By Christine Vestal, Stateline
Jun 05, 2013
Consumers want to know: Will health insurance cost more, less, or about the same on the new health insurance exchanges?
Politicians, for their own reasons, have the same question about the impact of the Affordable Care Act on insurance in 2014.
California recently announced the prices of plans that have been approved for the exchange. Surprising to many, the 2014 rates are substantially lower than comparable plans on the market today, according to Covered California, which runs the exchange.
That’s good news for Californians and for the Obama administration.
Critics of the federal health law have long predicted that its new insurance regulations – such as the requirement that carriers cover people with pre-existing conditions – will cause premium “rate shock.” Proponents counter that the law contains market protections that should keep prices in check. In addition, low income people will receive subsidies to defray higher prices.
Nationwide, the price that uninsured Americans will have to pay for coverage in 2014 will vary widely from state to state. Although early news on premium prices from a handful of states is mostly promising, critics maintain that when exchanges open in all 50 states, the picture may be very different.
Continue at:
http://www.kaiserhealthnews.org/Stories/2013/June/05/Stateline-FAQ-online-insurance-marketplace-costs-exchanges.aspx?p=1
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