Thursday, June 17, 2010

CalPERS health premiums to leap again; expect private industry to follow

The Sacramento Bee reports:
It's known as the Patient Protection and Affordable Care Act – and its title begs the question: Why are insurance rates continuing to climb?

On Wednesday, the California Public Employees' Retirement System approved an average increase of more than 9 percent in health premiums next year for its state and local government members.

Private industry is expected to face similar increases next year following years of rate hikes. For some people, including those buying insurance on their own, increases could jump well into the double digits.

Wasn't the health care overhaul supposed to do something about this?

Not anytime soon, experts say.

Great moments in ObamaCare.