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Latest News - October 2014

October 18, 2014
Obamacare 'bronze' plan premiums expected to jump 14% in 2015
Source: The Washington Times
By: Kellan Howell

Obamacare “bronze” plan owners may be in for a shock next year. Investors predict the cheapest healthcare offering under the Affordable Care Act could jump nearly 14 percent in price.

In an analysis of expected rates for the biggest 15 cities in the nation, including Washington, D.C., Investor’s Business Daily reported Friday that the cost for the plan could increase by an average of 13.9 percent for 40-year-old non-smokers earning 225 percent of the poverty level.



Plan owners in Seattle, Wash. will see the biggest price difference. The cost of the bronze plan, after subsidies, will jump by 64 percent, from $60 to $98 per month.

In Providence, R.I., the plan cost is expected to soar from $72 to $99 per month, from $88 to $111 in Los Angeles, $100 to $122 in Las Vegas, and $97 to $114 in New York.

Millions of people who did not enroll in ObamaCare last year are expected to sign up for a plan during the open enrollment session in 2015, but the increase in pricing could negatively impact that enrollment.

Some potential enrollees could opt out of their plans because of the double-digit cost increases, and younger enrollees may chose emergency “catastrophic” plans available to those under 30. However, if younger enrollees opt for emergency care plans, they are then grouped separately, leaving the a main insurance pool filled with relatively older and more costly participants.

 

 


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