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Author: intercst Big funky green star, 20000 posts Top Favorite Fools Top Recommended Fools Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 76237  
Subject: Obamacare 'Rate Shock' in California Date: 5/23/2013 10:59 PM
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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.

http://www.washingtonpost.com/blogs/wonkblog/wp/2013/05/23/c...

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.

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Good news for retirees without health coverage from a former employer.

intercst
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