GPB News reports that Georgia Insurance Commissioner Ralph Hudgens said some insurance companies have filed plans to increase insurance rates under the Affordable Care Act - in some cases by almost 200 percent. Hudgens said he sent a letter to Kathleen Sebelius, secretary of Health and Human Services, asking for a 30-day delay of submission in order to review the projected increases. However, after not getting a reply from the secretary, he went ahead and accepted the rates as submitted. The deadline was July 31, 2013.
According to the GPB report, Hudgens said companies choosing to offer health insurance to people who don’t currently have it claim the potential rate increases are justified. The increases are likely to impact up to 25 percent of Georgians. Likely to be most hard hit – those who are self-employed or own small businesses. Hudgens said he is asking the White House and Congress to either repeal or delay implementation of the law.
What kind of an impact do you think it will have if insurance premiums more than double on small business owners and the self-employed?