More ObamaCare Disaster

From the Baltimore Sun: Marylanders who buy health insurance on a state exchange under health reform could see their premiums jump as much as 25 percent under rates approved by state regulators, but those increases are less than insurers sought.
Maryland Insurance Commissioner Therese M. Goldsmith approved premium increases Friday for nine insurance companies who applied to sell plans to individuals through a state exchange, called Maryland Health Connection, established under health reform.
The rates were significantly lower than what insurance companies had requested, but still higher than the 6 percent to 7 percent annual premium increase that is typical across the country. Insurers said they were seeking the increases to cover the uncertainty of new costs associated with health care reform.
The full impact of Goldsmith's decision is not known because it is not certain how many people will buy insurance from the exchange. The rate increases would not affect most people who purchase insurance through their jobs, but there are many others who buy insurance individually or who are uninsured who will be able to buy from the exchange.
Maryland Health Connection estimates 180,000 people will buy from the exchange for 2014. They largely will come from the 146,078 Marylanders who currently buy in the individual market and from the estimated 740,000 uninsured people in the state.
The rate review process was scrutinized by critics who thought insurers were seeking exorbitant hikes. Goldsmith approved increases as much as 33 percent below what insurers asked. The commissioner said she sought to balance the needs of both consumers and insurers.
Read more: http://www.baltimoresun.com/health/health-care/bs-hs-insurance-rates-20130726,0,5672986.story#ixzz2aEK0MJ7H
And here I thought ObamaCare was supposed to save consumers money but in reality it is going to cost consumers a lot more than anyone expected.