Health insurance companies want to raise rates by 56% in Michigan, 24% in Connecticut, 23% in Maine and 20% in Oregon. The Washington Post says this morning that Washington area residents also are being notified of premium hikes of as much as 40%.
It currently costs each employer about $11,000 per year per employee to provide health insurance. In 2019, it will cost $28,000. However, this number does not take into account the individual/freelance health insurance market that will undoubtedly skyrocket way out of control. Individuals who have very little to no collective bargaining power against legalized monopolies like the health insurance companies can expect to be slammed with rate increases as these monopolies see fit. And the real kicker– are the feds going to mandate us to purchase policies from legal monopolies?
That’s a grave mistake.