Obamacare Premiums Report Shows Slightly Lower Prices Overall

let's talk a little bit about the Obamacare prices that we now have had a look at I have to tell you I don't think that it's it's mind-blowing I was checking out here in New York State they have released a a lot of the insurers that will be participating in this health insurance exchange that will be run by by states they've released their prices it's not mind-blowing its it's still very high in many cases you're talking for five hundred dollars a month for an individual a healthy individual for for silver or better coverage however up for silver coverage I think those prices are however they are slightly lower now we have more data the average price for basic basic health coverage purchased on health insurance exchanges created by Obamacare will be to 49 per month this does not count subsidies which will be available of course based on income these figures were released by the Department of Health and Human Services the prices are going to vary widely depending on family size age tobacco use income of course even the average price above what is considered a bronze a plan which is designed to cover about 60 percent of medical expenses not including the premiums themselves I is the the prices on the bronze plans also vary greatly the average price above the cheapest bronze plan in Minnesota is a hundred and forty four dollars a month in wyoming comparable coverage costs four hundred and twenty-five dollars a month not including the subsidies so very wide range is Luis for a lot of people that will mean lower premiums for for some people that we will mean slightly higher premiums the idea is that on the whole you are bringing down premiums overall but also covering more people so I don't know what I mean are you overwhelmed underwhelmed I have to say it's about what we expected it's a policy that will put tens of millions of additional customers in the indium in the roles in the customer rolls a for-profit insurers with all of the problems that exist with having this for-profit insurance a system but it will reduce premiums slightly and it will insure many more people i guess its good but I'm not jumping up and down as if we had single-payer healthcare right I think the idea them one of the most important ideas behind this and more than most biggest hopes for it was that it would kinda stabilize at the health care industry and prices would not continue to you skyrocket you know individual premiums but am I mean time will tell and of course it is good that it helps insure millions of uninsured people absolutely the broader problem that we had we still have which is the connection for most people between their employer and their health insurance right that's a problem the fact that we have a for-profit system of health care when so many other countries at the level of development where the US currently sits have moved away from this for-profit mechanism except for supplemental insurance if you want something above and beyond the government-provided insurance up but in the aggregate we're going to see some benefit Louis makes a good point though which is I am curious to see whether the the premium increases slowdown at all and the one thing that will not benefit from Obamacare is the elimination of the entire medical billing bureaucracy that exists which is Louis I absolutely huge part of the problem you've got multiple layers of bureaucracy here which all are are paid staff I know it's incredible how how chaotic and an unnecessary the whole system is a really needs to be streamlined and we're so far away from that