Watch Out NE Ind. Market, You’re In For a Doozy
What you are about to read may cause fainting, sudden angry outbursts, and shock only treatable with the repeal of ObamaCare. Please sit down.
Avik Roy and colleagues at the Manhattan Institute have released their findings on the individual health insurance markets in states that data is available for. The authors compare the five cheapest plans on the market today with the five cheapest plans available in the ObamaCare exchanges.
Are you sitting? Because here it comes…
Nebraska has the largest increases in each category of all the states in the study. But what does the Department of Health and Human Services have to say after the release of Health Insurance Marketplace Premiums for 2014 Databook? I’ll let Nicole Kaeding, AFP’s State Policy Director, take it from here:
“Just days before the ObamaCare exchanges open for enrollment, the Department of Health and Human Services (HHS) finally released just how much insurance will cost hard-working Americans across the country. It turns out that health care premiums will increase quite dramatically, making this the latest in a long line of ObamaCare’s broken promises.
“…In fact, HHS and Secretary Sebelius are praising ObamaCare saying these premiums are actually less. How could that be?
“Following in the footsteps of the crazy baseline budgeting process here in DC, HHS is actually using baseline health insurance premium analysis. Premiums are less than the Congressional Budget Office originally predicted, so ObamaCare “saved” Americans money. Tell that to the individuals who will be paying more for insurance next year.
“Worse yet, supporters of ObamaCare arguing that the premium increases don’t matter because individuals aren’t really paying these premiums. They’ll receive tax credits that offset the costs. That’s true…for some. Individuals between 100 and 400% of the federal poverty level will received tax credits to assist with the purchasing of insurance. But 400% of the federal poverty level is only $46,000 a year in income for an individual.
Kaeding’s full post can be found here. The point is many people will not have access to the subsidies intended to offset the dramatic increase in costs. Furthermore, the subsidies still come from the tax payers; the money doesn’t magically appear as you well know.
The worst part about all of this is the harm this law has, is, and will cause to Nebraskans. People losing their jobs, not getting enough hours at work, uncertainty from not being able to afford health insurance anymore, and more. The whole country needs to be exempted from this terrible law. Join AFP-NE in telling the Obama Administration that we want an exemption- demand and exemption!