07.10.17

Senators Isakson, Perdue: Health Insurance Rate Increase Further Evidence Obamacare Failing, Replacement Needed

WASHINGTON, D.C. – U.S. Senators Johnny Isakson (R-GA) and David Perdue (R-GA) again highlighted the high costs facing Georgians under Obamacare, citing additional evidence that a replacement is urgently needed to give Americans affordable, accessible health care choices.

Filings released by the Georgia Department of Insurance last week show that insurance carriers are seeking to increase rates for 2018, in some cases by more than 40 percent. These increases would come on top of an average 106 percent premium increase for Georgia since 2013, the last year before Obamacare took effect, according to data from the U.S. Department of Health and Human Services.

“Georgians are already hurting from the effects of Obamacare, and this news is further proof that this law is failing Georgians and all Americans who simply want an affordable health care system that meets their needs,” said Senator Isakson. “I am eager to get to work on a system that would cover preexisting conditions, provide relief from costly mandates and regulations, and prioritize returning the oversight of individual markets to the states, which can then tailor insurance programs to best benefit their unique populations. It’s past time to bring back private competition, state regulation and authority and see to it that health care in America is accessible and affordable.”

“In Georgia, 96 out of 159 counties only have one insurance option in the Obamacare exchange and that’s Blue Cross,” said Senator Perdue. “This rate hike means 60 percent of all Georgians who have Obamacare insurance are likely to see their health care costs increase dramatically next year. This is unmanageable. I have said it all along. Obamacare is collapsing under its own weight. This rate hike is further evidence that free-market solutions are needed now to increase competition, drive down costs, and increase choice in the individual market.”

The report, published on July 7, 2017, also confirms that even more carriers may exit the Obamacare exchange marketplace after 2018. Other insurance carriers have indicated they may exit in 2018 and that could affect thousands more Georgians. Already in 96 out of 159 counties in Georgia, only one option remains for health insurance coverage on the Obamacare exchange, leaving citizens in rural areas without options for the coverage that they need.

Senators Isakson and Perdue remain concerned that unless Congress acts to fix this failing law, thousands of Georgians will be caught in Obamacare exchanges next year with rising premiums and few or no options.

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Senator Perdue is the only Fortune 500 CEO in Congress and is serving his first term in the United States Senate, where he represents Georgia on the Armed Services, Banking, Budget, and Agriculture Committees.