Well, there goes another scare tactic. You know how Obamacare was supposed to EXPLODE (!!!!!!!!) the cost of health insurance? Well, that's not happening.
Health insurers in California will charge an average of $304 a month for the cheapest silver-level plan in state-based exchanges next year, according to rates released Thursday by Covered California, which is implementing the Affordable Care Act there. But many residents will pay a lot less than that for coverage.Factor in the subsidies for those who are eligible (at the start, up to $45,000 for individuals and $92,000 for a family of four) and most will pay a lot less. How much less? Here's an idea.
The least expensive silver plan for a 21-year-old could cost $216 a month, but those earning only 150% of the poverty line (or $17,235 annually) may pay only $44 after receiving federal subsidies. A 40-year-old may pay $276 a month, or $40 after the subsidies.How's California holding the premiums down? One way could be the $5 million we got under the ACA to implement processes to hold insurance companies accountable. Another one of the reasons for California's initial success is that we used the authority in Obamacare to add additional state regulations to hold insurance companies accountable. Of course, being the first state to begin implementation of the Affordable Care Act helped. And even though United, Aetna and Cigna are sitting the first year out, there are no shortage of insurance companies eager to gain new customers. 13 insurers will be participating in California's exchanges (oh noes, socialism!).
California is not the only state that's publishing its rates and dismantling the talking points of the detractors of reform. Oregon and Washington also released their rates, also lower than what many thought.
"Many people will see rates similar to what they're paying now, or in some cases, lower -- and with substantially better benefits," the Washington Insurance Department wrote in a blog post. "We're definitely not seeing the huge rate increases that some insurers had predicted."Is this what the Republicans plan to run against next year? Ahahahahaha. I am soooo amused. Please, my dear Republicans, proceed.
There's a reason why against every warning issued by the Teabaggers and Firebaggers, Obamacare is turning out to be exactly what we have always said it was going to be: a big boon for the middle class and the poor who cannot afford health care in today's market. It was designed that way. It was designed to level the playing field, reduce uncompensated care, provide care for the poorest (through Medicaid), eliminate the worst insurance industry practices, and provide consumers with tools to shop in a marketplace armed with the largest refundable tax credit for health insurance in history.
I will hold to my prediction: Obamacare is the Democrats' not-so-secret weapon in 2014.
Like what you read? Chip in, keep us going.