Sunday, October 19, 2014

Double Whammy, ObamaTax-style

First the bad news:

"ObamaCare shoppers in search of the lowest-cost plan may come down with a mild case of rate shock when 2015 exchange enrollment begins next month ... the cost of the cheapest bronze plan will jump an average of 13.9%"

Remember when we were promised that we'd have 3000% rates decreases?

Good times, good times.

But wait, it gets better worse:

Turns out, the folks who actually buy these plans can't afford to use them:

"[E]ven among those who receive enough subsidy money from the rest of us to offset the high premiums, killer deductibles make their coverage much more expensive in practice, to the point of rendering them virtually useless."

It's simple mathematics, after all: thousands (perhaps tens of thousands) of dollars in premium plus thousands ((perhaps tens of thousands) in out-of-pocket costs means that a lot of folks now can't afford to use the insurance they scrimped and saved to buy.

But hey: so much better than the old system, no?
blog comments powered by Disqus