Health Insurance Plans Scramble To Figure 2015 Rates
Written by Editor   
Wednesday, April 30, 2014 01:30 PM

With the results sure to affect politics as well as pocketbooks, health insurers are already preparing to raise rates next year for plans issued under the Affordable Care Act.

But their calculation about how much depends on their ability to predict how newly enrolled customers -- for whom little is known regarding health status and medical needs -- - will affect 2015 costs.

WellPoint, the biggest player in the online exchanges, is already talking about double-digit rate hikes for 2015.

"It is an actuarial nightmare to try to guess what you're going to get,"

Given the uncertainties that come with a major new social law, Independence Blue Cross believes the picture won't become fully clear until much later.  "We always viewed this as a 3-year plan," said Lobley. "We always thought there would be a lot of volatility in years one and two. We really thought 2016 would [bring] market stability in the individual market."

Source:  http://www.medpagetoday.com/Washington-Watch/Reform/45474