When she was 32, Wendy Drabick opened her own IT and accounting consulting business and started paying health insurance premiums for herself and her family, now a hefty $1,100 every month. That’s about $10,000 more each year than she’d be paying if she worked for a large employer who paid most of the premium. Drabick isn’t complaining, but she would like to know if her premium will go up under the Affordable Care Act (ACA, also known as Obamacare), and if so, how much. Nearly all Americans will need to have coverage, many through state marketplaces, beginning January 1, 2014.
The article doesn’t directly mention two issues that will have a direct effect on the cost of one’s coverage:
- A person’s age. The older one is, the greater the self employed person will benefit from the 3:1 maximum difference in premiums between young and old
- Income. Subsidy eligibility determines how much you will actually have to to pay.