About an hour ago, we participated in a conference call with American's for Prosperity -- Texas and the Texas Public Policy Foundation. The subject was Obamacare's impact on the individual insurance marketplace in Texas. The information presented was staggering.
The biggest takeaway is that the price of individual insurance plans is going up, big time. A 27 year old who currently purchases insurance in the individual marketplace will see their premiums increase by at least 98%. 35, 47, and 65 year olds will face similar increases.
The exchanges are a good deal only for very low income people. Once your income is north of $30,000, you still face higher costs, but you don't qualify for any subsidies. For most people, the insurance subsidies won't cover the increased costs.
The increased costs result from what are called 'essential health benefits.' These are services that all health insurance plans must cover, regardless of consumer desires. For example, men must now purchase maternity care and people without children must purchase pediatric care.
Obamacare will devastate America, and especially Texas. Costs skyrocket while quality plummets. Thanks to AFP and TPPF for highlighting this impact of this catastrophic law.
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