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Average Obamacare deductible will jump 20% in


Posted: Jan 21, 2017

The average deductible for a silver plan through the Affordable Care Act, one of the law’s most popular health insurance plans, is projected to jump 20 percent to $3,703, according to a report from Avalere Health. Rep. Tom Price (R., Ga.), the nominee to lead the Department of Health and Human Services, said at his confirmation hearing that while many individuals have coverage through Obamacare, some of them are not getting the care they need because they cannot afford their deductible. “I get calls almost weekly from my former fellow physicians who tell me that their patients are making decisions about not getting the care that they need because they can’t afford the deductible,” Price said. “If you are an individual making $40,000 and $50,000 per year, and your deductible is $6,000 or $12,000 for a family—which is not unusual on the exchanges—you may have an insurance card, it might have a wonderful name of an insurance company, but you can’t have the care because you can’t afford the deductible,” he said. “People are denying themselves the care that they need.” The report found that out-of-pocket costs are expected to rise in other ways next year. On average, co-insurance for specialty drugs on silver plans is set to increase from 34 percent to 37 percent. More silver plans will charge co-insurance for specialty drugs as well. In 2017, 84 percent of silver plans will charge for the drugs, up from 74 percent in 2016. Half of silver plans will charge more than 30 percent co-insurance for specialty drugs, compared to 36 percent of silver plans in 2016. In addition to higher deductibles and out-of-pocket costs, the Obamacare exchanges will offer fewer preferred provider organizations, which offer a wider network of providers and cover more out-of-network services. In 2014, 52 percent of plans on the Obamacare exchanges were by preferred provider organizations. In 2017, that number is projected to decline to 31 percent. Premiums are set to increase by 25 percent in 2017. The number of insurers participating on the exchanges is set to decline. “After several national and regional insurers exited the exchange markets, 36 percent of all regions in the country will have only one participating health insurer in 2017,” the report stated. “By comparison, only 4 percent of regions had one participating insurer in 2016.” Finally, the report noted that Obamacare enrollment is less than half what the Obama administration initially projected. The government estimated that 23 million people would be enrolled by 2017; only 11.5 million people were enrolled as of Dec. 24, 2016. “Exchange enrollment continues to lag behind projections, even after accounting for 2017 open enrollment to-date,” said Caroline Pearson, senior vice president at Avalere. “Lower-than-projected enrollment makes the market less stable and less attractive to insurers and has the added effect of increasing premiums in subsequent years.” The Department of Health and Human Services did not respond to requests for comment. ;

Thanks, Trump! - LOL

[ In Reply To ..]
After all, he's in power now, right! How about that horrible TrumpCare, am I right!

Trump has nothing to do with this. They've been going up steadily - every year because of low enrollment to offset the

[ In Reply To ..]
people on Obamacare and the enrollees are sicker and costlier.

A little research is a good thing.

and they were going up more before - ACA

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We'll see what Trumpcare has to offer.

Rebublican legislators will need to. sm - Anon

[ In Reply To ..]
work very, very hard to develop an improved and affordable healthcare plan to replace the ACA or they'll risk getting re-elected the next time around. People seem to forget that health insurance used to be a benefit and not a given and forget the days when we used to have to pay full price for doctor visits and prescriptions. The insurance was basically to help with the cost of hospitalization. If people want most of their health care paid for, we would need socialized medicine with the government footing the bill. A good start would be removing the law that states that the government can't negotiated for cheaper drug prices for Medicare. The drug lobby would be all over that, but it would be a start and may open the door for cheaper drug prices for all.

Obamacare is too costly for those of us w/o subsidies plus - many insurers are leaving the marketplace.

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They have been rising every year since it started. I hope they get rid of the penalty for not having insurance. That would be a start.

Think about it this way. More people with ACA file medical claims with - large bills. Who pays for it?

[ In Reply To ..]
You do! That's why your premiums will go up AGAIN!

Basically ACA mandates that insurance companies become charities that cover everyone’s medical needs, regardless of age or medical history. But charitable work costs money too, especially when it is covering astronomical medical costs often associated with people who have pre-existing conditions.

Those costs will simply be passed on to everyone else who is in the medical insurance pool.

I'm sure the lamestream media will be all over this now that - a Republican is president.

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They essentially ignored it for the past few years. Also expect more of those "Obamacare saved my life" stories going around.

Stricter regulations on cost of care is probably an - elephant in the room.

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Healthcare is a market place and they can charge whatever they feel like charging. This leads to inflated prices and higher profits. Not good for the "consumer" (patient) who is at their mercy. Why is this not being discussed? The healthcare community stays well protected with their over-the-top prices while the poor patient goes begging for care he cannot even begin to afford. It seems we all lose with unregulated medical costs.

I wish the same where true of colleges. They charge whatever they - want because they know the govt will pay.

[ In Reply To ..]
I don't think govt regulation is the answer. I think free market and competition is. If you don't like the price, including for your doctor and healthcare, check prices and go somewhere else. It's already being done in the free market.
I would rather put consumers in charge and let the market work for them, - rather than some government
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bureaucrat beholding the unions or even drug companies lobbying. More choices means more freedom.
I am not sure how the market helps consumers in healthcare--sm - anon
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If I feel that product A is too expensive, as a consumer I can choose the lesser quality of product B at a reduced cost or I can just opt out.

As a patient, if product A (say a certain type of insulin) is the only product that works for me, I either have to pay the price or do without and die. The suppliers have product A only need to adjust the price to make whatever profit they need. They can price it low enough where many will buy it or price it high enough to where even with fewer purchasing, they will still make their target profit. I do not find any comfort in that scenario.

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