Author Topic: ObamaCare will lead to much higher out-of-pocket expenses  (Read 434 times)

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Offline pjohns

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ObamaCare will lead to much higher out-of-pocket expenses
« on: October 14, 2013, 09:43:04 PM »
For those who are unfamiliar with Chicago's daily newspapers, the Chicago Sun-Times is the Windy City's more conservative entry into the field.

But it was the Chicago Tribune which noted the following, in an October 13 editorial:

To promote the Oct. 1 debut of the exchanges, the online marketplaces where consumers can shop and buy insurance, Obama administration and Illinois officials touted the lower-than-expected monthly premiums that would make insurance more affordable for millions of Americans. But a Tribune analysis shows that 21 of the 22 lowest-priced plans offered on the Illinois health insurance exchange for Cook County have annual deductibles of more than $4,000 for an individual and $8,000 for family coverage.

Those deductibles, which represent the out-of-pocket money consumers must spend on health care before most insurance benefits kick in, are higher than what many consumers expected or may be able to stomach, benefit experts said.

By comparison, people who buy health insurance through their employer have an average individual deductible of just more than $1,100, according to the Kaiser Family Foundation.

Although millions of Americans will be eligible for federal assistance to help offset some of those costs, millions will not, underscoring one of the trade-offs wrought under the law's goal to ensure most people have access to health insurance.

It offered the following example:

If the 33-year-old single father [Adam Weldzius, who is a nurse practitioner] wants the same level of coverage next year as what he has now with the same insurer and the same network of doctors and hospitals, his monthly premium of $233 will more than double. If he wants to keep his monthly payments in check, the Carpentersville resident is looking at an annual deductible for himself and his 7-year-old daughter of $12,700, a more than threefold increase from $3,500 today.

Here is the link:  Affordable Care Act: High deductibles could pinch consumers - Chicago Tribune

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