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|Subject: Obamacare 'Rate Shock' in California||Date: 5/23/2013 10:59 PM|
|Author: intercst||Number: 72264 of 80169|
Insurance rates for the State health care exchange have just been released, with monthly premiums averaging $276/month -- well below insurance actuaries' predictions of $450/month.
The Congressional Budget Office predicted back in November 2009 that a medium-cost plan on the health exchange – known as a “silver plan” – would have an annual premium of $5,200. A separate report from actuarial firm Milliman projected that, in California, the average silver plan would have a $450 monthly premium.
Now we have California’s rates, and they appear to be significantly less expensive than what forecasters expected.
On average, the most affordable “silver plan” – which covers 70 percent of the average subscriber’s medical costs – comes with a $276 monthly premium. For the 2.6 million Californians who will receive federal subsidies, the price is a good deal less expensive, the amount noted in green below.
Good news for retirees without health coverage from a former employer.
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