Wednesday, September 25, 2013

Affordable Care Act? Obamacare doesn't look cheap at all to me

Now the information is starting to come out.  How much will Obamacare cost you?

The new Affordable Healthcare Plan has plans are organized in five tiers with different monthly premiums and out-of-pocket costs: catastrophic coverage, bronze, silver, gold and, in some areas, platinum.

Wow this doesn't sound like the best deal to me.  For just a middle tier silver plan the average cost will be $330 per month. $4000 per year.  That is just for an average health plan.  If you want something actually any good jack that cost way up.  But wait.  The mid and lower tier plans only cover an average of 65% of your actual healthcare costs.  So you pay $4000 per year and will still have 35% liability up to the cap.

If you are unlucky enough to live in a state such as Wyoming or Mississippi bump that cost up another $2000 per year! Wait.  There's more.  The deductibles are super high.

This is clearly not cheaper at all.  A couple of examples for 27 year olds.  Currently in Tennessee a plan costs $41 a month.  Under Obamacare that coverage will cost $119 a month.  190% increase.

To buy the worst plan offered in Texas for a 27 year old will cost $2500 per year.  For the worst plan!  Why would a perfectly healthy 27 year old pay that?  Just pay the $95 penalty instead of the $2500 and pocket the rest.  If you need healthcare just go buy it anytime.  You cannot be denied coverage for ayn reason.  It makes no sense to buy Obamacare at all for a young, healthy American.

The only people this will be a good deal for will be the super poor that will get coverage for free.  The rest of us will have to pay for it.  And we wonder why the polls on Obamacare are so poor?

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