Today’s Washington Examiner posted a story about the affect ObamaCare will have on the cost of health insurance for Americans. The healthcare exchanges under ObamaCare are expected to begin on October 1.
Senator Alexander’s findings are reported in the article:
— Today, a 27-year-old man in Memphis can buy a plan for as low as $41 a month. On the exchange, the lowest state average is $119 a month — a 190 percent increase.
— Today, a 27-year-old woman in Nashville can also buy a plan for as low as $58 a month. On the exchange, the lowest-priced plan in Nashville is $114 a month — a 97 percent increase. Even with a tax subsidy, that plan is $104 a month, almost twice what she could pay today.
— Today, women in Nashville can choose from 30 insurance plans that cost less than the administration says insurance plans on the exchange will cost, even with the new tax subsidy.
— In Nashville, 105 insurance plans offered today will not be available in the exchange.
Said the Republican senator, “Why should a 27-year-old male in Memphis be forced to pay nearly three times more than what he pays today for health insurance? Why should a young woman in Nashville have to pay twice as much? This isn’t what President Obama promised Tennesseans, but it’s what he’s giving them — higher costs and less choice — that are two of the most urgent reasons Obamacare must be repealed and our health care system fixed.”
There are some states where the cost of insurance will be lower than earlier projections–note that the cost is not lower than current premiums, but lower than earlier projections.
ObamaCare is not ready for prime time. It needs to be delayed, amended, and moved toward a free-market plan. As it is currently formulated, it will fail.