Post by rmarks1 on Mar 29, 2014 19:42:39 GMT -5
One question" why did they call it the "affordable" care act?
Bob
Obamacare is still struggling to sign up young people. In order to offset the high cost of the older, and probably less healthy people who are joining Obamacare plans, the White House must coerce a sufficient number of thirty-somethings to also join. Problem is, the health plans are too pricey to make economic sense for many young adults.
Just how costly are the Obamacare plans for young beneficiaries?
We ran the numbers. Here are our results:...
Someone, for example, earning $25K annually in Arizona will pay $2,424 in total monthly premiums for Obamacare (10% of their annual income) and still be stuck with a $4,000 deductible and a $5,200 cap on their out of pocket costs. The same person in Illinois will pay $3,576 in annual premiums, and in low cost Texas $2,460.
What about the same 30 year old who now earns $30,000 annually – the average salary for a pre-school teacher according to census data? In Arizona, their annual cost for carrying the Obamacare plan runs $2,772 and their deductible is $5,000. In Illinois, the same person will spend $4,092 for the same health plan, and also have a $5,000 deductible before their full health coverage kicks in.
Even someone earning $20K a year (the average salary for a full-time cashier) and eligible for Obamacare’s rich “cost sharing subsidies” is still going to find coverage pricey. In Pennsylvania, which was the lowest cost of the four states, the annual premium will run $1,620 for a plan that still leaves them with a $600 deductible. In Illinois, that same plan will cost $2,868 annually with the same $600 deductible. Premiums alone will eat up a whopping 14% of their annual income.
www.forbes.com/sites/scottgottlieb/2014/03/28/how-much-does-obamacare-rip-off-generation-x-we-ran-the-numbers-here-are-the-results/
Just how costly are the Obamacare plans for young beneficiaries?
We ran the numbers. Here are our results:...
Someone, for example, earning $25K annually in Arizona will pay $2,424 in total monthly premiums for Obamacare (10% of their annual income) and still be stuck with a $4,000 deductible and a $5,200 cap on their out of pocket costs. The same person in Illinois will pay $3,576 in annual premiums, and in low cost Texas $2,460.
What about the same 30 year old who now earns $30,000 annually – the average salary for a pre-school teacher according to census data? In Arizona, their annual cost for carrying the Obamacare plan runs $2,772 and their deductible is $5,000. In Illinois, the same person will spend $4,092 for the same health plan, and also have a $5,000 deductible before their full health coverage kicks in.
Even someone earning $20K a year (the average salary for a full-time cashier) and eligible for Obamacare’s rich “cost sharing subsidies” is still going to find coverage pricey. In Pennsylvania, which was the lowest cost of the four states, the annual premium will run $1,620 for a plan that still leaves them with a $600 deductible. In Illinois, that same plan will cost $2,868 annually with the same $600 deductible. Premiums alone will eat up a whopping 14% of their annual income.
www.forbes.com/sites/scottgottlieb/2014/03/28/how-much-does-obamacare-rip-off-generation-x-we-ran-the-numbers-here-are-the-results/
Bob