Thursday, August 08, 2013

Obamacare Found to Lower Premiums - Nearly 20% Lower

HHS Secretary Kathleen Sebelius released a news report that finds premiums in the health insurance marketplace will be nearly 20 percent lower in 2014 than previously expected.

The Affordable Care Act requires health insurers in every state to publicly justify any premium rate increases of 10 percent or more. Health insurance companies now generally have to spend at least 80 cents of every premium dollar on health care or improvements to care, or provide a rebate to their policy holders. In addition, when the Health Insurance Marketplace opens for enrollment on October 1, 2013, consumers will be able to make apples to apples comparisons of quality health insurance plans.

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