Graham Thompson, executive director of the Georgia Association of Health Plans, an industry group, said Tuesday that a majority of people are going to see their premiums increase because of the changes under the Affordable Care Act.
The more robust coverage requirements under the reform law “come with higher costs,’’ he said.
“There will be extremes at both ends of the spectrum,’’ Thompson said. “Young, healthy people will see more rate shock,’’ while older people who are unhealthy will see decreases.
But the 198 percent increase, Thompson added, “is an extreme case.’’
Hudgens also said the benefits required under the exchange, or marketplace, are more sweeping than under the present system. “They’re saying that the only thing available is a Cadillac, not a stripped-down Chevrolet,’’ he said.
Young people under 35 will see increases of more than 100 percent, Hudgens said. Middle-aged people will see hikes of up to 100 percent, and older residents will face increases of up to 40 percent, he said.
He predicted that many young people will skip the required coverage and instead pay the penalty for not having it, which is $95 or 1 percent of household income, whichever is greater.
via State seeks delay on rate approval for exchanges | Georgia Health News.
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