Study: Missouri Medical Claim Costs Could Rise Sharply
JEFFERSON CITY, Mo. (AP) – A new study says Missouri could see a 59 percent increase in the cost of medical claims for individual insurance policies under President Barack Obama’s health care law.
The study by the Society of Actuaries says Missouri’s projected cost increase would be the eighth highest among states. Nationally, it says claim costs could rise by an average of 32 percent per person in the individual health insurance market by 2017.
The cost of medical claims is a big driver of health insurance premiums.
The study assumes all states would expand Medicaid coverage under the federal health care law.
Democratic Gov. Jay Nixon has been traveling around Missouri trying to build support for a Medicaid expansion. But Missouri’s Republican-led Legislature has repeatedly rejected it while citing concerns about future costs.
Report: Medical claims costs to rise in Illinois
CHICAGO (AP) – A new report says the national health law will lead to a nearly 51 percent increase by 2017 in the cost of medical claims paid by insurers selling policies to individuals in Illinois.
The report from the Society of Actuaries says costs will rise largely because of spending on sicker people and other high-cost groups who will gain coverage under the Affordable Care Act.
Medical claims are considered the biggest driver of the cost of health insurance premiums.
The report does not make similar estimates for employer plans, which cover workers and their families.
The White House questions the design of the study, saying it focuses only on one piece of the puzzle and ignores cost relief strategies in the law such as tax credits to help people afford premiums.
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