New Study on Obamacare Premiums
Posted by Michelle Moquin on September 18th, 2013
Good morning!
Obviously enough hasn’t been said. Since the conversation on Obamacare is continuing, I thought I would add this write in to keep it going…and as the article says, “…end the ‘rate shock’ hysteria once and for all.”
Once again…Think Progress:
Major New Study On Obamacare Premiums Should End The ‘Rate Shock’ Hysteria Once And For All
The most comprehensive study on Obamacare to date finds that Americans’ insurance premiums under the health law will be “lower than expected.” Many Americans will pay even less than the top-line rates after factoring in government subsidies for their health coverage, with some paying nothing at all for crucial medical coverage.
The Kaiser Family Foundation (KFF) looked at individual policy prices in the 17 states, plus the District of Columbia, that have released comprehensive numbers for their Obamacare insurance marketplaces. Since premiums under the law will vary based on factors such as age and geographic location, KFF chose to examine how much the second-least expensive “Silver” mid-level plan and the least-expensive bare-bones “Bronze” level plan would cost for 25-year-old, 40-year-old, and 60-year-old Americans in those 17 states’ largest cities. The report includes both the top-line prices for those demographics, as well as what their costs would be after factoring in government subsidies based on varying income levels.
According to KFF’s findings, a single 40-year-old in Los Angeles could buy the second-cheapest mid-level plan for $255 per month — but if that person makes just under $30,000 per year, he or she will only have to pay $193 per month after receiving a government subsidy.
Strikingly, in every city analyzed, a family of four with two 40-year-old adults and a household income of $60,000 per year would pay $409 per month for the second-cheapest Silver plan after receiving subsidies. That’s more or less in line with the average $4,565 per year that workers currently contribute towards their employer-sponsored health insurance plans.
The report also finds good news for younger and older Americans. In Seattle, a 25-year-old making $28,725 per year will pay $193 per month for a Silver plan after subsidies and $138 per month for the cheapest Bronze plan after subsidies. For a single 60-year-old with the same income, those number would be $193 per month and $44 per month, respectively, after factoring in subsidies. And in Burlington, Vermont, both a single 25-year-old making $25,000 per year and a 60-year-old couple making a combined $30,000 per year would pay nothing at all for the cheapest, bare-bones Bronze plan.
While the KFF researchers emphasized that there will be significant variation in Obamacare premiums depending on geographic location, they concluded that premiums would be lower than what the government expected, writing, “the latest projections from the Congressional Budget Office imply that the premium for a 40-year-old in the second lowest cost silver plan would average $320 per month nationally. Fifteen of the eighteen rating areas we examined have premiums below this level, suggesting that the cost of coverage for consumers and the federal budgetary cost for tax credits will be lower than anticipated.”
Plans purchased through the Obamacare marketplaces will be significantly more robust than current individual policies, which often skimp on essential coverage to bring down their prices and have been dismissed by consumer advocates as “junk insurance.” Obamacare marketplace plans must cover 10 broad categories of “essential health benefits,” including for prescription drug coverage, mental health services, and maternity care.
*****
Barbara: I’m with you. Many people have said that we need to STAY FOCUSED and as you so clearly expressed, “get out to the polls in 2014 and kick these assholes out.” I am one of them. We all know that we blew it last time. The question is, will we make the same same mistake. If we do, we can expect the same same results.
In my opinion, Obama has done an amazing job of getting things done in spite of those that oppose his every move. Whoever voted for Obama in 2009 and is disappointed now – Yes, I am speaking to you Adam - forget the stomach transplant, I would get your head examined – Obama isn’t the one to be disappointed in – look at your fellow citizens who decided not to show up on the very important day called “Midterm Elections.”
Nora: You are another smart girl.
Sarah: Yay – right on sister. Keep us posted on your mom and pop. And “ditto” to your comment to John.
Martin: OooKay…Sans the last 4 words, I don’t think I could’ve said it better.
Enough from me. What do you have to say? Blog me.
PEaCe BAby.
Lastly, greed over a great story is surfacing from my “loyal”(?) readers. With all this back and forth about who owns what, that appears on my blog, let me reiterate that all material posted on my blog becomes the sole property of my blog. If you want to reserve any proprietary rights don’t post it to my blog. I will prominently display this caveat on my blog from now on to remind those who may have forgotten this notice.
Gratefully your blog host,
michelle
Aka BABE: We all know what this means by now :)
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September 18th, 2013 at 9:52 am
HUFFPOST SUPER USER
Cisneros
62 Fans Become a fan
2 hours ago (11:06 AM)
Get over yourself. Who are you to judge me? Yes ma’am or sir? not that that matters a bit you just did because I am white. Racism is alive and well in the US. By the way I don’t know a single black, asian or any other ethnicity cop who turns his back for fear of being shot by another cop. You don’t give them much credit at all do you? Also by the way since the entire original rant was about whites getting off and if they were black they wouldn’t, (you listed a number of links for things that don’t back up your 99 out of 100 b.s. maybe you could find proof of that instead) well then yes the color of the cop does matter since it obviously did in the original. Also before slinging the you must be a racist card you might look in the mirror since you want so desperately to believe the black cops just stood there and watched the white cops shoot. 46 rounds indeed. All from the white guys because the black guys would never have done that. They were too afraid by your reasoning.
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HUFFPOST SUPER USER
LeTA0
63 Fans
1 second ago (12:50 PM)
This comment is pending approval and won’t be displayed until it is approved.
I would love to get over the fear of being murdered by cop. It is so white of you to tell me to do so. But unless a few more of your race will get over the BS denial you are spilling I will have to defer to my mother’s admonitions, if that’s okay with you.
And I’m certain you don’t know a single OTW cop who would confide their fears to you. Hello!
As for your convenient misreading of the accounts, what else would I expect from a denier of the obvious. Before you continue with your tired rhetoric, change your appearance to appear less white and confront a white cop.
It won’t take long for you to join my opinion. Until then you are just another apologist for a jUStice system that favors the color of your skin.
I never called you a racist. I don’t know you. But you have made me aware that you are one who hypocritically comes to this blog pretending to be naive to the situations OTW males face every day of their lives when confronted by white cops.
September 18th, 2013 at 4:08 pm
Nothing new here, unlike you lady! Stills from your new venture look great! Congratulations!!! Hope to see the full production soon. xoxox
/SB
September 18th, 2013 at 4:08 pm
Nothing new here, unlike you lady! Stills from your new venture look great! Congratulations!!! Hope to see the full production soon. xoxox
/SB
September 18th, 2013 at 5:40 pm
(double happiness?) Have a wonderful day peeps!
/SB
September 20th, 2013 at 12:21 am
I agree with you Michelle. We need to stay focused and get those bastards out of office.
September 20th, 2013 at 12:26 am
Nice to see you back Social Butterfly. I have to admit that I have borrowed your name, Социальная Butterbly, here in my native Russia. I have sworn to remain true the ideals you have brought here.
I want to visit America one day. What part of America do you live. Would you consider being friends with a former russian sharpshooter?