Insurance Q&A

March 29, 2013

Second study this week shows ObamaCare will drive up premiums

Filed under: health,healthcare,healthcare reform,Obama,obamacare — rrroark @ 6:15 pm

The Society of Actuaries had already released its analysis of the damage that ObamaCare will do to health-insurance costs, and HHS Secretary Kathleen Sebelius had already admitted that prices would go up as government forced people to buy bigger comprehensive policies. CNN even went so far as to ask whether Barack Obama and his administration had “misled” voters over the costs of ObamaCare.

This study, though, is actually separate from the SoA’s analysis.  The state of California commissioned this new study for its state exchange to determine the impact of ObamaCare, and it matches closely to the SoA conclusion:

A study commissioned by the State of California says that the new federal health care law will drive up individual insurance premiums, but that subsidies will offset most of the increase for low-income people.

The study, issued Thursday in the midst of a growing national debate over the impact of the law, is significant because California is far ahead of most states in setting up a competitive marketplace, or exchange, where people can buy insurance this fall.

Premiums could increase by an average of 30 percent for higher-income people in California who are now insured and do not qualify for federal insurance subsidies, the study said.

via Second study this week shows ObamaCare will drive up premiums « Hot Air.

via Second study this week shows ObamaCare will drive up premiums.

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