5 Things to Know About the Cost of Obamacare Coverage | The Exchange – Yahoo! Finance.
- The “sticker price” is not what most people will pay.
- Old coverage vs. new coverage makes it hard to compare plans.
- Premiums on the exchanges won’t affect most consumers.
- Rates within individual tiers vary widely.
- Some consumers may get hit with large out-of-pocket health costs next year.
Thanks to Obamacare: Over 100K New Jersey Residents to Lose Their Affordable Health Plans under Obamacare | National Review Online.
The Star-Ledger warns that B&E customers who don’t qualify for a federal tax credit to purchase insurance can likely expect an three or fourfold increase in the cost of their next plan. According to Rutgers University’s Center for State Health Policy director Joel Cantor, the monthly plans of $150 for a 25-year-old male or $1,100 for a family with parents in their 40s will “easily” be three or four times more for a standard policy on the individual market. (B&E is basic and essential coverage)
One would think that people who don’t qualify for tax credits due to higher income would select a plan with more benefits than a B&E plan. The flip side is why pay for more coverage than you need? I’m sure there’s a socialogical term that refers to people suspending their belief that serious illnesses can possibly happen to them.