Obamacare plans put big dent in customers’ wallets, from CNBC

From CNBC, with an introduction by Jim Quinn at theburningplatform.com:

So in the real world, the cost of healthcare – even for Obamacare enrollees – uses up at least 10% of people’s annual income. The Obamanistas blather about the low subsidized premiums, but NEVER talk about the $6,000 deductibles because that obliterates their false narrative of affordable healthcare for all.

Our friends at the BLS declare that medical costs only account for 7.7% of household costs and are only going up by 2.9% per year. Isn’t that precious? They underweight the expenses dramatically and then they have the balls to tell you your healthcare expenses are going up at 2.9% per year when you know they are going up by at least 10% per year. Obamacare is essentially a never ending proctology exam for the American people. Bend over folks.

Via CNBC

You might not be reduced to living on Ramen noodles if you buy Obamacare coverage — but your bank account certainly could feel a bit leaner.

A new study reveals that many Obamacare customers pay more than 10 percent of their incomes toward coverage. And the share of income eaten up can be much greater for some people, particularly if they use a lot of health services under their plan.

One in 10 Obamacare customers who earn between just two and five times the federal poverty level will have coverage costs that exceed 21 percent of their incomes, an analysis by the Robert Wood Johnson Foundation and the Urban Institute found.

And the median Obamacare customer who earns in that range spends more than 10 percent of their income on monthly premiums and out-of-pocket health expenses, the analysis found.

“Many who have modest incomes have high financial burdens even with average medical expenses,” the report said. “For those at the top of the [health] spending distribution, financial burdens are very high.”

“You start to get hit pretty hard,” said John Holahan, an Urban Institute fellow, and co-author of the report.

Strong sign-up activity

The study comes as Obama administration officials have touted relatively strong sign-up activity on the federal insurance exchange during the third open-enrollment season. Officials also have stressed the availability of financial assistance to help many consumers purchase coverage, and the value of having insurance to protect oneself from potentially crippling medical bills.

Still, the analysis also suggests that efforts to boost Obamacare enrollment dramatically above current levels is being hampered by the sticker shock that some would-be customers feel when they look at how much they would have to actually pay in plan premiums and deductibles relative to their incomes.

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