As for Obamacare rates, 2014 is a critical year because we will see how many people will sign up for the Obamacare exchange set up by the Affordable Car Act. But will the Obamacare exchange rates be affordable for the young?
As previously reported by The Inquisitr, the Obamacare exchange rates have a variety of pros and cons.
The biggest Obamacare con is considered to be the individual mandate, which includes an Obamacare penalty for those ignoring the Affordable Care Act provision that everyone must purchase private health insurance as a "tax." Whether or not Congress is exempt from Obamacare is another hot topic. But many people are worried about Obamacare rates in 2014 rising.
The main reason that the 2014 Obamacare rates might be higher is based upon the history of how health insurance companies have been in a race to the bottom by lowering premiums by taking away coverage options. This includes pre-existing conditions, prenatal care, child birth, preventive medicine, and many other measures. The Affordable Care Act forces insurance companies to cover all of these things, which can be considered a huge Obamacare pro.
The flip-side to that coin is the increased coverage comes at a cost. The plan for keeping the Obamacare rates reasonable are largely dependent on expanding the "insurance pool," which is the total number of people covered underneath health insurance as defined by the Affordable Care Act. The only way to ensure that happens is to tax Americans who do not comply.
Before releasing its landmark decision, the Supreme Court said the healthcare cost for young Americans used to average $854 per year. In order for Obamacare exchanges to break even, government officials have said 2.7 million Americans in the 18-35 age range must spend $5,800 a year per individual. In order to balance the higher medical costs of seniors, they assume that younger people will be healthier and not require as much medical coverage.
So, as you can see, the Obamacare exchange rates must convince almost one percent of the United States population to sign up and spend more than they're used to. So far the Obama administration hasn't released Obamacare enrollment numbers. This is claimed to be a bad sign but it should be pointed out that Obamacare glitches on Healthcare.gov have probably prevented many from signing up in the first place.
Do you think the Obamacare rates in 2014 will be a good deal or are you looking for Obamacare alternatives?