Health Insurance Premium Changes Due To Obamacare

There is a March 2013 report coming to light, prepared jointly by the House Committee on Energy and Commerce, Majority Staff; the Senate Committee on Finance, Minority Staff; and the Senate Committee on Health, Education, Labor & Pensions, Minority Staff, titled The Price of Obamacare’s Broken Promises: Young Adults and Middle Class Families Set to Endure Higher Premiums and Unaffordable Coverage, and it’s available here.

There’s a lot of data in the eight-page report, but the money figure is this one:

Those were estimates last spring, and for two states, the estimates weren’t available.

As of last September, though, Forbes estimated Vermont as having premium increases ranging from 71% to 157%, depending on age, and New York having a rate decrease in the neighborhood of 40%.  Forbes also estimated that some 17 states would see premium decreases in at least one age/gender demographic; although with many of those seeing the decrease in only one or two such categories.

Since Obamacare went live nearly three months ago, customers—especially those who’ve had their policies canceled out from under them—are seeing just these increases, and they’re also seeing enormous increases in deductibles—the amount of out of pocket expenses that must be absorbed by the patient before an Obamacare policy kicks in to pay (for a Bronze plan) all of 60% of the patient’s expenses.  For that year.  That’s a really sick patient to have all those expenses before coverage kicks in.

Some deal, this Obamacare.

Why Is Delta Afraid?

Indeed.  Or, it’s just an abuse of market power?

Paulding County, GA, has an airport, Silver Comet Field, and Paulding wants to have a small air line operate all of four or five flights per day out of it.  Hartsfield-Jackson International Airport is 40 miles away, has five runways, 203 gates, and a 46 million passenger-per-year throughput.  Delta Airlines, which uses Hartsfield for its hub, is feeling so threatened by this dinky little airport that it’s doing everything it can to stifle Paulding’s “competition.”

Holden Shannon, a “senior executive” for Delta put an op-ed into the Atlanta Journal-Constitution worrying, with no irony, that

a second airport can quickly expand, and the impact on Hartsfield-Jackson would be significant.

This, though, is sort of the nature of free competition.  Is this what Delta fears?

Shannon also said competition from Paulding would “threaten Atlanta’s economy.”  But the only form the competition would take would be from price competition, making consumers better off.  Is Delta really so fragile that one more, dinky, entrant into the market will push it over the edge?  Is Delta that badly run?  Is that what Delta fears?

He also complained to the Paulding County Commission Chairman, bellyaching that Silver Comet Field’s plans supposedly were hatched in secrecy.  But he chose not to explain why a business is obligated to form its plans in full view of its competitors.

Shannon isn’t the only Delta executive with his knickers bunched, either.  Richard Anderson, Delta’s CEO, told the AJC that the planned commercial operation would be “an economic and community failure.”  Never mind that that’s not Anderson’s call—that’s for the market and the community to decide.  Is this what Delta fears—that the market will decide in favor of competition?

Hmm….