White House report reveals staggering increase in health insurance premiums

(Washington, D.C.) – Today, U.S. Senator Patty MurrayPatty Murray (D-WA), and Washington state Insurance Commissioner Mike Kreidler released the following statements in response to the White House’s release of their report on “The Burden of Health Insurance Premium Increases on American Families.”

The report highlights the fact that in Washington state insurance rates have gone up by 129% in ten years, while wages have increased only 46%. The White House report also highlights the increase in some Washington state residents’ insurance by up to 40% in a single year. This report follows recent news that Washington State’s largest insurer raised individual rates by 17% starting July 1 of this year.

See what the report says about your state.

“This report shows once again what Washington state families and small business owners have known for years, that the status quo is unsustainable and we need health insurance reform now,” said Senator Patty Murray. “Our families deserve a health insurance system that makes care more affordable, and guarantees stable coverage that can’t be taken away when they need it most.”

“This report illustrates what we already know – the current system is breaking the backs of American families,” said Washington state Insurance Commissioner Mike Kreidler. “We need fundamental reform that guarantees health care to everyone, that is not tied to our jobs, that ensures choice and is built on the private system we have today. If do nothing, we will continue to spend twice as much as other countries while coverage erodes for too many of our families.”

Conclusion from the White House report:

To control the rising costs of health insurance premiums, health insurance reform is essential this year. Health insurance reform will increase stability and security for all Americans by holding the insurance companies accountable. Stability and security will be accomplished by the following rights for all Americans:

1. No discrimination for pre-existing conditions
2. No exorbitant out-of-pocket expenses, Deductibles or co-pays
3. No cost-sharing for preventive care
4. No dropping of coverage for seriously ill
5. No gender discrimination
6. NO annual or lifetime caps on coverage
7. Extended coverage for young adults
8. Guaranteed insurance renewal

Fair access to affordable insurance will be ensured by the elimination of individual underwriting rules.

Together, these reforms create peace of mind and the stability and security that Americans need and deserve, especially in our current tough economic times.

http://www.whitehouse.gov/assets/documents/Health_Insurance_Premium_Report.pdf

***Source: Press release from Senator Patty Murray’s office. No copyright restrictions