Cheapest ObamaCare Plans Aren’t So Cheap

The average price for the lowest-cost ObamaCare “bronze” plan in eight states is 122% higher than the cheapest plan currently available in those states, according to an IBD analysis of rate filings and a recent Government Accountability Office report.

Obama_care_plansThe late July report, largely overlooked by the press, provides detailed information on insurance plans today in all 50 states, from the cheapest plans offered to a 30-year-old nonsmoker to the most expensive plans 55-year-old couples can buy.

A separate report from the Maryland insurance department lists the lowest-cost “bronze” plans proposed for ObamaCare exchanges in eight states.

Comparing the two reveals a wide gulf between the cheapest plans available now and those that will be sold next year under ObamaCare.In Ohio, for example, the least expensive “bronze” plan for a 25-year-old will cost $1,956 a year. That’s almost three times higher than the cheapest plan in that state today, and higher than even the median-priced plan in the state, according to the GAO report.In Virginia, the lowest “bronze” premium is $1,608 — which is 252% higher than the cheapest policy available today.And Maryland’s least expensive ObamaCare plan will be 83% higher than the lowest-cost plan sold in that state this year.

Aetna (AET) on Thursday pulled out of Maryland’s exchange after state officials pressed it to lower its proposed rates by up to 29%.

Read More- Investors.com.

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