposable income that will be redirected to what is effectively a tax. However, in some states - especially those where the so-called recovery has failed to keep pace - such as Pennsylvania, the sticker shock will be far greater.

As CBS Philadelphia reports, when the Affordable Care Act open enrollment period begins next week customers will see some changes, including fewer choices and higher prices. In Pennsylvania, the number of insurers in the marketplace has gone from 13 to eight.

But the worst fate is set to befall the city that famously booed Santa Claus, Philadelphia, where CBS reports that just two insurers are left and premiums are expected to rise 53%.

Aviva Aron-Dine of Health and Human Services says the size of the hike reflects artificially low rates early on. Pennsylvania had among the lowest rates in the nation. “Issuers were pricing for a completely new market, one where they could no longer exclude those with the most serious health needs,” she said, “many set prices that turned out to be too low.”

To be sure, the administration had to spin this dramatic surge in a way that does not upset the locals, and did just that when Aron-Dine said that "the plans are still affordable, since three-quarters of Pennsylvanians qualify for tax credits."

“Not only do tax credits bring down the cost of coverage, they adjust dollar for dollar with the cost of the benchmark plan in your area,” she explained. “So even if the cost of benchmark coverage goes up, most consumers will not have to pay more. Aron-Dine claims costs could even go down if consumers take the time to shop for a cheaper plan. She says new features on the healthcare.gov website will make that easier to do.

It remains to be seen if any of the locals will accept this rationalization for soaring prices when they start getting invoices demanding hundreds of dollars more each month. As a reminder, Pennsylvania is one of the critical swing states which in recent weeks has been polling in Hillary Clinton's favor: it just may be that this "sticker shock" will flip the tables once again.

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Mena Arkansas's picture

Obamacare premiums appear to be the least of your problems in Philadelphia.

Hundreds of Philly Blacks Launch Pogrom Against White Temple University Kids

https://www.youtube.com/watch?v=4WOwSYTNB04

CheapBastard's picture

Sounds like all of you are going to enjoy Hillary's "Reparation Tax" on white people.

MalteseFalcon's picture

"the plans are still affordable, since three-quarters of Pennsylvanians qualify for tax credits."

Obamacare is laden with subsidies besides tax credits.

For example, there is a comprehensive list of coverages that many people do not need, but must pay for.

The plan is designed to serve typical Democratic party voters.

But even with that, affordability is becoming an issue for them as well.

NoDebt's picture

"But the worst fate is set to befall the city that famously booed Santa Claus"

Hey, we didn't just boo him, we threw batteries at him, too.  Get it straight!  (Trust me, the guy had it coming.)

(Tyler, please make coverage of Philadelphia's downfall a regular thing, like Gartman's idiotic market calls.  I guarantee you won't be disappointed.  Chicago's not NOTHIN' on Philly in terms of corruption and one-party-town politics.)

Did you hear that PA just sent their Attorney General, Kathleen Kane, to jail for 10-23 months yesterday?  Probably not, didn't make the national news.  She was a Hillary acolyte, BTW.  Most uplifting news story of the whole day, in my opinion.

monad's picture

It was paid already. Its called Liberia. The Holohoax was paid too - in advance(who could have seen * coming?). That one is called Israel.

Nemontel's picture

Lets hope the EROI collapse of Oil will finish off the Fiat System completely. http://www.truthjustice.net/economy/gail-tverberg-why-theres-no-economic...

pods's picture

I just clicked that and then watched another news report of this. Achor said hundreds of "children."  We are fucked if they cannot even call a spade a spade. Oops.

pods

CheapBastard's picture
Berkeley Protesters Demand 'Spaces Of Color,' Harass White Students Trying To Pass

 

http://www.foxnews.com/us/2016/10/24/berkeley-protesters-demand-spaces-c...

 

Californikator liberals get results; hopefully, those BLM thugs don't beat them up the honkey Berkley students too bad.

pods's picture

Time to start shooting in Berkeley.  Cesspool.

pods

Stu Elsample's picture

If Obama's sons threaten you and act irate...calm 'em down with .308

Occams_Chainsaw's picture

If only everyone would just bail out and let the damn thing collapse.

max2205's picture

too late to enrage the masses.... FSA party on!

AC_Doctor's picture

But, but, but, the Brown Clown said I could keep my plan and doctor and it would save me over $3000.

In reality, my premiums have more than doubled from then.  Fuck to all who voted for this POS, included Judge Roberts.

BlackSun59's picture

I'll bet your deductibles and co-pays went up, too. Fuckers!

The Duke of New York A No.1's picture

Is that all ... just a measly 50% ... the mafia must be feeling generous lately.

TruthHunter's picture

MD stands for mafia Don?  We live in a Kleptocracy, now.

We recently got a quote on a tooth extraction for my mother-in-law. We could buy two round trips to PR, do the extraction and still

have money left over. 

It's perhaps time to substitute fear for greed as a prime motivator. Is there anyone in the 

military that is both popular and fed up?

wildbad's picture

thank god that''s not happening in Philly

Soul Glow's picture

But at least everyone can go to a Dr so they can be told, "Yes, you're right, you're sick.  Here is a drug that will dull your pain but won't help you get better.  Now for your co-pay, come again."

Stu Elsample's picture

Philly is 90% useless freeloading welfare chimps who don't care about medical insurance rates (their medical care is free). The rest are other Democrat voters who need to eat the shit sandwich that they voted for.

wow thats crazy's picture

Hey! does anybody know where

Phiadelphia is?
Kaiser Sousa's picture

"SURPRISE!!!"

 - Your Government -

Johnny Caine's picture

I'd like to meet the fucktards that thought this wouldn't happen... wait... okay I found them on MSNBC

Stanelli's picture

Welcome your creeping socialism. That's exactly what it is folks.

americafirst's picture

Dems will just blame the premium cost increases on Republicans without any evidence whatsoever. It's what they do.

floomby's picture

They already have a reason lined up - it isn't single payer. "The insurance businesses are scalping you. Let the government run the whole thing and it will be better." If you are a bit conspiratorial then you might believe that Obamacare was designed to fail, making the insurance execs rich and then pave the way to single payer. Esencialy a buy off of the insurance industry by the government.

Bay Area Guy's picture

Boy are you on target with that.  Our local rag had comments that talked about the evil Republican insurance companies.  I attempted to indicate that perhaps the ACA was funadmentally flawed from an insurance perspective (too few low cost, healthy insureds and far too many high cost, sick insureds) for it to work.  Nope, got told the law was fine and that it was the evll Republican insurance companies' fault that premiums were going up.  I tried one last time by noting that the insurance companies helped to write the bill.  No response to that one.

In the Bay Area, it isn't Kool Aid that these people drink.  It's full on purple drank laced with extra coedine.

Anopheles's picture

How can the stupid middle class even consider voting for Hillery.  She's ALREADY promised to RAISE TAXES.  Oh, but she says she will "tax the rich".  

Hahahahahahahha    What the sheeple don't realize is that her definition of "RICH" includes everyone who HAS ANY KIND OF JOB.  

You own a house or any assets?  You're doubly fracked. 

silverer's picture

You are absolutely dead on regarding that one. If you have any money at all, you are RICH, and need to be TAXED some MORE!

Anopheles's picture

New simplified tax return.

 

1.  How much did you earn _______________

2.  Send it to us.  

stocker84's picture

Tyler, it's called a spellchecker...look into it.

 

More Bad News For Phiadelphia: Obamacare Premiums Set To Soar More Than 50%

 

 

 

 

 

 

 

 

 

 

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silverer's picture

People in Philadelphia never spelled it right anyway. Look how they vote.

cheech_wizard's picture

@POTUS There is only one way to save your legacy at this point. Repeal Obamacare with an executive order.

Standard Disclaimer: Tweet & Retweet:  Tweet lost his doctor. Who kept his? Retweet... (Arggg, just shoot me now...)

 

rejected's picture

Not exactly the free shit everyone was hoping for eh?

Yea, the working idiots will pay the premiums but it's the deductables that is killing them.

Guess the one or two productive persons left in the nation will have to cover that as well.

NYPoke's picture

"the plans are still affordable, since three-quarters of Pennsylvanians qualify for tax credits."

 

That means 3/4s of Pennsylvanians ARE POOR.

TruthHunter's picture

That means 3/4s of Pennsylvanians ARE POOR.

24% of what's left aren't rich; they're just screwed.

Nobodys Home's picture

More Bad News for Pedophiles? WTF? ...I need to slow down my Sped Reding!

KimAsa's picture

If you don't like your money, you don't have to keep it. Just keep working that's all.

Bam_Man's picture

Blame it on Putin.

Puncher75's picture

I left that dump last year.  It's a left wing hell hole.  ENJOY your dog food Philly!!  No complaints now, YOU VOTED FOR IT, you got it!!

silverer's picture

Hahahahahahahahahahahahahaha!
You VOTED for it! Then you voted for it AGAIN! Stupid asses.

1stepcloser's picture

Never trust a Kenyan

-Barry!

DrNybble's picture

Unfortunately, the liberal's idea of a fix to this partial government control of the healthcare system is for MORE government control with the so-called "public option". Always MORE control and never LESS.

rockstone's picture

Die in the streets like the dogs that you are Pennsylvania.