Arizona millennials on Obamacare ‘silver plan’ facing 116-percent increase to their premium
Young adults in Arizona who make between $30,000 and $40,000 a year are on the hook for a hefty chunk of a 116-percent-premium increase to their Obamacare insurance as they fail to qualify for a larger subsidy that would defray the price jump, according to a Health and Human Services report released Monday.
The Department of Health and Human Services revealed Monday that premiums for a midlevel benchmark plan will increase an average of 25 percent across the 39 states served by the federally run online market, and that about 1 in 5 consumers will have plans only from a single insurer to pick from, after major national carriers such as UnitedHealth Group, Humana and Aetna scaled back their roles.
However, in Arizona, unsubsidized premiums for a hypothetical 27-year-old buying a benchmark “second-lowest cost silver plan” will jump by 116 percent, from $196 to $422, according to the administration report.
But HHS said if that hypothetical consumer has a fairly modest income, making $25,000 a year, the subsidies would cover $280 of the new premium, and the consumer would pay $142. Caveat: If the consumer is making $30,000 or $40,000, his or her subsidy would be significantly lower.
How are young people supposed to save for their future and foot the bill for the ballooning amounts owed to those on our entitlement rolls? Obamacare is a flat-out disaster and unsustainable. Click here to help Tea Party Patriots encourage our lawmakers to deep-six this atrocious health-insurance law.