Expert: Premiums for Individual Health Plans In Exchange Will Be High
Posted in the Columbus Forum
#1 May 19, 2013
Maisel said that he thinks premiums for individual health plans "will go up 40% to 70%… and this will cause a national furor."
He said a variety of factors could boost premiums for individual health plans in the exchange, including that:
Policies will offer more choice and more closely resemble employer-sponsored health insurance;
Health plans will be paying a greater percentage of health care costs;
Insurers will not be able to deny coverage for individuals based on pre-existing conditions or charge more for poor health status;
Health plans will be required to charge younger beneficiaries a higher percentage of what older people pay for insurance;
Higher enrollment of older individuals will mean higher health care costs; and
Many individuals will be eligible for health plan subsidies (Sacramento Business Journal, 5/10).
Read more: http://www.californiahealthline.org/articles/...
“Ludibrium est onus genio”
Since: Dec 11
#2 May 19, 2013
Yeah, but most of those using the exchanges will be getting a huge subsidy... paid for by those who don't use the exchanges.
#3 May 19, 2013
There are four plans available - bronze, silver, gold & platinum. Only the bronze level and the lowest level of silver will qualify for any assistance.
If you want better coverage, you don't get any subsidies and you will pay through the nose. The bronze plan is very minimal, as defined during the Supreme Court hearings. Any treatment not covered would be the patient's responsibility at 100%.
Having said that, you're right.
#4 May 19, 2013
All plans except the "Catastrophic" plan for those under age 30 will qualify for subsidies. However, the closer you and/or your family get to 400% of poverty, the smaller the subsidy will be.
#5 May 19, 2013
The tax credit (aka subsidy) is based on the second lowest silver tier. If a consumer chooses any tier above that, they must pay the difference without additional help. In other words, if they qualify for 84% of cost sharing it will be done based on the second lowest silver tier - not 84% of cost sharing of the gold plan.
#6 May 19, 2013
But not for out of pocket costs. Those are limited to the lower coverage plans.
#7 May 19, 2013
Apologies for not being clear.
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