So much (to pound the dead horse) for rates going down $2,500 per, courtesy of Obamacare.
The research team at investment bank Morgan Stanley surveyed 131 brokers, finding that December 2013 rates are rising in excess of 6% in the small group market, and 9% in the individual market.
But that’s just chump change, so far (except for the victims of the rise).
[H]ealth plans are also predicting higher cost trends in 2014, after years of stabilization (much of it attributable to the economic downturn [and its long-term non-recovery, say I], which reduced medical utilization rates).
Among the states seeing the highest annualized rate hikes (for the full 2013 year) in the individual market are Connecticut, which is averaging a 37% increase; Florida (42%); Illinois (33%); Michigan (39%); and Minnesota (35%).
Among the states with the biggest annualized spike in the small group rates are Delaware, which is averaging a 35% increase; Michigan (30%); and Minnesota (50%).
It’s interesting, too, to note that these are some of the most tightly regulated states; their regulations (now superseded by Obamacare regulations) greatly suppressed health “insurance” rates.