Tags: Healthcare Reform | obamacare | bronze | plan | increase

Report: Obamacare Bronze Plans to Go Up at Least 14%

By    |   Sunday, 19 Oct 2014 08:33 PM

As the second year of signups is set to begin under the Affordable Care Act, some of the lowest-level plans are increasing by a minimum of 14 percent, Investors Business Daily reports.

The so-called "bronze plans," the lowest tier in the federally mandated Obamacare system, were analyzed for the largest cities in 15 states and the District of Columbia. The least expensive bronze plan will rise an average of 13.9 percent for a 40-year-old non-smoker earning 225 percent of the poverty level of $26,260, IBD reported.

Of the 16 cities studied, Seattle showed the highest average increase in bronze plans. After subsidies, the average cost will rise from $60 to $98 per month – a 64 percent increase.

Other cities with sizable expected increases are Providence, Rhode Island; Los Angeles; Las Vegas; and New York.

Under the ACA, almost all Americans are required by law to purchase health insurance or pay a fine. That leaves many people who previously went without coverage looking for the cheapest plans. The double-digit increase in prices for bronze plans could hurt enrollment, Investor's noted.

More enrollees in the federal and state exchanges are expected this year, but higher rates could force them out, or in the case of those under-30, to go for lower-cost catastrophic coverage. That would raise the costs – and premiums – for the rest of the pool, which would then be older and more likely to need medical treatment.

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As the second year of signups is set to begin under the Affordable Care Act, some of the lowest-level plans are increasing by a minimum of 14 percent, Investors Business Daily reports.
obamacare, bronze, plan, increase
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2014-33-19
Sunday, 19 Oct 2014 08:33 PM
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