PROPOSED PREMIUM RATES WILL DISPROPORTIONATELY IMPACT SMALL BUSINESS
DOVER
(June 10, 2016): As Department of Insurance hearings begin this month regarding
double-digit proposed rate increases by health insurance companies, The
National Federation of Independent Business (NFIB) is encouraging those that
may be impacted to use the opportunity to share their concerns regarding the
steep hikes that will no doubt have an across the board impact on small
business owners and their employees if implemented.
“Health insurance companies are now
suggesting rate increases that are astronomical in an attempt to sustain their
participation in the state’s Obamacare marketplace. The problem for small
business owners is the year to year unpredictability of premiums hinders
employers from hiring and leads to fiscal uncertainty,” said NFIB Delaware
state director, Mike O’Halloran. “When the Affordable Care Act was passed, the
small business community was repeatedly assured that insurance premiums would
not skyrocket, but this year’s proposed premium rates are yet another
indication that healthcare costs have yet to stabilize, even all these years
later.”
Highmark
Blue Cross Blue Shield of Delaware, Aetna Inc. and Aetna Life have all
requested premium rate increases that vary from 24.2 percent to 35.8 percent.
The most dramatic of the increases originate from the individual market, where
41% of business owners purchase their health insurance.
“Our
members are consistently citing healthcare costs as one of their greatest
concerns. The hearings taking place this month will allow them to publically
address their issues and we certainly encourage anyone that will be impacted by
the rate change to participate in the discussion. Small business owners and
their employees have been struggling with complying with the Affordable Care
Act since its inception. Judging by this latest news, that will not be changing
anytime soon,” concluded O’Halloran.
