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Thanx Obama!

From the link:

State regulators have approved an average rate increase of 36 percent for individual plans offered by Blue Cross Blue Shield of Alabama on the federal exchange.

The approved rates are slightly lower than the 39 percent average increase Blue Cross requested in the summer. It is the second straight year of double-digit increases for Blue Cross plans offered on the exchange. Last year, the company increased rates by an average of 28 percent for individual plans.

Bronze plans, which offer the least coverage, will increase by 20 to 23 percent. Silver and gold plans will increase from 32 to 38 percent. The company does not offer platinum-level plans in Alabama.

The increases follow substantial losses on individual plans. The company said it spent more money on medical costs for those enrollees than it took in from premiums and other payments. Blue Cross officials expect to lose more money on individual plans this year. 

 

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