The increase in the Obama Care insurance rates is a disturbing reality that many American citizens have taken in with a lot of pain. Despite this hard fact, there is something to smile about it because it means more American lives are being saved and catered for, by Obama Care insurance.

Were it not for the increase in demand for the service provided, there could have been no hike in the insurance premiums. The simple reason why this basic necessity for the Americans had to have its premium rates sky rocket is the need to cater to the rising demand to cover high-risk consumers.

Obama Care insurance was meant to be an insurance reform responsible for providing affordable insurance, as well as protecting the Americans from hiking of insurance premiums by insurance providers. Below we will touch base on why the Obama Care insurance rates may have been increased by your insurance provider.

The increasing rates of the Obama Care insurance may be only traced to your insurance provider, simply because Obama care is governed by the law that restricts insurance companies from directly increasing the insurance premiums. This means that, only the providers can be behind the ridiculous high rates.

On the other hand, health insurance companies are equally monitored by the Federal Government and the state at large to avoid abnormal increasing of insurance rates.

For instance, if there is a spike of more than 10%, the health companies will need to justify their actions to the state affected, and have their information available to the state through their website. Incase the state is found wanting of an effective program for reviewing the rates, the Federal Government takes charge.

Obama Care has tried to reach out to every American Citizen to ensure that all contribute and benefit from this program. Those who find themselves under the 400% poverty level of the Federal government, get tax premium credits as “cost assistance”. Those receiving tax credits end up paying lesser premiums.

Due to the inherent form of cost sharing propagated by the Obama Care insurance, the higher earners are met with higher rates than the lesser earners. This is good news to the less earning and poverty-stricken citizens.

In order to benefit from Obama Care insurance, proper attention should be given to the understanding of how one can get the best health insurance premiums through navigating the available insurance premiums. It is worth your effort to research because there are different qualities and covers offered that will effectively cover you and your family.

In a nutshell, Obama Care insurance is not responsible for the high premium rates, but it has worked tirelessly to protect the American citizens from the same. Through the rate review provision of 80/20 rule, the Obama Care has stayed alert in regulating the insurance companies and not your health care. It is a sad fact to note that the government is responsible for giving protections, but it cannot control your health care.

Your insurance providing company is capitalizing on the Obama Care confusion to exploit you before protection is put in place. It will only take a while before protection is put in place and all will be well.

What are your thoughts on Obama Care and insurance rates?