AUSTIN – The Texas Public Policy Foundation issued the following statement on the release of health insurance premium rates in the 36 federal health insurance exchanges operated by the federal government:
“The recent data released about the federal health insurance exchanges confirms what the Texas Public Policy Foundation, and others, have been saying for months – premiums on the exchange will be significantly higher than pre-ObamaCare premiums,” said Arlene Wohlgemuth, Executive Director and Director of the Center for Health Care Policy. “According to Health and Human Service’s data, the average cost of a catastrophic plan for a 27-year-old in Texas will be $153 a month on the federal exchange. Compare that to an average of the three cheapest catastrophic plans currently available to that same 27-year-old in Austin, which is $59 a month – that’s a 158 percent increase.”
“Although premiums won’t go up for everyone seeking insurance on the exchange, they will go up for most people. Bottom line is, ObamaCare actually makes health insurance less affordable,” said John Davidson, Center for Health Care Policy Analyst. “The reason is simple: the ObamaCare exchanges are designed to work only if large numbers of young, healthy people purchase more expensive coverage and offset the cost of insuring older and sicker people. Despite the federal government’s attempt to put a positive spin on these numbers, the data clearly shows that the price of premiums is going up relative to pre-ObamaCare rates.”
Texas Public Policy Foundation has published a comparison of average catastrophic plans in Texas pre-ObamaCare and post-ObamaCare that can be found on www.TexasPolicy.com.