49-State Analysis: Obamacare To Increase Individual-Market Premiums By Average Of 41%

 

 

Know Your Rates

The Obamacare Rate Map, an interactive tool for learning about health insurance prices under the Affordable Care Act, was produced by the Manhattan Institute. Click on the graphic to visit the map.

 

 

” One of the fundamental flaws of the Affordable Care Act is that, despite its name, it makes health insurance more expensive. Today, the Manhattan Institute released the most comprehensive analysis yet conducted of premiums under Obamacare for people who shop for coverage on their own. Here’s what we learned. In the average state, Obamacare will increase underlying premiums by 41 percent. As we have long expected, the steepest hikes will be imposed on the healthy, the young, and the male. And Obamacare’s taxpayer-funded subsidies will primarily benefit those nearing retirement—people who, unlike the young, have had their whole lives to save for their health-care needs.

Eight states will enjoy average premium reductions under Obamacare: New York (-40%), Colorado (-22%), Ohio (-21%), Massachusetts (-20%), New Jersey (-19%), New Hampshire (-18%), Rhode Island (-10%), and Indiana (-3%). Most, but not all, of these states had heavily-regulated individual insurance markets prior to Obamacare, and will therefore benefit from Obamacare’s subsidies, and especially its requirement that everyone purchase health insurance or pay a fine.

The eight states that will face the biggest increases in underlying premiums are largely southern and western states: Nevada (+179%), New Mexico (+142%), Arkansas (+138%), North Carolina (+136%), Vermont (+117%), Georgia (+92%), South Dakota (+77%), and Nebraska (+74%).”

 

 

    Isn’t it peculiar how the biggest winners are nearly all blue states while the biggest losers are predominantly red ? The other thing to bear in mind is that the burden of rate hikes has primarily been foisted onto the backs of those of us who self-insure while those whose insurance is employer-provided escape largely unscathed . Yet another corporate subsidy thanks to cronyism .