The withdrawal is related to Humana's pending merger with Aetna, whose 5.6% individual market rate hike for 2017 has already been approved. That's bad news for Aetna's ObamaCare members because those former Humana members whose health costs necessitated a $33.7% increase now want to join up with them or one of the other companies with a relatively healthier insured base.
And that means higher costs for everyone.
Underlying dramatically increasing health insurance premiums, of course, are similarly rising healthcare costs and they have been made worse by Kentucky's burdensome regulatory impact on the industry, specifically its certificate of need statutes, or CON. CON keeps prices artificially high by limiting competition between healthcare providers. Gov. Bevin should take to his bully pulpit to encourage legislators to get government out of the way on this key issue. Resistant legislative incumbents deserve to be replaced.
