How much of a potential disaster is Trumpcare? Here's how much.
In extreme cases, the amount a consumer might owe for a plan could exceed that person’s annual income. In Nebraska’s Chase County, a 62-year-old currently earning about $18,000 a year could pay nearly $20,000 annually to get health-insurance coverage under the House GOP plan—compared with about $760 a year that person would owe toward premiums under the ACA, an analysis by Oliver Wyman showed.
The consulting firm, a unit of Marsh & McLennan Cos. is the first to project what consumers could actually have to pay to get health plans under the House’s blueprint. The analysis looked at the cost of a benchmark insurance plan at the “silver” level under both setups.
That’s about 28.5 iPhones, if you pay full price. Versus one.
For context, that report is in the Wall Street Journal. Every credible analysis of the law so far makes it clear: older people are going to be hit hardest, and older rural people will be hit hardest of all. That's because the bill allows insurers to charge older people as much as five times more. We also know that rural areas tend to have the most expensive health insurance costs, and the bill—unlike Obamacare—doesn't adjust tax credits according to geography. Rural populations are often older and poorer, and so they'll be affected the most.
Incidentally, they're the Republican base. It’s going to get harder by the day to get this through the Senate.