Medical Claims Costs to Rise 32% by 2017 Under Obamacare, Jump at Least 60% in Seven States
As the provisions of the Affordable Care Act or Obamacare begin to be implemented, it appears that consumers could see their insurance rates rise dramatically over the next few years.
A study by the Society of Actuaries estimates that nationally, the cost of medical claims will rise by an average of 32% per person by 2017. However, the rate increases in some states will be far steeper. Below is a list of some of the states where costs are expected to rise the most by 2017:
Seven states will see claim costs rise at least sixty percent by 2017:
- Ohio: 81% Increase
- Wisconsin: 80% Increase
- Indiana: 68% Increase
- Maryland: 67% Increase
- California: 62% Increase
- Idaho: 62%
- Alabama: 60%
Of the 50 states, only Vermont, Rhode Island, New York, New Jersey and Massachusetts expect insurance rates to decrease for individual consumers.