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  1. #1
    Senior Member JohnDoe2's Avatar
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    What will your Obamacare premium be? Numbers are in for 17 states

    What will your Obamacare premium be? Numbers are in for 17 states

    So far, premiums are coming in a bit lower than was anticipated by the Congressional Budget Office, according to a new report. That doesn’t mean Obamacare is cheap, but worries about massive cost spikes may be overblown.

    Mark Trumbull 15 hours ago
    If you live in California, Ohio, or Connecticut, you can now look up what health insurance will cost on the new Obamacare exchanges.
    If you live in Florida, Illinois, or Texas, you don’t know yet, even though President Obama’s Affordable Care Act calls for the exchanges to be up and running in less than a month.
    That’s one reason the debate over Obamacare’s impact on health insurance costs is still unsettled. Not all the data are in.

    RECOMMENDED: How much do you know about health-care reform? Take our quiz!

    But the Kaiser Family Foundation weighed in Thursday with a report on some 17 states, plus the District of Columbia, that have unveiled their pricing.
    The report concludes that, from the numbers that are in so far, premiums are coming in a bit lower than was anticipated by the Congressional Budget Office. That doesn’t mean health care under the Obama reforms is cheap, but worries about massive cost spikes may be overblown.
    As individuals around the nation prepare for the law’s mandate to have insurance in 2014, or pay a tax penalty, the Kaiser report compiles the states’ figures into comparative tables.
    Monthly premiums for a single 40-year-old with an income of $29,000 would be $201 in Portland, Ore., for a typical “silver” plan offered by insurers. In New York City, that same plan would be $390. (Plans are labeled gold, silver, or bronze based on how much the buyer will have to pay out of pocket. A gold plan costs more in premiums but has lower deductibles.)

    Now here’s the Obamacare twist: Since the income for that 40-year-old is less than four times the poverty rate, government subsidies will kick in that bring the individual’s cost down to $193 per month in both places. It’s also $193 in Hartford, Conn., and in Los Angeles.

    The subsidies, however, phase out entirely for households above four times the poverty level. Those buyers will feel the full impact of price variations – with the New York City insurance shopper owing more than the one in Oregon.
    “While premiums will vary significantly across the country, they are generally lower than expected,” the authors of the Kaiser report write. “For example, we estimate that the latest projections from the Congressional Budget Office imply that the premium for a 40-year-old in the second lowest cost silver plan would average $320 per month nationally. Fifteen of the eighteen rating areas we examined have premiums below this level….”
    The report also indicates that there will be greater consumer choice in some states than in others.
    California, Ohio, New York, Oregon, and Colorado will each offer residents a choice among 10 or more insurance providers.
    Nebraska, Indiana, Connecticut, and Vermont have fewer than five insurers on their statewide exchanges.
    “The current individual insurance market is highly concentrated, with a single insurer dominating at least half the market in 30 states and the District of Columbia,” the report concludes. “That is not likely to change immediately, though the ease of purchasing through exchanges and guaranteed access to coverage regardless of health status should make it easier for consumers to switch plans.”
    The report shies away from making comparisons of insurance costs “pre” and “post” Obama reforms. For one thing, the law mandates a whole different approach to insurance in which individuals, for example, can’t be asked to pay sky-high prices because of preexisting medical conditions.
    RECOMMENDED: How much do you know about health-care reform? Take our quiz!

    Related stories


    Read this story at csmonitor.com

    http://news.yahoo.com/obamacare-premium-numbers-17-states-002915450.html
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  2. #2
    Senior Member JohnDoe2's Avatar
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    Blue Cross NC announces prices for ACA plans

    Blue Cross Blue Shield NC announces individual pricing plans under Affordable Care Act

    Associated Press – 20 hours ago

    CHAPEL HILL, N.C. (AP) -- North Carolina's largest health insurer is telling consumers how much it will charge individuals under terms of the Affordable Care Act. Blue Cross and Blue Shield North Carolina announced Thursday that it will offer 26 plans on the health insurance exchange. Prices will range from as little as $145.18 for a 25-year-old subscriber to one of two catastrophic plans, up to nearly $594 for one of six plans for a 60-year-old.

    A news release from the provider said catastrophic plans will have higher deductibles and will be available for consumers under age 30 and those who get what is described as "hardship exemptions."

    Blue Cross has opened at least a half-dozen offices across the state to educate people about the ACA. It will begin enrollment in October.

    "The ACA will make coverage available to many who have never had it and will enhance benefits for most consumers. These are good things, but they come at a cost," said Patrick Getzen, BNBSNC vice president and chief actuary.

    "After the impact of subsidies, we expect about two-thirds of our individual customers will see the amount they pay for coverage increase similar to previous years - or they may pay less," Getzen said. "The remaining one-third of our customers will see fairly substantial increases due to the requirements of the ACA."

    http://finance.yahoo.com/news/blue-cross-nc-announces-prices-200908620.html
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  3. #3
    Senior Member JohnDoe2's Avatar
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    Senior Member JohnDoe2's Avatar
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    Minnesota boasts of low coverage costs under Obamacare

    By Tom Howell Jr.
    The Washington Times
    Friday, September 6, 2013

    Minnesota’s insurance officials said Friday the state will offer some the lowest health insurance rates in the country on the state health exchange it will launch this fall to satisfy a key pillar of President Obama’s new health care law.

    The Midwestern state is the latest to reveal how much Americans without employer-based insurance can expect to pay when they enter the exchanges to buy private coverage under the Affordable Care Act.

    SEE ALSO: Republicans question cost of Obamacare price break for unions

    MNsure is pleased to offer Minnesotans a wide array of plans with some of the lowest premiums in the country,” said Brian Beutner, chairman of MNsure’s board of directors.
    Under the law, insurers no longer can reject consumers with pre-existing conditions and must cover maternity and mental health services, causing fears that premiums could soar if risk pools are not balanced with young and healthy enrollees.

    The Minnesota Dpeartment of Commerce said a 25-year-old nonsmoker in the Twin Cities area can get a low-level bronze plan for about $90 a month, and a higher-level silver plan for $120 a month.

    Plans for 40-year-olds range from $115 at the bronze level to a $192 platinum plan, and from $244 to $407 for a 60-year-old.

    The figures do not take into account income-based government subsidies that many enrollees will obtain to further defray the costs of their premiums.
    Minnesota officials pitched the rates as welcome news and proof that President Obama’s signature reforms will help many residents gain access to affordable health coverage for the first time.

    However, they are unlikely to persuade Republican critics of the law who say the government overstepped its bounds by forcing Americans to purchase health care coverage.

    Congressional Republicans point to states where studies suggest premiums will rise, including Georgia, Indiana, Ohio and Wisconsin. And a breakaway group of conservative lawmakers plans to use an upcoming budget showdown to defund the law before it takes hold.

    A study released Thursday by the Kaiser Family Foundation said insurance plans in Obamacare’s state exchanges will cost less than initially projected.
    Analysts said the low prices are attractive but could come with an unintended consequence of enticing consumers to buy plans with less coverage than they need, which could leave them with bigger bills if they do need major care.

    http://www.washingtontimes.com/news/...#ixzz2e8nuV8Jk
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