With Congress sitting on their asses and failing to get a Health care plan worked out because the Democratic lost their majority, individual who buy their own health insurance are facing a huge rate increase in at least four states.
Blue Cross has announced or has notified some of its 800,000 individual policyholders in California that it plans to raise their rates by up to 39 percent on March 1, 2010.
Blue Cross has also elected to raise the rates of their consumers in Maine up to 32 percent.
Individuals in Kansas and Oregon will also face rate increases in varying amounts.
Premiums are far more volatile for individual policies than for those bought by employers and other large groups, which have bargaining clout and a sizable pool of people among which to spread risk. As more people have lost jobs, many who are healthy have decided to go without health insurance or get a bare-bones, high-deductible policy, reducing the amount of premiums insurers receive.
Its fucking crazy what these insurance companies are allowed to do especially in such hard economic times. Who these days can afford to survive much less pay for their insurance policy.