Californians should be aware that the new federal healthcare law will cost some middle-income residents 30 percent more than their current premiums, according to The Los Angeles Times.
That’s 30 percent – three zero!
The agency for implementing Obamacare is known as Covered California. They are in charge of implementing the Affordable Care Act. On Thursday the agency provided figures showing how much various state residents could expect to pay.
Nowhere near the affordability the president and his supporters promised way back in the beginning (2010). Remember a smiling House Majority Leader Nancy Pelosi exclaiming we needed to pass the bill to see what was in it?
For instance, if you are an individual with an income of $46,000 and higher, or a family income of $96,000 and have insurance, not through an employer, the rate will rise approximately 30 percent, the agency said. About 1.3 million people are expected to be affected.
There are around 3.6 million Californians without current insurance or low-income folks who will actually benefit from Obamacare. While younger people will see a rise in their premiums, older people will see their payments go down, according to the Times.
Ironically, lower incomes for a minority of young people might help offset ho either have no insurance currently or are low-income will benefit from the changes. Young people will see their rates rise on average, while older people will see them go down, the Times reported.
But lower incomes for some young people might help offset those higher costs. The money for better benefits has to come from somewhere.
As Patrick Johnston, president of the California Association of Health Plans says, "All these expansions add to the already increasing cost of care.”
Look for a new spin from the White House as the Affordable Care Act wheels it’s way towards full enactment and millions of angry, frustrated Americans looking for the real cost of this monstrous entitlement law.
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