Will you be able to afford “affordable” health care?

Politicians and members of the Obama administration like to casually throw around the promise of affordable health care. They may be creating unfulfillable expectations. The middle class may be in for sticker shock.

The Kaiser Family Foundation has prepared some estimates for 2014.

A family of four earning $75,000 will pay $7,125 in annual premiums and as much as $8,333 in co-pays and deductibles, according to a preliminary estimate by the Kaiser Family Foundation. A single 40-year-old earning $30,000 will pay $2,509 in premiums and as much as $3,125 in cost sharing. For a 60- year-old making $40,000, the amount will be $3,800 in premiums and up to $4,167 in out-of-pocket costs.

How do you spell “affordable”

It appears that affordable is at least 15% of ones income AFTER a government subsidy.

And just as an aside, but I suppose related to these promises:

Ten percent of Americans rate the honesty and ethics of members of Congress as very high or high, above only car salespeople on a list of 22 professions. Medical professionals and engineers receive their best ratings on record.
Read more at GALLUP.com.

2 comments

  1. The two larger misrepresentations here are:
    On healthcare.gov, you can still find charts and statements today that confirms that the average family will save $2,000 a year, compared to what they would have spent without PPACA, even if they do not enroll in exchange based coverage or don’t receive a taxpayer subsidy!
    “Affordable”, “minimum essential coverage” may include a plan with a $6,250 single / $12,500 family deductible (100% thereafter) with an employee contribution of more than 10% of take home pay for single coverage (e.g., if the employee makes the federal minimum wage of $7.25, works 40 hours a week, his contribution for single coverage would be approximately $120 a month, AND, if he selected family coverage, assuming $350 single and $900 family, would be $670 a month) – not exactly what Americans believe they were promised in terms of “affordable, quality care”.

    Finally, those taxes you mentioned in other posts and the cost shift from massive new enrollment in government sponsored plans that do not cover the cost of services delivered, will also RAISE, not lower costs for Americans who obtain coverage through an employer-sponsored plan.
    Who will they blame when the promised savings and value are not achieved? It will be insurers, corporations, employers, all… the sponsors in this legislation will continue to tout it as a massive success and will NOT shoulder any blame for the shortcomings of this law.

    Like

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