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Quotes tagged “The Affordable Care Act”
LARRY LEVITT: 'I think of the mandate as going hand in hand with the subsidies. It is entirely possible that both the mandate penalty and the premium subsidy are too small to make coverage affordable and convince enough people that they should buy it.
The bigger the mandate penalty, though, the more responsibility you have to provide subsidies to make sure the coverage is affordable. We’ve heard talk during the campaign from Secretary Clinton about increasing the subsidies. It wouldn’t be a popular issue to talk about increasing the mandate, but both may need to be bigger.'”
LARRY LEVITT: 'There are three reasons why premiums are going up so much. The first is that more sick people than anticipated enrolled. Insurers are just catching up to the fact that premiums weren’t covering their costs. It seems somewhat counterintuitive that this is happening four years after the insurance expansion going into effect, but it’s really only now that insurers have good data on who enrolled and how much it cost.
The second reason is the end of the reinsurance program, which helped pay for very sick enrollees. That expires at the end of this year. So they have to raise premiums to account for the end of that program.
The third reason is health care costs seem to be trending back upward. That is affecting Obamacare plans but really all insurance plans.'”
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