President Obama and Senator Hagen promised if you like your plan you can keep it. Well, that didn't really work out under Obamacare regulations. So, the President begged insurance carriers to "extend" some existing plans. Those are called "transitional" plans. In NC, Blue Cross is the only insurer offering "transitional" plans. Those plans are going up on average 19% this year, according to BC/BS and Karen Restrepo at the John Lock Foundation.
If you're locked into Obamacare, you do have some lower cost options, you can go into an ACA plan which has increased in cost an average of 13.5%. If you are so fortunate as to have a "grandfathered" plan, the cost increase will be 13.4%. OUCH! For the record, "grandfathered" plans are those few which met the Obamacare regulations but were in existence before 2010.
How's that hope and change working out for you?
Walt
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