Health Care Plans Under Obamacare Will Cost Even Less Than Expected
Posted in the Minneapolis Forum
#1 Jun 20, 2013
A new analysis of health care premiums proposed under the Affordable Care Act concludes that health plans will cost even less than originally expected. Thats likely because the insurance marketplaces will encourage more competition between insurers.
Avalere Health looked at insurers proposed rates for Obamacares statewide insurance marketplaces in nine different states, and found that premiums for a 40 year old non-smoker on a mid-level health plan will cost anywhere from a low of $205 (in one Oregon region) to a high of $413 (in one Vermont region). That high-end price is actually lower than what the Congressional Budget Office (CBO) predicted the average mid-level plan cost would be in 2016.
Avaleres report comes with some important caveats: the analysis is limited to 2014 premiums, whereas CBOs projections deal with 2016 rates. Critics may argue that insurers are offering deceptively low rates to attract consumers in the health laws first year of implementation, but plan on jacking those charges up once they have a larger customer base.
But insurers wouldnt necessarily be able to do that under Obamacare, since the law subjects any premium hike over 10 percent by insurers selling plans on a marketplace to review. Furthermore, sicker Americans are expected to take advantage of the laws protections before healthier and younger Americans enter the individual insurance market, meaning that future rate increases could be mitigated by a less costly pool.
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#2 Jun 23, 2013
Thanks Mr President !
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