This Oct. 11, 2012 file photo shows a basket of medical supplies await storage in Brookhaven, Miss. The No. 1 question about President Barack Obama's health care law is whether consumers will be able to afford the coverage. Now the answer is coming in: The biggest study yet of premiums posted publicly by states finds that the sticker price will average about $270 a month if you're a 21-year-old buying a mid-range policy. That's before government tax credits that will act like a discount for most people, bringing down the cost based on their income. (AP Photo/Rogelio V. Solis, File)
Coverage under President Barack Obama's health care law won't be cheap, but two independent private studies show that cost-conscious consumers hunting for lower premiums will have plenty of options.
A study released Thursday by the nonprofit Kaiser Family Foundation found that government tax credits would lower the sticker price on a benchmark "silver" policy to a little over $190 a month for single people making about $29,000, regardless of the person's age.
By pairing their tax credit with a stripped-down "bronze" policy, some younger consumers can bring their premiums down to the range of $100 to $140 a month. Older people can drive their monthly cost even lower—well below $100—if they are willing to take a chance with higher deductibles and copays.
Citation:
Studies take early look at health law's premiums (2013, September 4)
retrieved 23 April 2024
from https://medicalxpress.com/news/2013-09-early-health-law-premiums.html
This document is subject to copyright. Apart from any fair dealing for the purpose of private study or research, no
part may be reproduced without the written permission. The content is provided for information purposes only.
