Florida Obamacare premiums soar to $40,000 for a family of 4

[Peter1469]

Florida Obamacare premiums soar to $40,000 for a family of 4

No wonder O-care is failing. And their are plenty of other stories about people forgoing medical care because the cost is too high.

We need free market reforms to control health care costs.

The Reiters buy their own coverage, but they earn too much to qualify for financial aid to lower their monthly premiums. For 2017, they bought a plan off the exchange and paid $26,000 in premiums for family coverage, including their two sons, ages 21 and 17.Keeping the same coverage for 2018 would have cost the Reiters $40,000 in premiums, a 54 percent increase. So they selected a lower-priced plan that covers less but costs $29,000 in premiums.

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“That’s more than a lot of people’s mortgage payments,” Richard Reiter said. “For me, it’s a crisis situation.”



Read more here: http://www.miamiherald.com/news/heal...#storylink=cpy

[Agent Zero]

Florida Obamacare premiums soar to $40,000 for a family of 4

No wonder O-care is failing. And their are plenty of other stories about people forgoing medical care because the cost is too high.

We need free market reforms to control health care costs.

They're not paying 40k for their insurance. Think back...didn't I tell you this would happen?

So they selected a lower-priced plan that covers less but costs $29,000 in premiums.

And the reason(s)?

Corlette said she read through actuarial reports filed by health insurers to justify their rate hikes for 2018 coverage and found a common theme: uncertainty about the future of the health law.
“Insurers do not like uncertainties,” she said, “and the uncertainty swirling around the future of this market is going to cause them to hike the premiums.”
The cause for uncertainty has been relentless, Corlette noted — from Congress’ failed attempts to adopt legislation that would repeal and replace the ACA, to President Donald Trump’s repeated remarks about the implosion of Obamacare, to executive actions that canceled a key subsidy for low-income Americans.
Like many ACA insurers, Florida Blue said it raised rates by 20 percent just to account for the president’s canceling the subsidy that helps low-income consumers cover their out-of-pocket costs, such as deductibles and copayments.
And rates could spike even higher if Congress and the president repeal the individual mandate that requires eligible Americans to buy health insurance or pay a fine. The nonpartisan Congressional Budget Office reported that repealing the mandate would lead more people to drop coverage, resulting in higher premiums.
45%Average premium increase for 2018 Affordable Care Act coverage sold on healthcare.gov in Florida



Corlette estimated that repealing the ACA’s individual mandate could cause insurers to raise premiums by 10 percent.

[Peter1469]

They down-graded to avoid the $40K premium. Don't misrepresent the OP.

O-care was fundamentally flawed and predictably created this mess.

They're not paying 40k for their insurance. Think back...didn't I tell you this would happen?




And the reason(s)?

Corlette said she read through actuarial reports filed by health insurers to justify their rate hikes for 2018 coverage and found a common theme: uncertainty about the future of the health law.
“Insurers do not like uncertainties,” she said, “and the uncertainty swirling around the future of this market is going to cause them to hike the premiums.”
The cause for uncertainty has been relentless, Corlette noted — from Congress’ failed attempts to adopt legislation that would repeal and replace the ACA, to President Donald Trump’s repeated remarks about the implosion of Obamacare, to executive actions that canceled a key subsidy for low-income Americans.
Like many ACA insurers, Florida Blue said it raised rates by 20 percent just to account for the president’s canceling the subsidy that helps low-income consumers cover their out-of-pocket costs, such as deductibles and copayments.
And rates could spike even higher if Congress and the president repeal the individual mandate that requires eligible Americans to buy health insurance or pay a fine. The nonpartisan Congressional Budget Office reported that repealing the mandate would lead more people to drop coverage, resulting in higher premiums.
45%Average premium increase for 2018 Affordable Care Act coverage sold on healthcare.gov in Florida



Corlette estimated that repealing the ACA’s individual mandate could cause insurers to raise premiums by 10 percent.

[Kacper]

My health insurance premium passed my mortgage payment for the first time this year. One day I hope to have a heart attack so I can get my investment back.