The Affordable Care Act is making more of its state exchanges more expensive, particularly the ones in Iowa and Louisiana. Fox News reported:
In Louisiana, 2015 plans will be much costlier, according to The Times-Picayune. Blue Cross Blue Shield of Louisiana, the exchange’s largest insurer, is increasing prices 18.3 percent to 19.7 percent for three different plans. More than 50,000 customers are currently covered by those plans. However, the insurer isn’t hiking rates on customers with narrowed networks in New Orleans, Baton Rouge or Shreveport.
Humana will up its exchange premium rates by 9.9 percent, after backing down from its initial proposal of 15.5 percent. Vantage Health Plan, like Blue Cross Blue Shield, is going ahead with its initial proposal, a 15.89 percent hike.
Iowa also approved large rate hikes Thursday. CoOportunity adjusted its premium hikes up to 19 percent on average. The other top exchange insurer, Coventry will increase rates by 8.7 percent.
It’s funny, because liberals are always accusing conservatives of wanting to throw the elderly and single mothers “under the bus.” But when liberals get their way and pass the bill just so we can find out what’s in it, we find that it’s making healthcare more expensive. For the elderly and single mother alike.
And then of course there’s the individual mandate that requires you to buy this overpriced product from a list of government-approved corporations, under threat of fines.
If you can’t afford to buy the government-mandated product, under Obamacare’s rules, as long as you’re within 400% of the Federal Poverty Level (FPL), you won’t be required to pay more than 9.5% of your income toward health insurance. The subsidy will pick up the difference.
But as soon as you make just over 400% of the FPL, you’ll no longer be eligible for the subsidy, and you’ll have to pay the entire premium yourself, leaving you with less money by the end of the year, even though your income is higher.
So, as long as you don’t make “too much money,” you should be okay.