ObamaCare costs will jump next year for exchange customers, one way or the other. Premiums are set to spike by more than 20% in at least 16 states. But, for many, the real sticker shock will be soaring deductibles that mean they'll get few benefits until they've racked up huge bills.
Low-end bronze plans have deductibles hitting $6,850 in 2016. Now insurers are hiking silver-plan deductibles as high as $6,500 as a way to keep a lid on premiums. The downside isn't just more out-of-pocket costs for patients; it also will have a ripple effect of reducing taxpayer subsidies for cheaper plans.
Take Indiana, where average premiums are set to rise just under 1% on average, tied for the lowest in the nation, according to ACASignups.net. The cheapest silver plan in Indianapolis will actually fall by 6%, but that doesn't necessarily mean customers will get a better deal.
This year's cheapest silver plan, from CareSource, has a $3,500 deductible. But in 2016 the cheapest plan, from Ambetter, will have a $6,500 deductible — an 86% jump.
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Low-end bronze plans have deductibles hitting $6,850 in 2016. Now insurers are hiking silver-plan deductibles as high as $6,500 as a way to keep a lid on premiums. The downside isn't just more out-of-pocket costs for patients; it also will have a ripple effect of reducing taxpayer subsidies for cheaper plans.
Take Indiana, where average premiums are set to rise just under 1% on average, tied for the lowest in the nation, according to ACASignups.net. The cheapest silver plan in Indianapolis will actually fall by 6%, but that doesn't necessarily mean customers will get a better deal.
This year's cheapest silver plan, from CareSource, has a $3,500 deductible. But in 2016 the cheapest plan, from Ambetter, will have a $6,500 deductible — an 86% jump.
Read More At Investor's Business Daily: http://news.investors.com/politics-...ill-get-you-if-not-premiums.htm#ixzz3oAsCQTZp
Read More At Investor's Business Daily: http://news.investors.com/politics-...ill-get-you-if-not-premiums.htm#ixzz3oAs35ZhX
Follow us: @IBDinvestors on Twitter | InvestorsBusinessDaily on Facebook
