Government

Premium increases? No problem says HHS🤑

According to a HHS release:

An estimated 73 percent of HealthCare.gov consumers could still purchase a plan for less than $75 per month, even if all final rates were to increase by double digits

Since the Affordable Care Act became law, health care prices have risen at the lowest rate in 50 years, and premiums for the 150 million Americans with employer-sponsored insurance have grown at some of the slowest rates on record. Today, a new HHS analysis finds that HealthCare.gov consumers would continue to have affordable coverage options, even if all Marketplace final health insurance premium rates were to increase by double digits next year. In a hypothetical scenario where all rates increase by 25 percent, the vast majority of consumers (73%) would be able to purchase coverage for less than $75 per month, according to today’s report. All Marketplace premiums will be finalized and public in October.

“Headline rate increases do not reflect what consumers actually pay,” said Kathryn Martin, Acting Assistant Secretary for Planning and Evaluation. “Our study shows that, even in a scenario where all plans saw double digit rate increases, the vast majority of consumers would continue to have affordable options.”

Hey, headline prescription drug prices do not reflect what most consumers actually pay either, but that doesn’t seem to click with the press or political left. But more to the real point … Headline rate increases do reflect what taxpayers pay to subsidize coverage so consumers can pay only $75 per month. Sooooo… the ever increasing cost of health care among the insured population in Obamacare is not all that affordable after all. 

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