Tags: kaiser | obamacare | cost | afford

Kaiser Foundation: Obamacare Not Affordable for Middle Class Families

Saturday, 08 Feb 2014 02:01 PM

By Sandy Fitzgerald

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Even with subsidies, the cost of Obamacare may be out of reach for many middle-class Americans, warns the Kaiser Family Foundation.

Three million people who earn three to four times the federal poverty rate may have to pay up to 9.5 percent of their income toward health premiums before government subsidies kick in, according to a Kaiser report published by USA Today.

The cost could mean a family of three earning $58,590 to $78,120 may be required to pay as much as $600 a month for Obamacare, and could decide health insurance is just too expensive.

As a result, middle-class families could opt to pay a penalty instead of buying coverage. That could spell trouble for Obamacare because it could leave insurers without enough healthy enrollees to offset the costs incurred by sick ones, warns Kaiser.

Consumers have until the end of March to buy coverage in the online marketplace exchanges, but some families have already started making their decisions.

Half of America's families spent 3.1 percent or less of their income on healthcare before Obamacare took effect, according to a study cited by Kaiser. People who have job-based coverage generally spend less.

But a quarter of households spent 8.2 percent or more of their income on healthcare, including premiums and out-of-pocket costs, and are likely to fall further into medical benefits.

The health law subsidies help lower-income Americans the most. People who earn up to $23,000 yearly for individuals and up to $39,000 for a family of three must pay 2 percent to 6 percent of their income toward monthly premiums.

That goes up to 8 percent for families earning two to three times the poverty rate. People earning more than that, less than 16 percent of all consumers, must pay the highest percentage of their incomes.

Related Stories:

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Tom DeLay: Obama Is a 'Muslim Sympathizer'

Tuesday, 02 Sep 2014 17:23 PM

The reason for President Barack Obama's lackluster response to rising terrorist threats against the United States is tha . . .

Harvard Study: Marijuana Is Addictive Drug

Tuesday, 02 Sep 2014 17:06 PM

Many people believe that marijuana is not addictive, but a new study challenges that theory. . . .

Stocks Slip From All-time High as Energy Producers Stumble

Tuesday, 02 Sep 2014 17:02 PM

U.S. stocks fell, after the Standard & Poor’s 500 Index had its best month since February, as energy producers sank with . . .

Most Commented

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved