Wednesday, August 23, 2017

Buh-bye, Gramps (And More)

We've noted previously that it was only a matter of time before grandfathered (and grandmothered) health insurance plans would begin to be phased out. Now (thanks to FoIB Jeff M) comes the first confirmation of the impending slaughter:

"50,000 BCBSNC grandfathered customers will have to switch to ACA plans"

The Tar Heel State's Blue Cross affiliate notes that since the pool's been closed to newcomers for 7 years now, it's getting a bit, well, rank:

"[T]he group as a whole has gotten older and sicker ...That means they have also become more expensive to insure."

We in the biz even have a term for this: Death Spiral.

So what kinds of plans do these folks have to look forward to?

Well, since you asked.

Related: FoIB Scott M tips us to news from The Hawkeye State. The good news is that there's no apparent move afoot to scuttle grandfathered plans.


On the other hand, perhaps this message isn't exactly subtle:

"Iowa's only ObamaCare insurer seeks 57 percent rate increase"

Uh-oh, looks like someoene missed the memo.

Someone please remind me: what's that first "A" in PPACA stand for?
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