A study produced by the Society of Actuaries predicted medical claim costs could jump 32 percent nationally by 2017 for individual policies under the Affordable Care Act. The research study was widely written about in the press, including The Daily News.
Kaiser Health News and Politico Pro are now reporting the study failed to note the close ties between the actuaries making the forecasts and the insurance industry.
“Undisclosed in the SOA report was the fact that about half the people who oversaw it work for the health insurance industry that is warning about rate shock. The chairman of society committee supervising the project was Kenny Kan, chief actuary at Maryland-based CareFirst BlueCross BlueShield,” Kaiser Health News and Politico Pro reported.
Optum, the sister company of UnitedHealthcare, performed the research for the study. UnitedHealthcare is the nation’s largest private health insurer, the news organizations jointly reported.
Supporters of the Affordable Care Act pointed out that the actuary society’s study failed to factor in the potential for competition to lower prices and the subsidies people will receive to purchase coverage.