Obamacare Deductibles Might Remove ‘Affordable’ From ACA
Speaker of the House John Boehner is discovering — and sharing — the aspects of his new Obamacare insurance plan. “My health insurance premiums are going to double, my co-pays and deductibles triple under Obamacare,” Boehner said during a recent weekly address. “I’m thrilled to death, as you can tell.”
Boehner’s predicament may become commonplace. Sector & Sovereign Research issued a report in early December analyzing health plans offered for 2014. The focus was on individual insurance plans, and if people want to match 2013 coverage to 2014 coverage, the cost to do so will be “substantially more in 2014 than in 2013.”
Deductibles are the fixed amount a person will pay before the insurance company begins to contribute to covered medical expenses. The deductible falls within a certain period, normally a year. The result of the high deductible for some will be a higher out-of-pocket expense for health coverage in the individual market.