Some Oklahoma insurance rates set to skyrocket in 2017 in federal marketplace

Posted at 11:26 PM, Nov 01, 2016
and last updated 2016-11-02 00:29:24-04

TULSA-- Open enrollment begins November 1st for hundreds of thousands of Oklahomans. 

For some who get their insurance through the Affordable Care Act marketplace-- sticker shock is about to set in.

People who use the marketplace are running out of options.

In Oklahoma just one insurance company is available for those who have to purchase insurance trough the marketplace-. Fewer options mean more money out of your pocket.

For more than 130,000 in the Sooner State, health insurance is on life support.

 "I've had cancer twice-- so for example, two years ago I had to have part of my kidney cut out," said Seve Grothjan.

For financial planner Steve Grothjan, crunching numbers is second nature.

He showed us a letter from Blue Cross Blue Shield.

He says his premium is rising by nearly 90 percent.

 "It's hurting a lot of people- a lot of small businessman," Grothjan said.

Three years ago, several insurance companies served Oklahoma through the marketplace. Today Blue Cross Blue Shield is the only one remaining.

Despite losses the insurer says total more than $300 million since the ACA began.

"They underestimated the amount of disease that we had in Oklahoma and they overestimated the number of people who would be young and healthy," said Jan Figart with the Community Service Council.

For those using the marketplace, rates will rise between 58 and 96 percent next year.

"This is not going to significantly have an impact on the folks that are uninsured or insured on their employers health insurance, it will have a significant impact on those who are insured and the insurance marketplace under the Affordable Care Act," Figart said.

Jan Figart with the Community Service Council says most of the rising costs will be offset by subsidies offered by the federal government.

But that's not the case for everyone.

You can begin enrolling on the website right now- coverage can begin January 1st. The deadline to enroll  is January 31st.



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