This question comes from a GT reader: Could you speak about the problem of rising costs of health insurance premiums, such as Blue Shield’s upcoming 30 percent rate hike, and what, if anything, new healthcare legislation does to address it?
I want to thank the GT reader for submitting this question, and I hope it can provide valuable information to others concerned with this important issue. After the Affordable Care Act was signed by the President in March 2010, it set off a gradual implementation of the new healthcare reforms. Even though I feel the law has room for improvement, I do believe the ACA—once fully implemented—will see the cost of health care go down and access increased for people lacking quality health care.
I understand that in response to the health case reforms, some folks have unfortunately seen their health care costs and premiums increase. First, let me say that there is nothing in this law that requires an increase in premiums. Much to the contrary, Democrats worked hard to pass a bill that would constrain premium increases.