The Affordable Care Act is not so affordable after all

Posted on 8/29/2013 11:51 AM in Politics


Shocking admission by the National Journal. Republicans have long been saying that Obamacare will not make health care afofrdable and now the Journal admits they are right.

According to a detailed analysis by the National Journal, Obamacare is looking more unaffordable than ever.

For the vast majority of Americans, premium prices will be higher in the individual exchange than what they're currently paying for employer-sponsored benefits, according to a National Journal analysis of new coverage and cost data. Adding even more out-of-pocket expenses to consumers' monthly insurance bills is a swell in deductibles under the Affordable Care Act.

A single wage earner must make less than $20,000 to see his or her current premiums drop or stay the same under Obamacare, an independent review by National Journal found. That’s equivalent to approximately 34 percent of all single workers in the U.S. seeing any benefit in the new system. For those seeking family-of-four coverage under the ACA, about 43 percent will see cost savings. Families must earn less than or equal to $62,300, or they, too, will be looking at a bigger bill.

"In 16 states that HHS studied, premiums were on average almost 20% lower than what the Congressional Budget Office projected," Peters wrote in an e-mail.

Premiums may be lower than predicted, but they're not competitive with what workers are now paying for employer-sponsored care.

On average, a worker paid between $862 and $1,065 per year for single coverage in 2013, according to Kaiser's numbers. For the average family plan, defined as a family of four, insurance cost between $4,226 and $5,284.

Fewer than half of all families and only a third of single workers would qualify for enough Obamacare tax subsidies to pay within or below those averages next year.

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