Here Comes The ObamaCare Rate Increases!

Anthem Blue Cross and Blue Shield in Connecticut, by far the largest insurer of Connecticut residents, said in a letter that it expects the federal health reform law to increase rates by as much as 22.9 percent for just a single provision — removing annual spending caps. The mandate to provide benefits to children regardless of pre-existing conditions will raise premiums by 4.8 percent, Anthem said in the letter. Mandated preventive care with no deductibles would raise rates by as much as 8.5 percent, Anthem said,0,5611833.story

Editor’s Note: Not to worry……………if the rate increase is too high, and the loss ratio is less than 85%, Blue Cross will have to rebate the difference back to the insureds – Minimum Loss Ratio Requirement to kick in January 1, 2011.