Humana actuary: our Kentucky health rates going up 80%
A health insurance actuary at Humana testified in a Kentucky Department of Insurance rate filing document made publicly available today that his company’s individual health premiums need to go up eighty percent in 2014 and that sixty percent of that increase is due to the ObamaCare requirement for all applications to be accepted.
Nicholas Mueller, the actuary, requested a rate increase of 91.3% on Humana plan KY71037 and 47.2% on KY71108 which he said is comparable to the current KY71037-01. The Kentucky Department of Insurance demanded $300 for a computer disk with all the new rate application information on it, but eventually relented yesterday and let me look at it in their office.
Anthem’s filing did not specifically reference a percentage increase from 2013 to 2014, but its average premium request for 2014 is 14.68% higher than Humana’s.
The federally funded Kentucky Health Cooperative Inc. filing contained rates slightly cheaper than Anthem’s.