Caught in the Crosshairs: Affordable Care Act Policy Rate Increases

Back during the 2008 election campaign and in the lead up to the passing of the Affordable Care Act, it was constantly fed to the American people by supporters of the law that the average American would save $2600 per year due to the passage of health care reform.

affordable care act impacts trojan labor customers

Health Insurance Premiums on the Rise

Another famous claim—later shown to be demonstrably false—was that if you liked your current policy that you could keep it.

As most recall, at the end of 2013 the President unilaterally altered the law to delay implementation of certain requirements of the law, including one that allowed “inferior” policies to be renewed for one more year.

We have all heard horror stories of people with cancer losing their policies or massive price increases.

While I never disbelieved the accounts, I never personally knew anyone caught in the crosshairs, so to speak.

Well, this week, it proved to be me in the crosshairs.

I received a notice from my insurance company informing me that my policy was non-compliant with the diktats of our government and thus was being cancelled.

The company was happy to sell me new, government-sanctioned coverage.

The catch?  My rates are to go up $399 per month or 54% from what they are now.  Maybe I am not average.  Or maybe we weren’t told the truth.

 

About the Author:

This blog post was written by Richard Hermanns, CEO of Trojan Labor and Acrux Staffing.

 

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Job Market Update: October

This month, we saw an overall jobs growth of 248,000. This is compared to an overall growth of 142,000 last month. Unemployment declined 0.2% (6.1% to 5.9%).

In individual industries, professional and business sectors grew by 81,000 jobs (which was the largest gain). Retail trade rose by 35,000. Health care added 23,000 jobs

The job market is always changing. If you are in need of some extra help without the costs associated with hiring a permanent employee, be sure to contact your local Trojan Labor office.