How much will the middle class pay for health care under the House bill being considered in Washington?
The Congressional Budget Office today released its assessment of how much you and your family will pay for health insurance under the various plans being considered in Congress. You can read the entire letter to Rep. Charles Rangel, the chair of the House Ways and Means Committee here, but here are the major examples it gives under the House bill:
♦ A single person with income of $26,500 in 2016 (225 percent of the FPL) would pay a premium of about $1,900 (after getting a premium subsidy of 64 percent) and could expect to pay another $900 in cost sharing (net of federal subsidies); thus, the average payment by such a person for the premium and cost sharing combined is projected to be $2,800, or about 11 percent of income.
♦ A family of four with income of about $54,000 (also 225 percent of the FPL in 2016) could expect to pay about the same share of its income for premiums and cost sharing.
♦ The average premium for a family policy would be $15,000 — $9,500 after subsidies.
♦ A family of four making $102,500 (four times the current federal poverty level) would pay $15,000 a year plus $5,500 in “cost sharing” (such as co-pays and percentages not covered by insurance) for a total of $20,500 per year.
Question: How many of you keep track of what your health care is costing you now? If so, would you care to share? I’ll be happy to go first. It’s about half of these numbers, but my plan is shared by my employer).
Meanwhile, a North Carolina congresswoman had an interesting take on this today. Rep. Virginia Foxx said health care reform is a greater threat to the country than any terrorist in any country.