Insurers predict hike in premiums next year - WRCBtv.com | Chattanooga News, Weather & Sports

Working Together For You

Insurers predict hike in premiums next year

Posted: Updated:
BlueCross BlueShield of Tennessee headquarters in Chattanooga. Photo by Dan Henry/Times Free Press BlueCross BlueShield of Tennessee headquarters in Chattanooga. Photo by Dan Henry/Times Free Press

CHATTANOOGA, TN (Times Free Press) -- Health insurance premiums for individual policies will jump by more than 30 percent and small businesses will face double-digit rate hikes for their health plans next year when most of the health care reform known as ObamaCare becomes effective, insurers and actuaries estimated Tuesday.

"There is going to be a rate shock for a lot of people," said Bill Gracey, president of BlueCross BlueShield of Tennessee, the state's biggest health insurer.

"Unfortunately, our young and healthy people may opt out of coverage because their rates are about to go way up -- as much as 62 percent for some healthy, younger males," he said.

The health care reform plan signed into law three years ago last Thursday will broaden health care coverage by expanding Medicaid, creating new health insurance exchanges, offering subsidies for low- and middle-income families and expanding many benefit packages beyond what existing plans cover. Analysts project 32 million more Americans should get health insurance under ObamaCare, which backers claim should help both patients and providers.

Read more from our news partners at the Chattanooga Times Free Press.

Powered by WorldNow
Can't find what you're looking for?

WRCB-TV
900 Whitehall Road
Chattanooga, TN 37405
(423) 267-5412

WRCB Jobs EEO | FCC Public Files

Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and WRCB. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.