Comparing Premiums
Kentucky:
Individual described below does not qualify for Medicaid. Premiums do not include any possible subsidies offered through the ACA.
a. 20 plans available, monthly premiums: $197 to $456 (rounded)
a. 20 plans available, monthly premiums: $227 to $547 (rounded)
Carter County:1. Non-smoker, 47 year old male, 2014 income of $13,000:
a. 16 plans available, monthly premiums: $220 to $482 (rounded)
2. Smoker, 47 year old male, 2014 income of $13,000:
a. 16 plans available, monthly premiums: $253 to $579 (rounded)
At first glance, the premiums look reasonable. Then I honed in on the income level you put in, which make a big difference in my perception. I wonder how those numbers stack up against the average premium costs of employee benefit plans. Still hard to make a direct comparison, though. Too many variables. We keep hearing the ACA will make insurance more affordable to people, but I've not seen how they are backing up that claim. "Accessible," I can see because of the inability of companies to deny for pre-existing conditions, etc. "Affordable" remains to be proven. Those are going to have to be some significant subsidies, significant enough that the fine for not being insured is greater than the premiums because a lot of people won't calculate potential costs of health events in their thinking.
ReplyDeleteI'm sure Canada, France, Norway, Hong Kong, etc. are all laughing their asses off at this mess. Why could we have not just done a single payer system? Oh...right...politics.