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New tools in health insurance being used - rate hikes being protested

So, the next layer of the PPACA is starting to take effect.  There was not much notice today, but the first use of one of the price control provisions has just happened.

Average health insurance plan increases are running slightly less than 10%, but the long term trend has been clear.  The average premium for a family's employer-based health insurance in 2010 was nearly $14,000, which represents a 50% increase since 2003, according to a study from the Commonwealth Fund.

If the rate of growth continues, the average annual total premium for a family in 2020 could be nearly $24,000, according to the report. That total includes both what the employer and the employee pay
 

So, it was with some interest today that I read a story about the Feds getting involved in rate hikes.

Read the whole storyhere

It notes that officials at the Department of Health and Human Services said Monday that Everence Insurance Co.'s plan to raise rates by 12% next year on about 5,000 people who work for small businesses in Pennsylvania was "unreasonable." 

It will be interesting to see next stpes by both parties.  Stay tuned...

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