Now They Tell Us: ObamaCare Has Huge, Hidden, Premium Costs – Investors.com.
So just how could ObamaCare pile on costly new benefit mandates, require that insurers take everyone, not charge the sick more than the healthy, and keep rates low? Did Democrats manage to find a loophole in the law of supply and demand?
Well, no. Just because ObamaCare premiums didn’t come in as high as some expected doesn’t mean they’re not pricey, particularly for young people.
In fact, the cheapest ObamaCare Bronze plan available to 25-year-olds in several states will cost more than the median-priced plan in those states today, even after taking account of the subsidies.
In Virginia, a low-income 25-year-old will pay $127 a month for the cheapest plan after subsidies, according to the Kaiser Family Foundation. But the Government Accountability Office found that the mid-priced plan in Virginia today costs just $112 a month.
And as the New York Times discovered, even these ObamaCare prices are misleading, since the only way insurance companies could keep them low was by severely restricting their networks of doctors and hospitals.
Silly me, I thought my clients could keep their doctors. Well, not really but my clients thought they could keep their doctors. In fact, they STILL think they can keep their doctors. Those who investigate Obamacare will discover differently in the upcoming months.
How do you compensate for the reduced network? Supplemental policies. Supplemental accident and critical illness policies will help to cover additional costs if you find yourself seeking out of network medical care. Suddently it will be much easier to be “out of network”.
As IBD concludes….
The result is that any patient who actually needs health care could end up having to choose between forgoing treatments or paying huge costs to go out of the network. Either way, they’ll get far less than promised. As the Times discovers, “having an insurance card does not guarantee access to specialists or other providers.”
Once again, think supplemental policies.