Insurance industry warns of higher rates
Insurance industry reacted to the Supreme Court decision by saying that the ruling will actually end up raising rates even more than they have climbed since the law was enacted.
The Kaiser Family Foundation, a nonprofit research group, has said that the average family insurance premium in 2011 topped $15,000 — a 9 percent increase from the year before, while premiums had climbed just 3 percent a year before the law went into effect.
AHIP counters claims that premiums will decrease. It cited an Urban Institute study that shows insurance premiums for singles policyholders, who are 18 to 34 years old, will increase by $1,400, from $3,600 to $5,000 a year. Policyholders who are 35 to 44 years old will see a lesser increase, by $800 from $4,200 to the same $5,000 rate per year.
Minimum wage Americans net (take home pay) annual income is around $11,500.00. This makes the estimated $5,000.00 annual health care insurance policy 50 percent of a workers annual take home pay. That is not what I call affordable health care insurance cost!