Insurers, Citing Obamacare Costs, Seek Rate Hikes Up to 50 Percent

Health insurance providers nationwide are requesting massive rate increases for the coming year, including a 50 percent jump proposed by one of New Mexico’s biggest carriers, according to The Hill.

The White House on Monday posted health insurers’ proposed rate increases for the coming year. Obamacare mandates that all requested increases above 10 percent be posted online by June 1, at which point negotiations begin between insurers and regulators.

The final rates must be locked by November.

A representative with the Kaiser Family Foundation tells The Hill that most of the increases are somewhere around 15 percent to 20 percent, but in addition to New Mexico, big jumps are requested by Tennessee’s biggest insurer — 36 percent for some plans — and Maryland, whose most popular insurance carrier is seeking a 30 percent hike.

Connecticut is asking for a 10 percent jump, while New York’s market leader wants 12 percent more.