New California Covered health insurance exchange releases rate calculator
by Brian Leubitz
The California Covered health insurance exchange released their rates this morning, and as you would expect, they are still pretty high.
For a relatively basic policy, known as a “silver” plan, the total monthly premium in the Sacramento region for a 40-year-old single individual would range from $332 to $476, with federal subsidies on a sliding scale for people with incomes up to $45,960. Individuals eligible for the highest subsidy, $276 per month, would face out-of-pocket expenses of $56 for monthly premiums.
Under next year’s controversial national health-care mandate, often called Obamacare, nearly all Americans will be required to have health insurance next year or pay a fine of $95 or 1 percent of their annual income, whichever is more.(SacBee)
Now, this is still likely cheaper, and far less confusing, than what you would have found on the open individual market. But clearly more needs to be done to control health care costs, or the yearly rate increases will be unsustainable for all but the most wealthy.
The California Covered website has a nice calculator for what your general costs will be on the exchange, and a PDF table of benefits for the four levels of coverage.
ObamaCare (aka RomneyCare II) is certainly an improvement over the Wild-West Profiteers of before. No discriminating against pre-existing conditions.
Best of all, it gets people talking about the issue and, might, perhaps, make the majority realize that the bigger the pool, the better.
But, I see huge practical problems, too. The biggest is that even at capped rates, insurance will be too costly for many people to bear paying. We might see many — especially “young (they think) immortals” — paying penalties instead. For someone barely getting by, even a payment of $59 a month will be too much. And if you’re making $90K and have a lot of debts, that unsubbed rate could be way too much.
And, other states like Mississippi? Well, this is a California forum, but I toss that out as food for thought.
Maybe the best thing could be to show that the Canadians and the Australians have a good deal and that we could and should emulate them. And get rid of private insurers, who spend beaucoup person-hours trying not to cover you. After you’ve paid.
Prop 13, 2014, anyone? Everyone in California covered by health insurance, without private insurers, a la Canada.
These will be exciting years, in the Chinese sense.
This looks like a pretty good deal
I’m a little surprised
But, this does seem to make Health Insurance a little more affordable for moderate/low income people
The fact that this is available to all people with pre-existing conditions makes it even more remarkable
Bravo, President Obama
I’ve been down on you for your mediocre record in office
But, this seems like a real achievement
Good Job
I guess I will stay where I am. Under the exchange, my premiums go up about 70%.
did the Legislature stop trying to pass a single payer plan once they lost Schwarzenegger’s guaranteed veto? that would be a standard Democratic Party move.