Affordable Care Act (ACA) 34% price hike in 2018

Affordable Care Act (ACA) 34% price hike in 2018

Oct 31, 2017

Genesis Home Care LLC., came across this information concerning the Affordable Care Act and thought it essential to share across all of our mediums.

The Affordable Care Act or ACA or most recognized by its nickname “ObamaCare” (former President Obama’s flagship) will unfortunately increase beyond 30% percent higher in 2018 than 2017. For a quick refresher, the ACA which went into law in 2010 after a fiery debate that still has many on opposing viewpoints. Like all federal enactments this law has its good and its bad, some of the good becomes bad for certain people while some of the bad becomes good for others- Are you still with me? Because of this fiery subject and my lack of expertise in law and politics I will defer from stating an opinion of one side or another on what is simply an informational article.

My intent here is to help get the word out to as many people as possible to start preparing early for the increase in price. It is highly recommended not to procrastinate when shopping on marketplaces for a plan best suitable for you and your family. There are different plans (three) out there and once again not all plans will be affected equally, the middle plan or Silver which covers most Americans will see the biggest increase in price. Some reports have the increase at 30% others as high as 36%. Be cognizant that this is an average and the numbers are calculated depending on what the sources included or excluded. Also, some states such as Iowa, Utah, Wyoming, and New Hampshire will see the greatest increase with 69% 65% 64% and 50% respectively. A few states will receive a decrease in price. Alaska, a 22 percent drop; Arizona, a 6 percent reduction; and North Dakota, a 4 percent drop.

Why the drastic changes in the ACA in 2018? Unless you have been isolated with no access to any media outlet or word of mouth then I am positive you have heard the noise in congress between the two major parties on repeal and reform of the ACA. The price increases come as a response to market uncertainty brought on by the debate between the contentious Dem’s and Repub’s in the House and Senate, as well as the end of federal payments enacted by the Trump administration to insurers, so as economics go, the bill gets paid, just redirected. Below is a link to find out how to get personalized plans and pricing for 2018.

https://www.healthcare.gov

Here are a few links for further reading and detailed information.

UNDERSTANDING THE AFFORDABLE CARE ACT:https://www.aier.org/research/understanding-affordable-care-act

FULL REVIEW OF ACA:

https://www.aier.org/cost-Affordable-Health-Care-Act

MOST POPULAR OBAMACARE PLANS COST AVERAGE OF 34 PERCENT MORE FOR 2018:

https://www.cnbc.com/2017/10/25/most-popular-obamacare-plans-cost-average-of-34-percent-more-for-2018.html

POLICY UNCERTAINTY: