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Obama-Care Subsidies Average 76% (87% Get Subsidy)

From the Washington Post:

Federal insurance exchange subsidies cut premiums by average of 76%, HHS reports

By Amy Goldstein | June 18, 2014

The Americans who qualify for tax credits through the new federal insurance exchange are paying an average of $82 a month in premiums for their coverage — about one-fourth the bill they would have faced without such financial help, according to a new government analysis…

The 28-page report, by the Department of Health and Human Services, is the government’s first effort to gauge the affordability and availability of health plans under the Affordable Care Act, now that the first insurance sign-up period has ended.

Federal health officials, who insisted on briefing reporters on the condition of anonymity [sic], acknowledged that analyzing what has happened remains a work in progress. Still, they said the report’s results buttress the Obama administration’s contention that the new insurance marketplaces are working…

If the goal is income redistribution. Which, of course, is the goal. Because the real bottom line is that many more people are now dependent on the government.

The government has previously reported that 87 percent of the 5.4 million Americans who chose a health plan through the federal health exchange qualified for some financial help.

The health officials said they have not yet analyzed the incomes of people who qualified for the subsidies. But overall, the report shows, the average monthly tax credit this year is $264. Without the federal help, the average premium chosen by people eligible for a tax credit would have been $346 per month, and the subsidy lowered the consumers’ premiums, on average, by 76 percent…

What a coincidence. Members of Congress and their staff also get a 76% subsidy.

This article was posted by Steve on Wednesday, June 18th, 2014. Comments are currently closed.

One Response to “Obama-Care Subsidies Average 76% (87% Get Subsidy)”

  1. untrainable says:

    It’s Wild Kingdom. Marlin is the congress. Jim is the people. The wild anaconda is our new O-Care tax burden.

    Marlin : “While Jim is out wrestling the wild anaconda and getting his balls squeezed (and not in a good way), I’ll be sitting in the back of the air conditioned van sipping martinis and counting my money. Oh boy Jim, that looks painful.”

    Jim: ARGH!!!!!!!!!!!!!!!!!!!!!!!!!!!! (soprano) ARGH!!!!!!!!!!!!!!!!!!!!!!!

    Marlin: “And now a word from our sponsors…”

    Sorry to you youngsters out there, but some of you remember…

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