healthmyths
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Obamacare
"You should know that once we have fully implemented, youre going to be able to buy insurance through a pool so that you can get the same good rates as a group that if youre an employee at a big company you can get right now which means your premiums will go down.
President Obama, campaign speech in Cincinnati, July 16, 2012
And we have noted the president made what we called a foolish, dubious campaign promise with a huge asterisk that premiums would be $2,500 lower than they would have been without the law.
The Facts
But the bad news is that, on average, premiums almost certainly will go up with some people really getting hit with increases. Based on the analysis of the individual market, there is a concern for rate shock to a material portion of the population, a report for Rhode Island said. The individuals who currently are qualified for preferred rates will be seeing large increases in their healthcare premiums if they do not qualify for premium subsidies.
Heres a summary of the research:
- A nationwide study conducted by Milliman Inc. for the Society of Actuaries found that nationwide the premiums in the individual market would increase from 8 to 37 percent in 2014 with a cumulative increase of as much as 122 percent between 2013 and 2017.
- Indiana determined the law would boost premiums in the individual market on average by 75 to 95 percent and in the small employer market by 5-10 percent in 2014.
- Ohio found rates would go up 55 to 85 percent above current rates, before tax credits.
- Minnesota concluded that individual market premiums will increase between 26 to 42 percent
- Maine said individual premiums will increase on average by 40 percent and premiums in the small group market are likely to increase 8 to 9 percent.
About 20 percent of the individual market would still experience premium increases even after subsidies.
- Maryland concluded individual premiums will go up on average by 34 to 36 percent and in the small employer market on average by 2 percent
- Wisconsin found that before tax credits, the average premium increase in the individual market will be 30 percent.
- Colorado said individual premiums will go up on average 19 percent.
- Rhode Island found that before tax subsidies, premiums for individuals will increase on average by 8 percent.
The Pinocchio Test
The president asserted that because of the law, small business and individual premiums will go down. But the reality is much more complicated than that.
President Obama?s claim that insurance premiums ?will go down? - The Washington Post
"You should know that once we have fully implemented, youre going to be able to buy insurance through a pool so that you can get the same good rates as a group that if youre an employee at a big company you can get right now which means your premiums will go down.
President Obama, campaign speech in Cincinnati, July 16, 2012
And we have noted the president made what we called a foolish, dubious campaign promise with a huge asterisk that premiums would be $2,500 lower than they would have been without the law.
The Facts
But the bad news is that, on average, premiums almost certainly will go up with some people really getting hit with increases. Based on the analysis of the individual market, there is a concern for rate shock to a material portion of the population, a report for Rhode Island said. The individuals who currently are qualified for preferred rates will be seeing large increases in their healthcare premiums if they do not qualify for premium subsidies.
Heres a summary of the research:
- A nationwide study conducted by Milliman Inc. for the Society of Actuaries found that nationwide the premiums in the individual market would increase from 8 to 37 percent in 2014 with a cumulative increase of as much as 122 percent between 2013 and 2017.
- Indiana determined the law would boost premiums in the individual market on average by 75 to 95 percent and in the small employer market by 5-10 percent in 2014.
- Ohio found rates would go up 55 to 85 percent above current rates, before tax credits.
- Minnesota concluded that individual market premiums will increase between 26 to 42 percent
- Maine said individual premiums will increase on average by 40 percent and premiums in the small group market are likely to increase 8 to 9 percent.
About 20 percent of the individual market would still experience premium increases even after subsidies.
- Maryland concluded individual premiums will go up on average by 34 to 36 percent and in the small employer market on average by 2 percent
- Wisconsin found that before tax credits, the average premium increase in the individual market will be 30 percent.
- Colorado said individual premiums will go up on average 19 percent.
- Rhode Island found that before tax subsidies, premiums for individuals will increase on average by 8 percent.
The Pinocchio Test
The president asserted that because of the law, small business and individual premiums will go down. But the reality is much more complicated than that.
President Obama?s claim that insurance premiums ?will go down? - The Washington Post
One good thing is going to come from Immg. Reform. Guess what that is?
