The Affordable Healthcare Act is about to get a little less affordable. Again.
Health insurance companies have petitioned for insurance rate hikes of 20% or more, because all the people who've gotten health insurance under the law are the people they turned down for costing them too much before the law mandated they accept them. And, as a result, everyone has to pay more. A lot more.
Health insurance companies around the country are seeking rate increases of 20 percent to 40 percent or more, saying their new customers under the Affordable Care Act turned out to be sicker than expected. Federal officials say they are determined to see that the requests are scaled back.