After pounding the Idaho Legislature to adopt ObamaCare, Blue Cross of Idaho announced last week that it will seek permission to raise premiums by a staggering 25% next year – with some plans increasing by as much as 31%. In a single year!
It isn’t like Blue Cross has been avoiding substantial rate hikes over recent years. It isn’t like we are living in the days of Jimmy Carter – when “stagflation” nearly broke the American economy. And it isn’t like Blue Cross’ customer base has shrunk under the mandatory provisions of ObamaCare.
These kind of insurance rate increases are simply not sustainable.
Idaho families and businesses are about to get a double whammy: Not only will their direct bills from Blue Cross increase, but, as taxpayers, we will be watching every level of Idaho government scramble to find the extra millions to pad Blue Cross’ reserves as they try to provide coverage for public employees.
Of course, Blue Cross is not the only villain in this story. And corporate greed at their palatial headquarters in Meridian is not the only explanation for these staggering increases in insurance rates. Much of this pending crisis goes back to the irrational demands of ObamaCare itself. (But, then again, the insurance industry was up to its throat in the conspiracy to impose ObamaCare upon America).
Another prime culprit in this outrage is the medical industry itself. Endless expansion and empire-building is being conducted by the big hospital conglomerates around Idaho – exemplified by St. Luke’s. All of those cool, shiny buildings and take-overs have to be paid for by someone. And it won’t be the shareholders in these health care behemoths
That will fall to the poor, largely silent working stiffs and taxpayers of Idaho.
Blue Cross’ demand for a 25% rate hike next year is pending before the Insurance Commission, which is now led by Sen. Dean Cameron. Cameron was the principal legislative architect of the state insurance exchange during his time in the Senate. He was a primary cheerleader for the plan to accept ObamaCare in Idaho. It will be very interesting to see what he does, if anything, to impose some economic reality on his friends at Blue Cross and Regence Blue Shield.
If Cameron fails to stop the insanity, we predict there will be tremendous political fall-out as the working stiffs of Idaho finally rebel against a grossly corrupt system teetering on implosion.