As many as seven million people could qualify for subsidies that would cover the entire cost of a health insurance plan under Obamacare, according to
three independent estimates, as reported in
The New York Times. The lowest tier of health plans on the exchanges, the Bronze plans, often come with premiums low enough to be completely covered by subsidies. But those plans might not be the best choice for many of the seven million who could get them without having pay, because of their high deductibles and out-of-pocket expenses.
The latest analysis was conducted by McKinsey’s Center for U.S. Health System Reform, whose independent research has been cited by the federal government and others. [...] The analysis found that five million to six million people who are uninsured will qualify for subsidies that will be greater than the cost of the cheapest bronze or silver plan. A million more people with individual insurance could also be eligible, according to McKinsey, although estimates of the size of the market for private individual insurance vary widely. None of the people in the analysis qualify for Medicaid.
It's a good deal for healthy people or people without family obligations, maybe not such a good deal for everyone. That's why health insurers and the administration haven't been widely touting these plans—they don't want people getting into plans that will cost them nothing at the front end, but could result in high costs for them if they get ill. That's causing many people who can finally afford health insurance to make the decision very carefully.
Dante Olivia Smith, a lighting designer from Manhattan, learned that federal subsidies would allow her to buy a bronze plan for $24 a month.
“It was astounding,” she said. “I almost started crying, and called my mom.”
In the end, however, she went with a silver plan for $91 a month that included dental and vision coverage. Ms. Smith, who is 30, said she opted for the more comprehensive plan because of her work, which requires her to climb ladders and use power tools.
“If I had a different job, for 24 dollars a month I would have been like ‘Woo-hoo!' ” she said. “But the reality is, I know what my risks are in my life.”
So much for "rate shock." This is a far less sexy story than the
tiny percentage of people losing their current plans and having to may more for new, better ones, because it's not all about how horrible the law is. It's probably not going to be all over the news like those other stories, but it is all about what this law was supposed to do: make health insurance affordable for as many people as possible.
