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Thursday, July 18, 2013

Obama Administration: Premiums Under Obamacare Will Be Even Lower Than Originally Predicted | ThinkProgress

Obama Administration: Premiums Under Obamacare Will Be Even Lower Than Originally Predicted | ThinkProgress

The report will emphasize low costs for young Americans who buy insurance — a group that many commentators have argued would see their rates go up under Obamacare — by using Los Angeles county as an example. There, HHS expects the cheapest, mid-level “Silver” plan for a 25 year old to cost $174 per month without a federal subsidy, and only $34 per month (with a tax credit) for somebody making $17,235. Those numbers also track with data provided by California’s marketplace last month.
The new data comes on the heels of Wednesday’s news that New Yorkers’ premiums will be significantly lower under the health law. Insurers in Oregon, Montana, Louisiana, and California have also already announced marketplace rates that are lower than expected and offer more robust benefits than current policies. And many Americans will actually be able to buy insurance for even lower prices than those top line numbers, thanks to insurance subsidies provided by the federal government.

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