WH: Obamacare is working
I’m not sure whether having fewer health insurers request double digit percent increases is something to celebrate. But at this point, any progress reducing the growth rate of healthcare costs is progress, as is having something that demonstrates that Obamacare is working.
I’m pretty sure the Republican party will be convinced to drop their opposition to Obamacare once they are presented with evidence that it is working. Ok, I made that last sentence up. When was the last time that facts swayed opinion within the Republican Party?
Here’s the details (ht Mark Thoma):
The number of double-digit rate increases requested by health insurers has plummeted over the past four years, according to a Friday report from the Obama administration.
Researchers combed through data available from the 15 states that publicly post all requests for rate increases in the individual market. They found that, in 2009, 74 percent of all requests came in above 10 percent. By 2012, that number had fallen to 35 percent. Preliminary data for 2013, which only cover a handful of states, shows 14 percent of rate increases asking for a double-digit bump. Here’s what this looks like in chart form: