Bad News for Republicans: “Obamacare” to Cost Americans Much LESS Than Expected
May 28, 2013 By Allen Clifton
Something interesting happened last week — California released its rates for the Affordable Care Act, aka “Obamacare.”
And guess what? They’re cheaper than the CBO’s 2009 estimates.
Not only are the rates cheaper, the Affordable Care Act looks like it’s doing exactly what they said it would — creating competition to make health insurance rates more competitive.
Originally, the non-partisan CBO predicted that California’s monthly insurance rates under “Obamacare” would run around $450 per month for the medium-level (silver) insurance plan. What reality actually shows is a medium-level plan will cost around $294 per month — before subsidies. Meaning, depending on how much someone makes, they’ll rarely pay the full rate. For instance, someone making twice the poverty line would only pay $104 per month.
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