• Indiana exchange rates look high – UPDATED

    Obviously, I’ve got a an interest in this that goes beyond professional:

    Insurance rates in Indiana will increase 72 percent for those with individual plans and 8 percent for small group plans under President Barack Obama’s healthcare overhaul, according to the state’s insurance department.

    The spike in costs is due primarily to new mandates under the law, which requires insurers to cover those with pre-existing conditions and to offer a minimum level of benefits, said Logan Harrison, chief deputy commissioner with the Indiana Department of Insurance under Republican Gov. Mike Pence. New taxes and fees under the law also contributed, Harrison said…

    Costs for individual plans is expected to increase from an average of $255 per member per month in 2012 to $570 in 2014, when the most aspects of the law go into effect.

    That’s way high. As Sarah Kliff reported yesterday, most states are seeing rates far below that:

    obamacare-premiumsSo what’s the deal in Indiana? Anyone know why this is?

    @aaronecarroll

    UPDATE: Tony Cook, who wrote the article above, sent me the following tweet:

    If that’s the case, then it’s artificially high. While the other states are showing premiums for silver plans, the Indiana number includes gold and platinum plans as well.

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    • Is this possibly because of the refusal of Gov. Pence to participate in the Medicaid expansion? I am unaware if the other states in the graph participated, though I know NY and California have.

    • Things are not looking good in Indiana!

      This on top of Purdue getting hit for $2.8 million in increases in healthcare costs – a bit over $1,000 for each of its 27,000 employees per year.

      Wanna bet on how many adjuncts get to work over 30 hours a week…

    • That “weighted by expected 2014 individual market age” vs, the cost of an average individual plan may explain some of it.