WASHINGTON (AP) — Millions of people who pay the full cost of their health insurance will face the sting of rising premiums next year, with no financial help from government subsidies.
Renewal notices bearing the bad news will go out this fall, just as the presidential election is in the homestretch.
“I don’t know if I could swallow another 30 or 40 percent without severely cutting into other things I’m trying to do, like retirement savings or reducing debt,” said Bob Byrnes, of Blaine, Minnesota, a Twin Cities suburb. His monthly premium of $524 is already about 50 percent more than he was paying in 2015, and he has a higher deductible.
President Barack Obama’s health law provides income-based subsidies for consumers who buy individual policies on HealthCare.gov and state insurance markets. About 10 million people get assistance, helping reduce the uninsured rate to a historically low 9 percent.
But there’s no subsidy for those making more than $47,520 for an individual and $97,200 for a family of four – cutoffs that represent four times the federal poverty level. Also, subsidies are not available for consumers at any income level who purchase outside of HealthCare.gov or a state marketplace. Those who remain uninsured risk fines.
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7 comments:
Sad that the imbecile president thinks that anyone making $47,520 can afford 10K in healthcare bills.
and $47,520 is a lie because I made less than that and according to my tax returns did not qualify for a subsidy
Next year I will be flying uninsured. I can no longer afford it. And I can not afford to buy a house because of it.
If we don't get Trump as President there should be a revolt against politicians.
Ha Ha Ha... You Dummies who voted for that illegal Muslim deserve everything you are getting. I am laughing my butt off at you morons!
Anonymous Anonymous said...
Sad that the imbecile president thinks that anyone making $47,520 can afford 10K in healthcare bills.
and $47,520 is a lie because I made less than that and according to my tax returns did not qualify for a subsidy
Next year I will be flying uninsured. I can no longer afford it. And I can not afford to buy a house because of it.
June 13, 2016 at 9:02 PM
Did you vote for the Muslim?
What's really screwed up is that a lot of people are not eligible for subsidies because they could hypothetically get their coverage through a spouse who gets insurance at work. They don't take into consideration how expensive that coverage is. Most spouses buying that insurance would have to pay the full premium price which is excessive.
9:24 I think its obvious that I did not, I didn't say - "that imbecile president I voted for"
Numbers crunching nerds have spent countless days, weeks, and months finding the right levels of income and premiums to guarantee that insurance companies get filthy rich. You think they gave MIILIONS of dollars to "your guy" and didn't want something in return?
Too many people (WAAAAY too many) pay ungodly premiums, continually increasing co-pays, and of course, the "out of pocket expenses".
They HAVE to pay, but can't afford to use it. Which, if one considers it, is the most brilliant of all business plans.
Hillary will make it even BETTER!
Then the revolution happens.
Keep cheering.
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