New York enters the ObamaCare death spiral
Uh-oh: New York seems set for a ride on the ObamaCare death spiral.
Word came Wednesday that Empire State health-care insurers plan huge hikes in premiums for individual ObamaCare policies — 17.3 percent, on average, but up to 89 percent in at least one case.
That’s going to hurt: Wages have been growing by just a bit over 3 percent a year.
It’s a national trend: Plans in several other states also face double-digit bumps.
Why such steep spikes? Like others, Oscar Insurance cites rising medical costs, expiring government subsidies and customers who need “more care than we expected.”
And that last cost-driver — sicker-than-expected patients — is a built-in, fatal flaw.
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