Excerpted from DAILY CALLER: Florida’s largest Obamacare exchange health insurer is boosting its premiums by 17.6 percent, a staggering increase for hundreds of thousands of Floridians.
Florida Blue, the Blue Cross Blue Shield insurer in Florida, has the largest market share of any insurer operating on the state’s Obamacare exchange. The company cited higher health costs than expected due to an older customer base which is using more health services than they’d prepared for, according to Kaiser Health News.
Patrick Geraghty, Florida Blue’s CEO, had previously warned that the company was under “tremendous financial pressure” and that they’d be seeking significant hikes.
“It is far from clear that large enrollment in the marketplace is a financially beneficial place to be,” Geraghty told Kaiser Health News last month.
Florida Blue has attracted a third of all Florida’s Obamacare exchange customers, which number almost 1 million. Keep Reading