I Find Politics Interesting
I thought obamacare would lower our premiums not increase them....
Business Insider
BOB BRYAN
Oct 29th 2016 4:00AM
The Department of Health and Human Services announced Monday that the cost for a health-insurance plan obtained through the exchanges set up by the Affordable Care Act, the healthcare law better known as Obamacare, will increase by 25% on average for the 2017 coverage year.
The report also broke down cost increases by state. The estimates attempted to set a middle of the road bar, using price estimates for a 27-year-old male buying the second-lowest priced silver plan (there are three metal levels: bronze, silver, and gold).
The increases vary heavily by state, with Indiana and Massachusetts seeing an average 3% decline in costs while Arizona tops out with a 116% average increase.
Many of the states seeing serious increases share similar traits: they have not expanded Medicaid, they have a low number of insurers active in the state, and they have larger rural populations, which are more expensive to cover.
The price changes have gained a lot of attention as some major insurers have pulled out of the exchanges because of large losses, critics of Obamacare say the price increases show the law is in a "death spiral." Supporters, however, contend that 77% of those on the exchanges can get tax credits that would keep monthly payments under $100 and the recent increases bring premium payments only up to levels projected before the law passed.
Here's how much Obamacare premiums are going up in every state
Business Insider
BOB BRYAN
Oct 29th 2016 4:00AM
The Department of Health and Human Services announced Monday that the cost for a health-insurance plan obtained through the exchanges set up by the Affordable Care Act, the healthcare law better known as Obamacare, will increase by 25% on average for the 2017 coverage year.
The report also broke down cost increases by state. The estimates attempted to set a middle of the road bar, using price estimates for a 27-year-old male buying the second-lowest priced silver plan (there are three metal levels: bronze, silver, and gold).
The increases vary heavily by state, with Indiana and Massachusetts seeing an average 3% decline in costs while Arizona tops out with a 116% average increase.
Many of the states seeing serious increases share similar traits: they have not expanded Medicaid, they have a low number of insurers active in the state, and they have larger rural populations, which are more expensive to cover.
The price changes have gained a lot of attention as some major insurers have pulled out of the exchanges because of large losses, critics of Obamacare say the price increases show the law is in a "death spiral." Supporters, however, contend that 77% of those on the exchanges can get tax credits that would keep monthly payments under $100 and the recent increases bring premium payments only up to levels projected before the law passed.
