Obamacare Shoots Premiums up to 88% in California

Obamacare Shoots Premium up to 88% in California



Thanks to Obamacare, insurance premiums for California residents will rise between 22 and 88 percent, according to the state insurance commissioner.  Democratic Insurance Commissioner Dave Jones is using those issues to press for more regulatory control upon the industry.  Jones is pressing for a Proposition 45 to be on the state's ballot in November which would allow his office to clamp down on insurance hikes in the state.  Jones stated that unless Proposition 45 is passed or unless some other law is enacted to regulate the rates and the requirement that HMO's and health insurers justify their rates, then California residents could see high year-to-year rate increases.  These rate increases will go into effect in 2015.  Click on the above link from WashingtonTimes.com to read the story.