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Obamacare: Is It Really Helping Americans Save Money on Individual Health Insurance?

Interesting report from the Kaiser Family Foundation yesterday:

People who bought their own health insurance last year saved $2.1 billion because of the federal health law, mainly because of a provision that limits how much of their premium can go to insurers’ administration and profits, says a report out today from the Kaiser Family Foundation. (KHN is an editorially independent program of the foundation.)

The researchers estimate that premiums for the 11 million Americans who buy their own insurance would have been $1.9 billion higher in 2012 without the law. Some consumers will also see rebates estimated at $241 million, which will be sent out later this year. While not every consumer saw savings or a rebate, the researchers estimated that the savings averaged $204 per person.

The main reason for the savings was attributed to a provision requiring insurers to issue rebates to consumers if they fail to spend at least 80 percent of every premium dollar on medical care and quality.

Study: Consumers Saved $2.1B On Individual Coverage Under Health Law

Do you think Obamacare is really helping consumers save money on individual health insurance? Tell us about it in our discussion forum!

Related posts:

  1. Open Enrollment: Will You Still Get Your Health Insurance Rebate If Your Switch Health Insurance?
  2. Supreme Court Ruling: What Will Happen to the $1.3 Billion In Health Insurance Rebates?
  3. Health Insurers Will Pay Out $1.3 Billion Rebates, But Will You Get One?
  4. “Show Me The Health Insurance Rebate Money!”
  5. Will Small Businesses Self-Insure to Save Money on Health Insurance?

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