Skip to comments.ObamaCare Raises Health Insurance Premiums, Especially For The Young
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 Americas 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 ...
The obvious choice for a young, healthy person is to opt out.
- or faker that you are an illegal alien ...
Young employed people will avoid this like the plague, damning obamacare to oblivion. Everybody at Free Republic saw this coming.
Well and truly scrod. That’s what it takes sometimes.
"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.
And then the subsidies will decrease. “Our costs were higher than expected.”
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.
“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.
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.
I think that's a very prescient statement -- provided Ovaporcare survives long enough for it to get that far.
The Weekly Standard article I cited is here:
Come on—they still do not admit it’s a failure in North Korea or Cuba. They just tighten the screws more and more.
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.
I know what you mean. I heard about the website on conservative talk shows.
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.
MOST AWESOME! Thanks for providing the health sherpa link.
And they did it in a few days. Just goes to show how really screwed up healthcare.gov was/is.
Yeah, it may be crappy coverage, but at least it’s overpriced.
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.
She’s being “allowed” to buy Sandra Fluke’s birth control.
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!
“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.
“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.
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!!
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.
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.