Obamacare Premiums to Skyrocket

Health insurance premiums will soar during the coming months, right as the 2014 election season gets underway, as insurers grapple with the failed rollout of Obamacare, according to an explosive article in The Hill.

Insurance industry officials tell the newspaper that premiums will double in some parts of the country, harming Democrats’ chances and hampering the next round of enrollment efforts in 2015.

The worries from the industry come less than a week after HHS Secretary Sebelius downplayed the problem, telling Capitol Hill that increases would grow more slowly than in the past.

From the piece:

“The increases are far less significant than what they were prior to the Affordable Care Act,” the secretary said in testimony before the House Ways and Means Committee.

Her comment baffled insurance officials, who said it runs counter to the industry’s consensus about next year.

“It’s pretty shortsighted because I think everybody knows that the way the exchange has rolled out … is going to lead to higher costs,” said one senior insurance executive who requested anonymity.