ObamaCare analysis shows higher premiums on state exchanges

ObamaCare premiums

The so-called “Affordable Care Act” has proven to very unaffordable for many Americans who will see higher insurance premiums on the health insurance exchanges that they would from employer-based coverage, according to an analysis by the National Journal:

For the vast majority of Americans, premium prices will be higher in the individual exchange than what they’re currently paying for employer-sponsored benefits, according to a National Journal analysis of new coverage and cost data. Adding even more out-of-pocket expenses to consumers’ monthly insurance bills is a swell in deductibles under the Affordable Care Act.
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Whether the quality of care in the new market is comparable to private offerings remains to be seen. But one thing is clear: The cost of care in the new market doesn’t stack up. A single wage earner must make less than $20,000 to see his or her current premiums drop or stay the same under Obamacare, an independent review by National Journal found. That’s equivalent to approximately 34 percent of all single workers in the U.S. seeing any benefit in the new system. For those seeking family-of-four coverage under the ACA, about 43 percent will see cost savings. Families must earn less than or equal to $62,300, or they, too, will be looking at a bigger bill.

Many employers are pushing workers onto ObamaCare’s state health insurance exchanges rather than see their healthcare costs rise. Some reason that it’s simply cheaper to drop health insurance coverage for employees and pay the employer mandate tax. Employers who are keeping coverage in place are, as the Washington Post notes, just passing the costs along to workers.

The article also quotes one ObamaCare supporter as saying that premiums on the exchanges are lower than predicted. But the National Journal explains, “Premiums may be lower than predicted, but they’re not competitive with what workers are now paying for employer-sponsored care.”

Here’s the breakdown from the National Journal of how much more workers can expect to pay in premiums if they choose ObamaCare’s “silver plan”:

NJ's ObamaCare analysis

It’s one of ObamaCare’s not-so-unintended consequences. Businesses hiring more part-time jobs — at record numbers, in fact — to keep hours below the 30-hour full-time worker threshold and reports that Delta is anticipating $100 million in added healthcare costs next year alone and UPS dropping insurance coverage for spouses serve as other examples of the real world negative impacts of ObamaCare.

 
 


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