Wednesday, October 23, 2013

Study: Average Premiums for Young Women to Increase 193%

APHealthy young women will see their premiums rise by an average of almost 200 percent under Obamacare, with increases occurring in all 50 states and the District of Columbia, according to a new study.
Earlier this month, the American Action Forum released an analysisthat found the average 30-year-old male nonsmoker would see his premiums rise 260 percent.
Using the same metrics, the organization found that the Affordable Care Act (ACA) would be just as harsh on women trying to purchase bronze level plans, the cheapest insurance available in the marketplace.
“All 50 states and the District of Columbia saw insurance rate increases, with 42 of those states experiencing triple digit percentage increases in premiums for the lowest-priced coverage,” the study said. “Pre-ACA premiums for a 30-year-old nonsmoking woman average $74.49 monthly, while post-ACA premiums average $188.72 per month, a $114.23, or 153 percent, increase.”
Overall, states averaged a 193 percent increase in premiums for 30-year-old female nonsmokers.
The American Action Forum, a center-right policy institute led by Douglas Holtz-Eakin, the former director of the Congressional Budget Office, compared premiums across the country in 2013 to rates under the federally and state run exchanges in the heath insurance marketplace.
Similar to their previous study, the organization found that even with subsidies, young women would likely forego health insurance since the penalty for being uninsured is much cheaper than the premiums in the marketplace.

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