A new study finds that health insurance premiums will cost less under the Obamacare insurance exchange programs, but consumers could still end up seeing their medical bills rise if they fail to get all the coverage they need.
The Obama administration said the study released by the Kaiser Family Foundation
Thursday showing that state health insurance exchanges will reduce insurance costs more than initially estimated by the Congressional Budget Office is evidence that Obamacare is working the way it was designed, The Washington Times reported
"While premiums will vary significantly across the country, they are generally lower than expected," the Kaiser foundation reported.
But even though premiums may end up being lower than expected on the exchange market, analysts warned that an unintended consequence may be that individuals opt for plans that come with high deductibles. That would mean the consumer, while paying less upfront, would be left with high medical bills in the event that something goes wrong.
"If you really get sick, you're going to have protection that's not too great for the first $2,000," Timothy Jost, a healthcare reform scholar at Lee University School of Law told The Washington Times.
Critics of Obamacare also warn that premium costs could soar as well, depending on how many young people sign up for the program. Many may decide instead to eat the tax penalty, which in many cases will be lower than the cost of buying insurance.
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