Insurance Rates For Some May Double Under Obamacare
The so-called “young invincibles” — those between the ages of 18 and 29 who don’t have health insurance — may find themselves priced out of the market once Obamacare kicks in.
Others may see rate increases from 50-100% as Obamacare demands more comprehensive and expensive coverages than current plans do.
From the Washington Post:
Insurers point to several reasons that premiums will rise. They will soon be required to offer more-comprehensive coverage than many currently provide. Also, their costs will increase because they will be barred from rejecting the sick, and they will no longer be allowed to charge older customers sharply higher premiums than younger ones.
Supporters of the law counter that concerns about price hikes are overstated, partly because federal subsidies will cushion the blow.