Wednesday, August 14, 2013
Don't believe Lt. Gov. Mary Taylor
Despite Ohio Lt. Gov. Mary Taylor's claim that the Affordable Care Act will cause health premiums to reach the sky (see Politico), nothing can be further from the truth. Taylor is also in charge of the Ohio Department of Insurance and reluctantly set up to work on the exchanges necessary for the coming Affordable Care Act (aka Obamacare). A recent study by Kaiser Family Foundation (h/t DailyKos), shows that the Republicans are pulling numbers out of their respective @**#*.
A number of states have recently released information on what premiums will be in the individual insurance market in 2014, when significant changes in that market take effect due to the Affordable Care Act (ACA). In some cases, states have provided estimates of how those premiums compare to what people buying their own insurance are paying today.
However, these premiums are in effect “sticker prices” that many people will not pay because they will be eligible for federal tax credits under the ACA to offset the cost of insurance. In this data note, we explain how the tax credits will work and estimate how much premium assistance people now buying their own insurance will be eligible for in 2014....
Check out the KaiserFamilyFoundation Subsidy Calculator here.