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Sunday April 20th 2014

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New Obamacare Rates Lower Than Expected

DroppingRatesCalifornia health officials on Thursday unveiled the likely rates that insurers will charge under President Obama’s health-care law — and they are lower than expected, rebutting warnings by critics that many people will experience “rate shock” once the law is fully implemented. A person who chooses a mid-level plan can expect to pay around $321 a month, about $100 less than the amount projected by the Congressional Budget Office when the law was being debated in Washington. For low-income people, much of that cost will be offset by rebates from the federal government. But some middle-income people who don’t get insurance from their employers will end up with hefty monthly bills, California officials acknowledged according to a recent report in the Washington Post.