Ohioans to Pay 85% More for Insurance Premiums due to Obamacare
As Americans get set to head to the polls there are many platform issues that they will take into consideration when choosing a candidate. For those living in Ohio and who own individual health insurance policies, the fact that Obamacare will increase their premiums by as much as 85% by 2017, according to a non-partisan study, may be reason enough for some to revaluate their vote.
According to Forbes, the reason for the increase in premiums for privately owned insurance policies is because Obamacare will make it mandatory for insurance providers to cover a wider range of benefits that they don’t currently offer, as well as provide coverage for everyone, including those whose health makes them a higher risk. These two key factors will mean that providers will charge more for coverage.
But Obamacare won’t just drive up the cost of individually held insurance policies; it will also reduce the amount of Medicare coverage Ohio retirees can expect in the future. In a study performed by Robert Book and Michael Ramlet, it was determined that every senior in Ohio can expect to lose more than $10,000 in Medicare coverage per year.
What’s particularly concerning is that the Affordable Care Act will require Medicare fees to decrease and, if they do by more than 10%, according to a survey of Ohio physicians performed by the Physicians Foundation, approximately 30% of local doctors said they would limit the number of Medicare patients that they accept. More than 20% of physicians said they would no longer accept clients with Medicare.
While many Obamacare proponents will claim that the increasing rates won’t make much difference to those with low incomes because of the Act’s subsidies, not everyone will be eligible to receive these subsidies and they will instead be forced to shoulder the rising cost of insurance.