Health Insurance Premium Changes Due To Obamacare

There is a March 2013 report coming to light, prepared jointly by the House Committee on Energy and Commerce, Majority Staff; the Senate Committee on Finance, Minority Staff; and the Senate Committee on Health, Education, Labor & Pensions, Minority Staff, titled The Price of Obamacare’s Broken Promises: Young Adults and Middle Class Families Set to Endure Higher Premiums and Unaffordable Coverage, and it’s available here.

There’s a lot of data in the eight-page report, but the money figure is this one:

Those were estimates last spring, and for two states, the estimates weren’t available.

As of last September, though, Forbes estimated Vermont as having premium increases ranging from 71% to 157%, depending on age, and New York having a rate decrease in the neighborhood of 40%.  Forbes also estimated that some 17 states would see premium decreases in at least one age/gender demographic; although with many of those seeing the decrease in only one or two such categories.

Since Obamacare went live nearly three months ago, customers—especially those who’ve had their policies canceled out from under them—are seeing just these increases, and they’re also seeing enormous increases in deductibles—the amount of out of pocket expenses that must be absorbed by the patient before an Obamacare policy kicks in to pay (for a Bronze plan) all of 60% of the patient’s expenses.  For that year.  That’s a really sick patient to have all those expenses before coverage kicks in.

Some deal, this Obamacare.

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