From the start, OBAMACARE was a scheme formulated hastily in the smoke filled back room of expensive clubs and halls of Congress; where secret deals are struck by lifelong Washington DC insiders and paid lobbyist.
As a result, the America people are facing the shortcomings of Washington DC’s failed leadership.
For example, ObamaCare premium rates in Nashville, Tennessee are expected to jump 35% on Bronze plans in 2016 – iHumanMedia.com.
So what started as a quest for “Affordable Healthcare” has suddenly turned into a bureaucratic mess, the brainchild of Washington DC.
For example, a 30-year-old who earns $30,250 next year, the three HealthCare.gov markets examined will be Miami, Atlanta and Jackson, Mississippi reported iHumanMedia.com.
On-average for the cheapest ObamaCare Bronze plan rates will rise to about $420 single per month, or 7.4% more, to $5,653 deductible rate. These double-digit premium hikes and out-of-pocket cost jumps reflect the difficulty of providing affordable coverage to subscribers.
In each of those markets, such an individual would owe $2,220 a year for the cheapest policy. Given that those plans — all from Centene (NYSE : CNC) affiliate Ambetter Health — also come with $6,800 deductibles, the $695 tax penalty for not having any coverage may look like a good option.
Moreover, ObamaCare provides substantial extra cost-sharing subsidies to defray out-of-pocket expenses for those with income up to 200% of the poverty level, if they buy more comprehensive and pricier silver coverage.
But for those who can only afford bronze coverage or have income slightly above 200% of poverty ($23,550 for singles in 2016), the higher deductible could mean a steep bill if they wind up in the hospital.
Perhaps, smarter leadership in Washington DC and a healthcare management plan that reduces health risks is a better cost saving effort to this growing problem.