Americans seeking cheap insurance on the Obamacare health exchanges may be trading lower premiums for out-of-pocket costs of more than $6,000 a person,Bloomberg reported.
A survey by HealthPocket Inc. shows that expenses for some policies can reach $6,350 for a single person and $12,700 per family, the most allowed by law. That's 26 percent higher than the average deductible in the seven states surveyed. It's also likely indicative of what will happen across the country, the company said.
Insurers are raising deductibles and co-pays to lower premiums on the government-run exchanges. It makes the plans affordable upfront, but could force consumers to gamble that they won't face a major medical bill.
Another Bloomberg story asserts that Democrats running for re-election in 2014 are continuing to push for revamping the health care law. President Barack Obama yesterday said that Americans who have received cancellation notices from insurers can have a one-year reprieve before they have to get new policies.
A CNNMoney story lays out three more hurdles that the terminated insurance plans must jump before being viable for the next year. The hurdles: state regulators, insurers and policyholders.