Posted on 10/17/2009 10:40:24 PM PDT by Lorianne
This tool illustrates premiums and government assistance under the types of reform proposals being considered in Congress for people under age 65 who purchase coverage on their own in an Exchange or Gateway and are not covered through their employer, Medicare or Medicaid. While the proposals considered would not take effect until 2013, the results are presented in terms of 2009 premium and income levels to enable better comparisons to current circumstances. The tool allows the user to start with the provisions from one of several proposals and examine the impact at different income levels. Advanced settings allow users to change assumptions to show the effect of different policy choices.
A few caveats:
Specific subsidies for cost sharing and what people might pay out-of-pocket for deductibles and coinsurance are not illustrated on the calculator. In many cases coverage will be more comprehensive and accessible than what is typically available today in the non-group market, so premiums cannot easily be compared to what people buying insurance on their own are now paying. The calculator does not apply to people with coverage available through an employer, where the firm is generally paying for a substantial portion of the insurance premium.
Try it out with higher incomes and lower incomes for your age bracket. Lower incomes actually end up paying a higher percentage of earnings for healthcare, even with a government subsidy.
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