Tuesday, January 22, 2013

You can expect your Health Insurance premiums to rise this year

While the most sweeping provisions of the health care overhaul have not yet gone into effect, plenty of Americans will still be paying higher insurance premiums this year -- as insurance companies try to preemptively cover the cost of a tax increase included in President Obama's Affordable Care Act. 
That tax doesn't take effect until next year, when other major provisions like the so-called "individual mandate" and insurance subsidies also kick in. But that hasn't stopped insurance companies from charging higher premiums this year to cover the hike, as well as the cost of ObamaCare benefits such as free birth control and preventive care. 
Premiums for individuals and small businesses are projected to increase due to the tax by roughly 2 percent this year and by as much as 3.7 percent in 2023, according to a widely cited analysis by the insurance industry.
Read the whole story HERE and view a related video below:
 

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1 comment:

Nicholas James said...

And by 2016 the least expensive health insurance plan will cost $20,000 annually, from 1st Jan 2014 every single person will be forced to get insurance or will be facing penalties.