Monday, September 23, 2013

What you'll actually pay for Obamacare

CNN/Money

"Millions of Americans won't have to pay full price for their Obamacare health insurance next year. But just how much they'll have to fork over depends on a couple different things.

"Thanks to subsidies from the federal government, which will help pay for health insurance on state-based exchanges starting in 2014, many low- to moderate-income Americans will get a break on their premiums."
....
 "The Kaiser Family Foundation estimates that 48% of Americans who buy individual insurance today would be eligible for subsidies. They would receive an average of $5,548, which would cover 66% of the price."
....
Here's how you qualify:

Hat tip to De-Bunking GOP Political Talking Points, which states:
" GOP claims rates will go up 32%: "The analysis estimated that for the individual, or nongroup, market, the “cost per member per month will increase 32 percent under ACA, compared to pre-ACA projections.” But that’s costs for insurance companies, not an increase in premiums. In fact, the report didn’t attempt to estimate what the change might be in premiums.

"While the CBO said that the average premium per person in the individual market would go up by 10 percent to 13 percent because of the health care law, it added that for most, subsidies would push their costs “well below” what they would have been charged in the absence of the law. In its latest report, the CBO says about 80 percent of an estimated 25 million joining the exchanges by 2023 will receive subsidies. In addition, for those seeing an increase in cost, they would also see an increase in coverage. Their current cheaper policy with high deductibles and co-pays and upper limits for yearly payouts would be replaced with better standardized plans."


File this post away to see who turns out to be right.

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