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.