Obamacare FAIL: Half of Americans can’t afford more than $100 per month for health insurance

Friday, October 6, 2017
By Paul Martin

by: JD Heyes
Friday, October 06, 2017

A new survey has found that millions of American families who have been under severe financial strain thanks to skyrocketing health insurance premiums caused by Obamacare cannot afford more than $100 per month for a plan, though they are paying much more.

As reported by the Washington Free Beacon, the survey — conducted by HealthPocket — said the number of Americans who cannot afford to pay more than a hundred bucks per month is about 50 percent:

The group asked 1,225 survey respondents in September what was the highest monthly premium they could afford to pay for health insurance in 2018. While 50 percent said they could afford $100 a month or less, 19 percent said they could afford $200 a month.

Just nine percent of respondents said they could handle premiums of $300 per month, and six percent said they could afford $400 per month. Five percent could pay $500 a month and 11 percent could pay more than $500 per month.

The report noted further that for the current year, a 40-year-old non-smoker is paying an average monthly premium of $350 for the so-called “Bronze” plan in the Obamacare exchanges, $411 for the “Silver” plan, $522 for the “Gold” plan and $623 for the “Platinum” plan.

And those are at all-time highs; average premiums in 2017 have increased by double digits, from 15 to 22 percent. Furthermore, there is already concern they will rise even more next year.

“These survey results come at a time when there is still uncertainty and anxiety regarding 2018 rates for Affordable Care Act health plans,” the survey says. “Unsubsidized consumers continue to carry the greatest concerns. Unlike consumers who have their monthly premiums limited to a fixed percentage of their income, unsubsidized consumers face the full list price of health insurance.”

The survey report also found that while about 83 percent of Obamacare exchange enrollees are getting subsidized by taxpayers and the average premium cost in 2017 after subsidies are factored in was $106, there are still enrollees that don’t get any subsidies at all. For them, average unsubsidized monthly premiums cost about $489, which is like paying for another new car.

“The survey findings present politicians with the question of what changes in regulation as well as healthcare delivery strategies could produce $100 a month insurance plan for the average American,” noted Kev Coleman, head of research and data at HealthPocket.

The Rest…HERE

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