ObamaCare Will Double Premiums in the Individual Market

The Institute of Medicine has released its long-awaited report about the essential health benefits package mandated under Obamacare; the report can be found here….

The report recommends that the essential benefits be based upon “the scope of benefits and design provided under a typical small employer plan in today’s market.”  But the average price of apolicy for small employers in 2010 was over $5,100 for an individual and more than $13,400 for a family – more than double the $2,000 single premium and $4,700 family premium charged in the individual market.  In other words, premiums will rise thanks to the richer benefit packages the report – and the law itself – recommends.

There is more from Chris Jacobs at the Republican Policy Committee.

Comments (3)

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  1. Buster says:

    Typical busybodies who think they know what’s best for everybody else.

  2. Devon Herrick says:

    Reports suggest the IOM thought it was being evenhanded because the committee appreciated the fact that a rich package of essential benefits would drive up the cost of a policy. That’s why it opted for a package similar to what small businesses offer rather than the more generous package standard for large businesses or unions. Unfortunately, the IOM failed to appreciate that much of the benefits they were considering requiring are of little benefit to the average person. If everyone received every preventive service recommended for them the cost of medical care would rise not fall. Moreover, the cost per life years saved would come at a very high price.

  3. Bruce says:

    No surprise to me.