Health reform will save you money

I got a note today about a state by state analysis demonstrating how our bill will lower health insurance premiums by improving competition and choice, promoting delivery system reform, and cracking down on waste, fraud, and abuse.

There’s more. It shows that an Arkansas resident would save between $236 and $433 a year in premiums (that is a 7.6% to 14.1%) and a family would save between $1,157 and $1,170 a year in premiums (that is a 14% to 14.2%).  That is real money, especially when you consider a family of four in Arkansas has a median income of $52,217 a year.  The plan would give them a the equivalent of a 2.2% raise.  This bill includes a public option.

Opps. Public option? Well, Aunt Blanche knows best and NO MATTER HOW MUCH MONEY YOU MIGHT SAVE IN HEALTH INSURANCE PREMIUMS, AUNT BLANCHE KNOWS BEST.

Hint: you might want to let her know that this bill should be debated and PASSED, and (if she cares about keeping that Senate seat) she should be among those voting “aye.”

The Patient Protection and Affordable Care Act:
Significant Premium Savings for American FamiliesBeleive
State-by State Analysis

Those purchasing coverage in the individual market today will no longer be subject to gender rating, pre-existing condition exclusions, rate hikes due to health history or risks.  In addition, lower administrative costs and greater competition will reduce the average premiums that people pay through the new state insurance exchanges.  These premiums savings are substantial:

An average adult could purchase health insurance for $512 to $732 less in 2009 dollars under the proposal than in the individual market today.  Savings would be over twice this amount for people with low income because of the premium tax credits in the Patient Protection and Affordable Care Act.

A typical family of four pays $9,876 for health insurance in the individual market today.  This same family could purchase a comparable policy for $1,383 to $1,975 less under the Patient Protection and Affordable Care Act.

Americans in all states will save.  For example, individuals and families in Nebraska will save from $1,021 to $1,234 for individuals and $1,536 to $3,331 for families on premiums when purchasing in an insurance exchange under the Patient Protection and Affordable Care Act, compared to what they would pay in the individual market today.

These estimated premium savings are based on (a) estimates of current individual market premiums derived from data from CBO (11-30-09), deflated by premium growth, and adjusted for family size and geographic premium variation for the microgroup market from the Medicare Expenditure Panel Survey (data on nongroup premiums by state are not available).  Premiums under the proposal are percent reductions in premiums for comparable benefits from CBO (11-30-09), adjusted for family size and geographic premium variation from the Medicare Expenditure Panel Survey (data from the large group market to reflect exchange pooling).

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About patlynch
I am a broadcaster in Arkansas, a former freelance writer and political columnist in the Arkansas Democrat-Gazette. Writing Coach. Speaker. Director of the Christian Foundations for Ministry program, and presently enrolled in the Anglican School of Ministry Master of Ministry program.

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