Insurance Execs: ObamaCare Premiums Set To Skyrocket

by JASmius

And right after the 2014 midterms, too - what a coincidence, huh?:

Health industry officials say ObamaCare premiums will likely double, and in some cases triple, in certain parts of the country next year, and announcements of rate hikes could come within months, potentially adding to the pressure on Democrats going into the midterm elections.

The botched rollout of the federal healthcare program, including its numerous delays and changes, is one of the chief reasons for impending hikes, officials told the Hill, as is the impact on insurers of Obamacare's new fees and regulatory restrictions.

"Everyone knows that the way the exchange has rolled out … is going to lead to higher costs," a senior insurance executive who requested anonymity told The Hill.

Another official told the Hill, "All these major delays on very significant portions of the law are going to change what it's going to cost."

Ah, but remember, these are "bad apple" insurers, so of course they're going to blame the Good Ship Obamapop for the premium-gouging they have in store for their hapless, captive clientele next year. 

Except, if that were the case, why would they be giving such an advance heads-up about it?  It's not like they have any elections to worry about, other than perhaps from their stockholders.  And before long that's going to mean Barack Obama anyway.  So I guess this really is on the Regime, one way or another.

Which means more illegal, unconstitutional "tweaks" and delays by Executive fiat, right?  Except they're part of what's causing O-Care premiums to explode.

Well, there are always direct price controls, yes?  Except that'll accelerate the "death spiral".  Which will be perfectly okay with O, and will save his putting hand all that arduous Executive decree signaturizing for more important activities.  Unless he gets shrimping elbow.

Besides, it's not like the death spiral will be long in coming anyway:

[T]he most significant cause of rate increases, officials say, is related to the administration's erroneous projections about the number of young healthy consumers who would enroll.

"Demographics matter a lot because they will help determine whether the health insurance market goes into a death spiral (or requires hefty federal subsidies to keep it from doing so),"  Megan McArdle writes in her column for Bloomberg View.

"Young healthy people, and a lot of them, are needed to keep the market stable and premiums low. As we head into the final few weeks, we have a pretty good idea of how many young healthy people there will be, and the answer is: a whole lot fewer than the healthcare wonks were expecting."

Just short of 40% fewer in terms of the 18-35 demographic.  And by illegally and unconstitutionally delaying the Individual Mandate for two and a half more years, O, unlike Thor, has thrown away his hammer.  Instead, he's relying upon his preternatural powers of oratorical persuasion and his vast popularity with young Americans who have almost entirely tuned him out:

The Obama administration has insisted that the rate of enrollment for the young would accelerate in the final weeks, and has orchestrated a major push to sign up young people before the March 31 deadline.

But McArdle points out that even in the unlikely event that "enrollment is truly massive," it still won't be enough.

Indeed.  Perhaps this is still another reason why for congressional Democrats, ObamaCare is inescapable as their Obamastein monster of a president.

Unless he retrieves his hammer.  All it'd take is a pen and a phone, after all.