Report Finds ACA Likely Curbed Rising Insurance Costs
An annual report issued by Citizen Action of Wisconsin shows the Affordable Care Act slowed the cost of health insurance increases in Wisconsin, though the long term trend is toward rapid inflation.
Executive Director Robert Kraig says they have data going back to the year 2000 to juxtapose with the recent numbers...
".....it shows a dramatic increase, a tripling of premiums and deductibles together 226 percent increase statewide, but even greater variations within regions with a low of 168 percent since the year 2000 in Madison and a high of 381 percent in Green Bay...."
Kraig says while still high, the pace of insurance inflationary costs leveled off since the start of the Affordable Care Act....
"....that the hyperinflation in the small group market was seven times higher in the 13 years before implementation of the Affordable Care Act than in the four years since. That is 15 percent statewide before versus two percent after...."
Another key point finds north central Wisconsin and northwestern Wisconsin are highest cost areas, with Madison having the lowest rates, and there was no clear correlation between cost and quality.
Kraig says as members of Congress gather to eliminate the Affordable Care Act, they need to consider an alternative that would work for many people not able to afford coverage.
Proponents of repeal say the Act has caused prices to rise, but Kraig says their data shows the opposite is likely the case....
"....what we are saying is that claims that health insurance costs have spiked because of ACA are not supported by this data...."
The full report can be seen at citizenactionwi.org