Posted by Sir Four at 10:43pm May 25 '13Obamacare critics have been predicting cost increases for years, but with the law taking effect Jan. 1 next year, some hard numbers are beginning to come in. California, which has been among the states hardest at work to implement Obamacare, just announced what their insurance exchange will look like. Californians now know what they'll be able to expect as they begin to sign up for O'care plans this fall. And the news is surprisingly good.
A 40-year-old in San Francisco who wants a top-of-the-line plan would receive a bill between $451 and $525 [per month]. Downgrade to a less robust option, and premiums fall as low as $221.
There are 13 different plans to choose from in the Cali exchange, and the prices have come in much lower than predicted. By the way -- the prices quoted above are pre-subsidy. Go back to the example of a 40 year old. She buys a "silver" (mid-range) plan, which costs $276/month. If her annual income is twice the federal poverty line, she only pays $171/month. It will actually be possible for some Californians, who are closer to the poverty line, to choose a basic plan that will cost them $0/month thanks to the subsidies. Or they could choose to upgrade and pay a reasonable/modest amount.
Oh yeah, it bears repeating: you pay the stated rate regardless of whether you are man or woman, healthy or sick.
I hope NJ's exchange looks something close to Cali's. I really hope so, because I will personally have more choice in good plans at competitive prices. And so will millions of my fellow New Jerseyans. Alas, one fuck-up of Chris Christie was to shrug off O'care implementation and let the feds create our exchange. So it's more of a mystery how it'll turn out. But I'll be sure to keep you all updated.