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Americans in Some States May Pay More Under Obamacare

AP
• August 6, 2013 10:10 am

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Americans living in Ohio, Indiana, South Carolina, and Florida will likely pay more in health insurance premiums if they purchase from the state-based exchanges next year under Obamacare, reports CNN Money:

That's because these people live in states where insurers were allowed to sell bare-bones plans and exclude the sick, which has kept costs down. Under Obamacare, insurers must offer a package of essential benefits — including maternity, mental health and medications — and must cover all who apply. But more comprehensive coverage may lead to more expensive insurance plans.

Under Obamacare, all Americans must have insurance coverage starting in 2014 or face penalties of $95 or 1% of family income, whichever is greater. Enrollment in the exchanges begins October 1, with coverage kicking in in January. Plans will come in four tiers, ranging from bronze to platinum.

According to CNN Money, the average premium increase will be 35 percent in Florida and 41 percent in Ohio. Additionally, Indiana prices will rise by an average of 72 percent for "the cost of providing care, not actual premiums."

While premiums may go up in these states, Obamacare advocates say people will receive more comprehensive coverage. Also, the law limits the amount people have to pay out-of-pocket for deductibles and co-pays to $6,350 in 2014.