This week’s Business First of Louisville had an article about Modified Community Rating. Â Director of Government Relations Lawrence Ford is quoted throughout the article.
Here’s the link:
Mr. Ford does a good job of explaining how this will impact Kentuckians rates. Â He highlights two issues. Â The first is younger people subsidizing the older population. Â Insurance companies aren’t going to bring down older folks rates, they’re going to push the young population up to help offset the older population claims. Â He also talks about the lack of a substantial penalty for those who don’t enroll.
Still something needs to be done about letting individuals buy whenever they get ill. Â The way it’s currently set up that is what could happen. Â I know there are talks about it, but we need something done soon before Jan 1, 2014.