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Wednesday, January 23, 2013

Cost Vs Price in Health Insurance

I recently posted a graph showing the relationship between premiums and the insured’s out of pocket costs (OOP) in regards to Obamacare (posted here). It was taken partially from the Washington Post’s article that was trying to show how premiums have leveled a bit since Affordable Health Care Act became the law of land. While it’s true that premium increases have eased compared to historical averages, people are paying more than ever for their health care, as can be seen in the top orange line. When you factor in deductible and changes to policies in the last three years, the black line represents where we would be if Obamacare had not been instituted, and percentages of OOP were still paid by premiums/deductibles.

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