The new Affordable Healthcare Act is supposed to provide cheaper health insurance for millions of Americans. The new plans start at the “bronze” level with higher out of pocket costs but lower premiums to higher premium “platinum” plans which cover more expenses.
Here’s the kicker: while those with pre-existing conditions are now covered and able to secure more affordable plans, this is likely to make things more expensive for healthier policy holders. The factors that affect your coverage cost include: age, state of residence, gender and coverage level. For example, single women with no children making over $50k/year will not save money under the new plans.
Today’s lesson? While The Affordable Care Act will save many people money, it may not save you money as many factors determine your final premium costs. Check out the calculator below to see if the new plan will save you money. Report back on your findings in the comments!
Does the new plan save you money?