4 facts about Obamacare premiums you should know before you start freaking out

[babylonsister]

https://thinkprogress.org/facts-obamacare-premiums-d95c40cca001#.lz37ua8pt

4 facts about Obamacare premiums you should know before you start freaking out
Putting the dramatic headlines in context.

snip//

1. Yes, premiums are going up — but so are subsidies.

Critically, Americans won’t need to shoulder Obamacare’s premium increases on their own. Most people who are insured through Obamacare’s state-level marketplaces don’t pay for the full price of their premiums because they get an assist from the government in the form of subsidies. These federal subsidies to help offset the cost of buying insurance are also going to rise. According to the Obama administration, even with the projected increases, more than 70 percent of people buying insurance on the marketplaces will be able to get a plan for less than $75 a month next year — provided they take advantage of the subsidies available to them and select a low-cost plan with more limited benefits than other options.

2. The government expected Obamacare premiums to rise.

Price increases for Obamacare plans aren’t entirely unexpected. The law’s state-level marketplaces are still very new, and were expected to take a few years to find their footing as insurance companies attempt to accurately predict premium costs among a new pool of beneficiaries. In fact, the estimated rates for 2017 rates are about the same level that the Congressional Budget Office predicted they would be when the law was first proposed. Essentially, insurance companies set initial prices for their plans that turned out to be too low, and they’re now course-correcting.

3. The majority of Americans don’t get their insurance through Obamacare plans.

Although some news outlets are characterizing the news about rising premiums as a “November surprise” that could have a big impact on how Americans feel about the upcoming election, the reality is that these price hikes won’t affect the majority of the country. Most Americans get their insurance either through their employer or through a safety net program like Medicaid. A much smaller portion of the population — about 6 percent — buys private insurance plans on Obamacare’s marketplaces.

4. Obamacare needs to be improved, but its opponents keep standing in the way.

The health reform law — essentially, a messy compromise forged between our government and powerful insurance corporations — is certainly not perfect. Lawmakers on both sides of the aisle are worried about premium price increases squeezing Americans, and there’s broad consensus that the Affordable Care Act needs some improvements to help it function better.

But the loudest critics of the law are also the same people standing in the way of meaningful reform. Republicans have consistently pushed to scrap Obamacare altogether — a path forward that would create many more issues than the current premium hikes, seeing as it would leave millions of Americans with no access to affordable health care whatsoever. GOP lawmakers across the country have also blocked Obamacare’s Medicaid expansion provision, preventing the law from insuring additional low-income Americans, and have so far resisted the policy tweaks that Democrats have proposed as avenues to build upon the existing law.

[IADEMO2004]

1. I wish this followed every breathless headline I heard today.

but it didn't. Just GOP Glee. Never enough time for the whole truth.

[RussBLib]

2. great info

I would like to hear from the ACA that the subsidies will be rising to keep pace with the premium increases.

[SHRED]

3. Ours went up a lot.

Silver Blue Shield PPO Covered California.
Our cost after subsidy...$638 this year to over $800 per month next.
No change in income.

We're now looking at a Bronze level.
Well have to downgrade.

[GeorgeGist]

4. 5. The highest healthcare costs in the world ....

are the fault of the provider.