Study predicts 30% premium increase for some Californians who buy their own insurance

Published on March 30, 2013 at 5:03 AM · No Comments

The increases, prompted by the federal health law, will be offset for many people by new federal tax subsidies, the report suggests.

Los Angeles Times: Healthcare Law Could Raise Premiums 30% For Some Californians
About 5 million Californians got a first glimpse at what they might pay next year under the federal healthcare law. For many, that coverage will come with a hefty price tag. Compared with what individual policies cost now, premiums are expected to rise an average of 30% for many middle-income residents who don't get their insurance through their employers (Terhune, 3/28).

The Wall Street Journal: Insurance Prices Could Jump
Premiums for California consumers who buy their own insurance could be sharply higher next year on average because of the federal health-care law, while government subsidies will offset the impact for lower-income people, according to a new report. The report, written by actuarial consulting firm Milliman for Covered California, the agency created by the state government to set up its new health-insurance marketplace, is likely to draw close attention amid a broader debate over the law's effect on insurance rates (Wilde Mathews, 3/28).

The New York Times: Health Care Law Will Raise Some Premiums, Study Says
A study commissioned by the State of California says that the new federal health care law will drive up individual insurance premiums, but that subsidies will offset most of the increase for low-income people. The study, issued Thursday in the midst of a growing national debate over the impact of the law, is significant because California is far ahead of most states in setting up a competitive marketplace, or exchange, where people can buy insurance this fall (Pear, 3/28).

The Associated Press: Study: Some Health Premiums To Rise By 14 Percent
Californians who buy individual health plans will see their premiums increase an average of 14 percent next year under the Affordable Care Act, but payments will largely depend on income, age and where they live, according to a new report released Thursday by California's health care exchange. The report commissioned by Covered California found the increase is largely due to an influx of people who previously could not afford health insurance or were denied coverage because of pre-existing conditions (Lin, 3/28).

San Jose Mercury News: Health Insurance Premiums To Drop Dramatically For Many Californians, Rise For Others Next Year, Study Reveals
Nearly 600,000 Californians who buy health insurance on the individual market will likely see their premium costs plummet dramatically next year when the state unveils its new insurance marketplace, while more than 1 million wealthier residents could see double-digit increases. For the first time, state health leaders on Thursday outlined how consumers will be affected by one of the main features of President Barack Obama's national health reform law: the online insurance exchange, known as Covered California, which will open in October (Kleffmam, 3/28).

Meanwhile, in another look at the effects of the health law on taxpayers --

Read in | English | Español | Français | Deutsch | Português | Italiano | 日本語 | 한국어 | 简体中文 | 繁體中文 | Nederlands | Русский | Svenska | Polski
The opinions expressed here are the views of the writer and do not necessarily reflect the views and opinions of News-Medical.Net.
Post a new comment