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Obamacare Will Leave Some ‘Underinsured’
Posted on Jan 4, 2014
The out-of-pocket costs for people with diseases requiring ongoing treatment “could still be so high they’ll have trouble staying out of debt,” The Associated Press reports.
Such costs include a health plan’s annual deductible—the amount of money a person must shell out before the insurance company begins to pay a claim—as well as co-payments and “cost-sharing.”
The AP lays out the costs for a typical service worker:
Under the Affordable Care Act, insurers competing in the new marketplace offer four levels of coverage. All plans cover the same benefits but differ in financial protection. Bronze plans cover 60 percent of costs; silver, 70 percent; gold, 80 percent; and platinum, 90 percent.
Bronze plans have the lowest premiums but provide the least coverage. The annual deductible for silver plans—the standard for most people—is $2,567, more than twice what workers in employer plans currently pay. Many silver plans also have high cost-sharing requirements for prescriptions.
The AP continues:
—Posted by Alexander Reed Kelly.
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