Author Topic: Study: Insurance costs to soar under Obamacare  (Read 286 times)

0 Members and 1 Guest are viewing this topic.

Offline pjohns

  • Hero Member
  • ****
  • Posts: 391
Study: Insurance costs to soar under Obamacare
« on: September 29, 2013, 10:40:32 AM »
From CBS/Money Watch:

New research from the Manhattan Institute estimates that insurance rates for young men will rise by 99 percent. Rates for younger women will rise between 55 percent to 62 percent, according to the right-leaning New York think tank.

The precise impact of the new health law is likely to vary markedly from state-to-state, however. That's largely because different states have had different requirements for what had to be included in health insurance policies in the past. The Affordable Care Act, commonly known as Obamacare, overrides these rules and sets a federal overlay that demands a wide array of mandatory coverages. The Manhattan Institute has drawn up an interactive map that may help forecast the rise in cost for individuals.

These differences mean men will get hammered in North Carolina with an average 305 percent rate hike, while women will suffer in Nebraska, paying an average of 237 percent more. For most people, subsidies in the law will not counteract the rate shock, says co-author of the study Avik Roy, a health care expert and senior fellow at the Manhattan Institute.

"You hear all these excuses from the [Obama] administration -- that people are exaggerating the effect of the law," he says. "But real people are getting notices from their insurers now. My blog is flooded with comments from people saying that they just got a huge premium hike."

Oh, for the record, the Manhattan Institute (which conducted the study) is a center-left think tank.

Here is the link to the entire article:  Study: Insurance costs to soar under Obamacare - CBS News

Share me

Digg  Facebook  SlashDot  Delicious  Technorati  Twitter  Google  Yahoo