The CBO pointed out that the legislation would lower premiums by 56 to 59 percent for those individuals who would receive subsidies to buy insurance on the exchange created by the legislation. This will be about 17% of the marketplace. Most other Americans should get ready for a premium hike.
From The Hill:
Individual insurance premiums would increase by an average of 10 percent or more...
"CBO and JCT estimate that the average premium per person covered (including dependents) for new nongroup policies would be about 10 percent to 13 percent higher in 2016 than the average premium for nongroup coverage in that same year under current law...
2 comments:
1) This only applies to people who buy their own insurance, not to people who get it through work, as the vast majority of people who currently have insurance do. Small group and large group would experience 0.5 to 1.5% premium growth, which is *lower* than the current rate of growth. 2)10% growth before 2016 is much lower than the current 30% *per* *year* in the individual market.
I think you misunderstand what the CBO is doing. They are not saying insurance will not go up for the next 6 years. They are only analyzing the impact the Democrats health insurance reform would have to change that number up or down. For 14 million that number is going to be 10~13% higher.
http://www.cbo.gov/ftpdocs/107xx/doc10781/11-30-Premiums.pdf
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