Obamacare Coming After Your Wallet

Obamacare’s High Premiums, Copayments And Deductibles Poised To ‘Burn A Hole In Your Wallet’

Obamacare ‘Premiums Test Limits of Affordability’

“Health insurance under Obamacare will cost individuals at least $2,988 a year on average, a price … out-of-reach for many Americans who don’t qualify for U.S. subsidies. … less than half of people now buying insurance on their own may get that help.” (“Obama’s $3,000 Health-Law Premiums Test Limits of Affordability,” Bloomberg, 9/25/13)

• “The release of exchange premiums comes after the U.S. Government Accountability Office reported in July on the cost of insurance individuals buy today. Those data show that Americans who are young and healthy are able to buy inexpensive policies. A 30-year-old nonsmoker can pay as little as $373 a year in Georgia or $1,027 in Alaska, the GAO reported.” (“Obama’s $3,000 Health-Law Premiums Test Limits of Affordability,” Bloomberg, 9/25/13)

Obamacare ‘Copayments And Deductibles Could Burn A Hole In Your Wallet’

“Consumers may have to dig a little deeper into their wallets to pay for health care in the Obamacare insurance exchanges, according to a new analysis by Avalere Health.” (“Exchanges May Have High Out-Of-Pocket Costs,” Politico, 9/26/13)

• “The study of six states suggests that consumers could face steep cost-sharing requirements — like co-payments, co-insurance and deductibles — layered on top of their monthly premiums.” (“Exchanges May Have High Out-Of-Pocket Costs,” Politico, 9/26/13)

“‘What’s the point of having [a policy] if I can’t afford to use it?’ asks the 47-year-old librarian in upstate Franklinville, N.Y., referring to the co-pays and deductibles she might incur.” (“Some Say Obamacare's 'Affordable' Coverage Isn't Affordable For Them,” NBC News, 9/24/13)

“An independent analysis released Wednesday, on the heels of an administration report emphasizing affordable premiums, is helping to fill out the bottom line for consumers.” (“Health Law Policies That Offer Low Premiums Come With High Deductibles And Copayments,” AP, 9/24/13)

• “…the added expense of copayments and deductibles could burn a hole in your wallet.” (“Health Law Policies That Offer Low Premiums Come With High Deductibles And Copayments,” AP, 9/24/13)
• “Americans looking for a health plan in new state insurance markets that open next week will face a trade-off familiar to purchasers of automobile coverage: to keep your premiums manageable, you agree to pay a bigger chunk of the repair bill if you get in a crash. Except that unlike an auto accident, serious illness is often not a self-contained event. Avalere also found that the new plans will require patients to pay a hefty share of the cost — 40 percent on average — for certain pricey drugs, like the newer specialty medications used to treat intractable chronic diseases such as rheumatoid arthritis and multiple sclerosis.” (“Health Law Policies That Offer Low Premiums Come With High Deductibles And Copayments,” AP, 9/24/13)

“…deductibles for typical exchange plans can run twice as high as the average employer-sponsored plan.” (“Exchanges May Have High Out-Of-Pocket Costs,” Politico, 9/26/13)

DC Exchange Announces ‘Significant Delay,’ Citing ‘A High Error Rate’

“Just days away from launch, the District of Columbia's health marketplace is announcing a pretty significant delay. While the D.C. Health Link will launch a Web site on October 1, shoppers will not have access to the their premium prices until mid-November.” (“D.C.’s Obamacare Fail: Prices Won’t Work Until November,” Washington Post, 9/25/13)

• “The delay comes after the District marketplace discovered ‘a high error rate’ in calculating the tax credits that low- and middle-income people will use to purchase insurance on the marketplace.” (“D.C.’s Obamacare Fail: Prices Won’t Work Until November,” Washington Post, 9/25/13)

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