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ObamaCare Raises Health Insurance Premiums, Especially For The Young
forbes ^ | 12/5/2013 | Mathew Herrper

Posted on 12/08/2013 5:48:10 PM PST by tobyhill

The Affordable Care Act has dramatically increased the cost of buying a health insurance plan on the individual market in California, Texas, Florida, New York, Illinois, Georgia, and North Carolina, states that account for more than half of America’s uninsured adults, according to a study by Sector & Sovereign, a sell-side firm that focuses on advising investors what sectors to put their money in.

Worse, the firm argued in a note earlier this week, the increases in cost are most substantial for the young.

According to S&S, the average deductible – the amount of money you spend out of pocket before your health insurance kicks in– for plans purchased by a 21-year old man in 2013 was $3,649, bought at an average monthly premium of $144. To purchase a plan with the same deductible now, a 21-year-old would have to pay $261, an 81% increase.

(Excerpt) Read more at forbes.com ...


TOPICS: Extended News; News/Current Events
KEYWORDS:

1 posted on 12/08/2013 5:48:10 PM PST by tobyhill
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To: tobyhill

redistribution....aka....communism


2 posted on 12/08/2013 5:50:28 PM PST by Sacajaweau
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To: tobyhill

The obvious choice for a young, healthy person is to opt out.


3 posted on 12/08/2013 5:54:21 PM PST by RKBA Democrat ( There is no worst president but owebama, and valerie jarrett is his prophet.)
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To: RKBA Democrat

- or faker that you are an illegal alien……...


4 posted on 12/08/2013 5:57:06 PM PST by devolve (- "He's (Obama) just 'too talented' to do what 'ordinary people' do." - "All this for a damn fag!" -)
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To: tobyhill
Think they understand yet?


5 posted on 12/08/2013 5:57:10 PM PST by SandRat (Duty - Honor - Country! What else needs said?)
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To: tobyhill
The 21 year old could stay on his parent's insurance for 5 more years. The young people most interested in obamacare are the ones who are unemployed and not on their parent's plan, for them, it will be "free".

Young employed people will avoid this like the plague, damning obamacare to oblivion. Everybody at Free Republic saw this coming.

6 posted on 12/08/2013 5:58:06 PM PST by Graybeard58 (_.. ._. .. _. _._ __ ___ ._. . ___ ..._ ._ ._.. _ .. _. .)
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To: SandRat

Well and truly scrod. That’s what it takes sometimes.


7 posted on 12/08/2013 5:59:14 PM PST by HiTech RedNeck (The Lion of Judah will roar again if you give him a big hug and a cheer and mean it. See my page.)
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To: tobyhill
What's even more revealing is to compare the young people's premiums with old people's.

"The Weekly Standard" of 12/9/2013 compared premiums on an average basis over a large sample of the country. Here's an example:

26-year-old and 61-year-old both making $30,000 and getting the cheapest bronze plan.

The 26-year-old will have an annual premium of $2,100, less a subsidy of $500, for a cost to him of $1,600.

The 61-year-old will have an annual premium of $4,900, less a subsidy of $4,000, for a cost to him of $900.

So the 26-year-old ends up paying much more than the 61-year-old, despite the 61-year-old having much higher expected healthcare costs.

8 posted on 12/08/2013 6:03:30 PM PST by MUDDOG
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To: tobyhill

And then the subsidies will decrease. “Our costs were higher than expected.”


9 posted on 12/08/2013 6:06:10 PM PST by blueunicorn6 ("A crack shot and a good dancer")
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To: tobyhill
Somebody has to pay for "free" healthcare. After all, the commie 'RATS say it's a "right".

s/

10 posted on 12/08/2013 6:08:48 PM PST by FlingWingFlyer (If you think signing up for ObamaCare was fun, wait until you try to use it.)
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To: MUDDOG

I would like to see some kind of a set of charges with coverages of all coverages like I get from my current old time health care provider. I have not seen any published costs of coverage. Indeed it seems like there are a bunch of scavengers who look at a persons history and pick a cost frame out of the sky that suits their fancy. We have a granddaughter who has had a sufficient affordable care program with a large provider who has now been billed for added $200 per month new program ostensibly for same previous health coverage but she hasn’t been told what difference is built into the increased cost.


11 posted on 12/08/2013 6:25:54 PM PST by noinfringers2
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To: HiTech RedNeck
Yup!..Its the law!....and to quote a very smart person.... what difference does it make now?
12 posted on 12/08/2013 6:27:04 PM PST by M-cubed
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To: Graybeard58

“Young employed people will avoid this like the plague, damning obamacare to oblivion.”

I’m convinced that there is no level of failure, no amount of financial or personal suffering that will make Obama Pelosi and Reid admit that their Socialist Utopia has failed. The Progressives have been working towards this since long before FDR’s New Deal. They will blame Republicans, doctors and insurance companies and issue endless executive orders, but they will never willingly surrender on wealth redistribution through centrally-planned health insurance.

The only way to repeal Obamacare before it collapses our economy is to win enough seats in 2014 to impeach and convict.


13 posted on 12/08/2013 6:34:50 PM PST by Junk Silver
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To: RKBA Democrat

Exactly, and I’m not young. If this is true, then that’s what they should do. They still need coverage though. Either through work or the private market, they need to get coverage.

It seems as if the Obama people knew nothing about nothing when it comes to health care. The people they need to make the thing work are being charged a lot more?

LMAO This will NEVER work.


14 posted on 12/08/2013 6:41:03 PM PST by DoughtyOne (May his name be striken from every tablet stone building and never be said again short of treason!)
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To: blueunicorn6
And then the subsidies will decrease. “Our costs were higher than expected.”

I think that's a very prescient statement -- provided Ovaporcare survives long enough for it to get that far.

15 posted on 12/08/2013 6:42:26 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: noinfringers2
Some independent programmers set up a website that computes Obamacare premiums, and you don't have to enter any personal info:

the healthsherpa.com.

The Weekly Standard article I cited is here:

Wise Beyond Their Years

16 posted on 12/08/2013 6:42:48 PM PST by MUDDOG
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To: Junk Silver

Come on—they still do not admit it’s a failure in North Korea or Cuba. They just tighten the screws more and more.


17 posted on 12/08/2013 6:46:17 PM PST by riri (Plannedopolis-look it up. It's how the elites plan for US to live.)
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To: MUDDOG
Some independent programmers set up a website that computes Obamacare premiums, and you don't have to enter any personal info: the healthsherpa.com.

Thanks for sharing that link. I've been wondering what my family's health care costs would be under Obamacare, but there's no way in hades I'm clicking on healthcare.gov to find out.

18 posted on 12/08/2013 6:47:07 PM PST by Windflier (To anger a conservative, tell him a lie. To anger a liberal, tell him the truth.)
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To: Windflier

I know what you mean. I heard about the website on conservative talk shows.


19 posted on 12/08/2013 6:49:03 PM PST by MUDDOG
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To: DoughtyOne

The idea of insurance is to minimize the impact of a catastrophic event. If you think that the chance of a catastrophic event coming your way is very low (and young people are notorious for thinking that they’re invincible), then they’re going to choose not to insure that risk. It’s a rational course of action, especially when your costs are intentionally skewed to be higher than your relative risk.

This WILL never work. Because contrary to popular belief, young people who are actually working and earning a living are smart enough to realize that getting $60 worth of “free” birth control pills a year does not justify spending $3000 for insurance that you’ll not be likely to use.


20 posted on 12/08/2013 6:58:25 PM PST by RKBA Democrat ( There is no worst president but owebama, and valerie jarrett is his prophet.)
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To: MUDDOG

MOST AWESOME! Thanks for providing the health sherpa link.


21 posted on 12/08/2013 7:02:12 PM PST by RKBA Democrat ( There is no worst president but owebama, and valerie jarrett is his prophet.)
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To: RKBA Democrat

And they did it in a few days. Just goes to show how really screwed up healthcare.gov was/is.


22 posted on 12/08/2013 7:04:45 PM PST by MUDDOG
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To: tobyhill

Yeah, it may be crappy coverage, but at least it’s overpriced.


23 posted on 12/08/2013 7:13:33 PM PST by ArmstedFragg (hoaxy dopey changey)
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To: tobyhill
Anything the feral government does is orders of magnitude more expensive than when the private sector does it.

The feral government has no need to be constrained by reality. If they don't have enough money for something, it merely means they haven't raised taxes enough yet.

24 posted on 12/08/2013 7:13:46 PM PST by E. Pluribus Unum (Who knew that one day professional wrestling would be less fake than professional journalism?)
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To: noinfringers2

She’s being “allowed” to buy Sandra Fluke’s birth control.


25 posted on 12/08/2013 7:17:36 PM PST by ArmstedFragg (hoaxy dopey changey)
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To: tobyhill

Can’t slip anything by those steely-eyed journolists at “Forbes”. This has been evident since October and entirely predictable since Obamacare was first proposed.

Welcome to reality!


26 posted on 12/08/2013 7:26:15 PM PST by Tallguy (between taglines...)
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To: tobyhill

“For a 64-year-old man, the cost of a plan with a $3,494 deductible increased 64% to $806.”

For a healthy 64 year old, that means they are $9672 plus have $3494 deductible. That’s $13,166.

Hell, they’d be better off saving the cash and having about $150k in the bank by 74. Or hidden in gold bars with a way to get surgery in Thailand.


27 posted on 12/08/2013 7:26:39 PM PST by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: Graybeard58

“Young employed people will avoid this like the plague, damning obamacare to oblivion. Everybody at Free Republic saw this coming. “

Exactly what you’d expect from someone who never ran a lemonade stand. And yes, we all saw this coming. Even better, wait till Doctors aren’t paid and start dropping out. Saw that coming too.


28 posted on 12/08/2013 7:29:09 PM PST by DaxtonBrown (http://www.futurnamics.com/reid.php)
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To: tobyhill
WHERE DID THE OBAMACARE WEBSITE DOUGH GO?????

Hannity recently had two PROFESSIONAL web site developers on his TV show. He asked them both how much they might have charged to construct a secure web site that functioned as necessary from the git go: Their TOP figure was around $10 million!!

That's much more than one well respected US IT firm offered to do the project for: THEY'D HAVE DONE IT FOR FREE!!

Compare those to the estimated $1 BILLION this SOB has shuttled to his cronies for this turkey and I think even the most devoted obozo worshiper can grasp the magnitude of the CORRUPTION in this on-going CRIMINAL ENTERPRISE!!! (Well that's almost certainly an overstatement...)

QUESTION: WHERE THE HELL IS CONGRESS IN ALL OF THIS?

ANSWER: On their computers checking their numbered Swiss accounts to be certain the proper amount was deposited!!!!

IF THIS DOESN'T P.I.S.S. Y.O.U. O.F.F. you aren't paying attention and you're certainly too stupid to vote.

We need an angry electoral tsunami to sweep the parasites on the regular, COMMON SENSE citizens who have READ and UNDERSTAND the CONSTITUTION!! Anything short of that and we're TOAST!!


29 posted on 12/08/2013 8:03:20 PM PST by Dick Bachert (Ignorance is NOT BLISS. It is the ROAD TO SERFDOM! We're on a ROAD TRIP!!)
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To: MUDDOG

Those don’t seem right, too low. The highest priced bronze plan is over $200 a mnth less than what shows for us on CoveredCa.


30 posted on 12/08/2013 8:57:46 PM PST by sheana
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To: sheana
The premiums in the Weekly Standard article are averages over 50 counties representing 29% of the US population.

The actual rates an individual pays vary by where he is.

The Weekly Standard link I posted explains the average calculation, and the healthsherpa link gives a very easy calculator (including subsidies) for actual rates by specific zip code.

I'm not aware of any mistakes in the numbers, which is not to say there aren't any. If you get a different rate from the healthsherpa calculation than what you've actually been quoted in real life, then of course there's a problem somewhere.

31 posted on 12/08/2013 9:09:38 PM PST by MUDDOG
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