A quick look at “Bronze” Obamacare prices in the last ten years – increasing at twice overall inflation and subsidies now costing 125 billion bucks a year
First, let’s take a look at overall inflation.
July 2014 CPI index = 238.250, July 2024 314.54 – change = +32%
Ok, from here:
“The Affordable Care Act, commonly known as Obamacare, has four new health insurance plans which set the standard of care, named Bronze Plan, Silver Plan, Gold Plan, and Platinum Plan*. All plans must offer the same ObamaCare essential benefits, however individual providers and states may offer extended or additional benefits. This page is dedicated to comparing the four plans.”
Already you can see the level of complexity!
Using Brave, here is the cost of the “Bronze” plan in 2014:
· “The base cost of premiums for a “Bronze” plan in 2014 was $250 per month before subsidies.
· After subsidies, the cost decreased to around $82 per month.
· The total annual fee for not buying insurance (Individual Mandate) was capped at the average price of a “Bronze” plan.
Three thousand bucks a year before subsidies and 1,000 bucks a year with subsidies/
Those qualifying for subsidies?
Individuals with incomes below 400% of the federal poverty level (FPL) were eligible for subsidies to purchase health insurance through the Affordable Care Act (ACA) marketplaces. In 2014, this translated to:
o Single individuals with incomes below $45,960 (100% FPL) and up to $183,990 (400% FPL) eligible for subsidies.
o Families with incomes below $60,750 (100% FPL) and up to $292,790 (400% FPL) eligible for subsidies.
Let’s skip forward to the present – the Brave answer to “what was the cost of bronze Obamacare in 2024”.
: Based on the provided search results, here are the average monthly costs for Bronze Obamacare plans in 2024:
· According to the table “Average Obamacare Costs by Metal Tier”, the average monthly cost for a Bronze plan is:
o For Age 21: $327
o For Age 27: $345
o For Age 30: $373
o For Age 40: $420
o For Age 50: $587
o For Age 60: $890
Lots more complexity – and the prices for a post “filthy, steenking”, adulterated and contaminated, experimental C19 modified mRNA injection.
A 30-year-old in 2014 paying 3,000 a year without subsidies and 1,000 a year with subsides is now a 40-year-old paying 5,000 bucks a year without subsidies.
An unsubsidised “Bronze” plan increase of 66%, compared to inflation over the last ten years of 32%.
Subsidies? Brave answer to “are there subsidies for Obamacare for bronze plans in 2024”:
· Through 2025, the “subsidy cliff” has been temporarily removed, allowing more people to qualify for subsidies, including those with higher incomes.
· The average subsidy amount for 2024 was $526/month, although amounts vary depending on income, age, and household size.
526 bucks a month = 6,312 q year!!! 1
From Brave:
· “For individuals with income between 14,580% and 58,320% of the Federal Poverty Level (FPL), subsidies are available for “Bronze” plans.
· For families of four with income between 30,000% and 120,000% FPL, subsidies are available for “Bronze” plans.
Those have to be decimal points in those percentages, not commas!
How is poverty determined?
Brave response to “what is the definition of poverty level in the US”.
Official Poverty Measure (OPM): The US Census Bureau uses the OPM, which is based on income thresholds set at three times the cost of a minimum food budget in 1963. The thresholds do not vary geographically and are updated for inflation using the Consumer Price Index (CPI-U). The OPM defines poverty as:
· A family of four with an annual household income of $26,500 or less (before taxes) for 2020-2021.
· Poverty Threshold: The poverty threshold, also known as the poverty line, is the minimum level of income deemed adequate for a family’s basic needs. It is calculated by estimating the total cost of one year’s worth of necessities for the average adult and multiplying it by a factor of three.
So, 13 times to 120 times 26,000 bucks a year would seem to imply that almost everyone gets a subsidy!
Socialized medicine!
Brave answer to “how much does the US federal government spend on Obamacare subsidies a year”.
Based on the provided search results, the US federal government’s spending on Obamacare subsidies has increased over the years. According to the data, in 2024, annual spending on Obamacare subsidies is projected to more than double to $125 billion.
There is no data for prior years. But at the 2024 rate, that is a trillion bucks every 8 years.
Onwards!!!
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When Obamacare went into effect our family paid 800 ish per month for a high deductible plan. Two years later it was over $2000 per month and few choices. Subsidies aka welfare allowed my neighbors to have insurance while we couldn’t afford it. I spent sleekness nights crying about our plight. When republicans had the chance to repeal it, the effers were cowards and liars and turncoats. Anything the govt touches, it’s a shit show.
All I know is after obamacare came about, I have paid WAY more than I previously did. Started out with private insurance of about $2000/yr for both my wife and I before obamacare. For many years now, we have been paying well over $20,000 per year for us, and that was with a high deductible. I am on medicare now but I still pay around $13,000 per year for my wife alone, plus what I pay for medicare and supplements. I keep getting these stupid emails from healthcare.gov that say "Most people pay less than $20/month. Sign up now!" Well, maybe, so long as "most people" are very young and make absolutely no money so maybe they get a large subsidy, I don't know. All I know is that what I have paid for basic medical insurance for years now is way more than I can afford and cuts into my retirement savings that i am dependent on to last the rest of my life. But I guess when we "own nothing we will be happy".