Premium Increases Under Obamacare May Be Overstated
By Drew Armstrong - Aug 29, 2013
Predictions of sharp increases in health-insurance premiums for people getting coverage under the U.S. Affordable Care Act have been overstated and many states will see little to no change, researchers at Rand Corp. found.
Out-of-pocket premiums for most individuals who buy health plans through new insurance exchanges will decline because of federal tax credits, the Arlington, Virginia-based research group said in a report today. The researchers looked at insurance markets in 10 states to project how costs would rise or fall as core parts of the 2010 health law kick in next year.
“Rates for policies in the individual market are likely to vary from state to state, with some experiencing increases and some experiencing decreases in cost,” Christine Eibner, a Rand senior economist and the study’s lead author, said in a statement. “But our analysis found no widespread trend toward sharply higher prices in the individual market.”
Starting Oct. 1, people without health insurance will be able to sign up for coverage through insurance marketplaces, called exchanges, in each state. The health law requires that all Americans obtain insurance by next year or pay a fine.
The Rand study was conducted on behalf of the U.S. Health and Human Services Department and looked at insurance rates in Florida, Kansas, Louisiana, Minnesota, New Mexico, North Dakota, Ohio, Pennsylvania, South Carolina and Texas.
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http://www.bloomberg.com/news/2013-08-29/premium-increases-under-obamacare-may-be-overstated.html
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