Friday, March 07, 2014

KY ObamaCare devastates Anthem Health Plans

Anthem expected to provide twelve months of health insurance coverage to more than 172,000 ObamaCare plan purchasing Kentuckians in 2014 at an average monthly premium of $342.25, according to a filing with the Kentucky Department of Insurance obtained through an open records request. They were only off by about 96%.

Anthem has sold fewer than 7100 ObamaCare policies on the Kentucky "exchange" since October 1, 2013, according to Governor Steve Beshear, and only three weeks remain in the 2014 ObamaCare open enrollment.

"The individual market is expected to grow by approximately forty percent," said Carmen Laudenschlager of Anthem in an email dated August 16, 2013. "Additionally, many of the healthiest members in the current Individual market are likely to drop coverage in 2014, due to rate shock. These shifts would bring the expected Individual morbidity in 2014 more in line with the current Small Group experience.

Hope Carmen's job didn't depend on that little prediction. Anthem has been the largest individual health insurer in Kentucky for many years.