What is Obama Care

Obamacare Plan Costs

So, how much will Obamacare Healthcare insurance really cost me?  There is so much … hmmm….. misinformation and conjecture and, yes, lets face it, politically motivated b*llsh*t that it is difficult to cut through it all and answer that question.  Us vs. Them. Red vs. Blue.  Go team go. Gotta love it America.  So lets try to get some facts.

In New York, on Monday July 17th, Governor Cuomo announced  the state has approved the rates for 17 insurers who will offer insurance in that state through the New York Health Benefits Exchange. These rates are for 2014.  On average, the price for individual plans of the highest catagories (gold and silver) will drop by about 53%.   These rates do not take into account the financial assistance that individuals will receive if income is below 400% of the federal poverty level ($45,960.00 or $94,200.00 for family of four). This will further reduce the cost.  Enrollment will begin on October 1, 2013 for coverage that will be effective January 1, 2014.  As reported in CNN Money, the cost of the ‘silver’ plan in Manhattan will be as low as $359 while currently the least expensive plan is $1001.  Rates will vary from region to region within the state. And, again, these rates do not reflect the assistance in the form of a tax credit for individuals and families below a certain income level.

In California, as announced on May 23rd, the average cost for a ‘silver’ plan will be about $304.00 per month.  This price doesn’t include the tax credit for lower incomes. Covered California, he state based exchange, opens for enrollment in October.  Insurers including Blue Cross Blue Shield and Kaiser Permanente will offer up to13 plans, depending on the region. Covered California also commented that a direct cost comparison is difficult because new plans provide more benefits.

Oregon’s exchange is known as Cover Oregon. The rates for 2014 were made available in early June. The prices and plans are being reviewed to make sure they comply with requirements of the Affordable Care Act. Individual plans will be offered by 12 companies; small group plans by 8. Rates will vary by region within the state.  In Eugene using a silver plan for example, rates for an individual, age 21, non-tobacco user, range from $176 to $297.   At age 60 these plans range from $477 to as high as $1070.

Only 16 states and the District of Columbia are running their own exchanges; the 34 other states will be the federally run exchange.  In Indiana, for example, rates are expected to rise for an individual from $255 in 2012 to $570 in 2014 according to Logan Harrison, chief deputy commissioner with the Indiana Department of Insurance under Republican Gov. Mike Pence. New taxes and fees under the law also contributed, Harrison said.
A Health and Human Services official said the states projections are misleading because the federal government hasn’t yet approved the plans.  Oops, sorry, sounds like political BS. Get out your hip boots and shovel. Lets wait until the Federally Run Exchange releases rates and plans.  Until then, try to ignore all the partisan squabbles.

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