From Health Affairs “Web First“:
There are more than 11 million Americans under the age of 65 covered by private individual health insurance plans, also called nongroup insurance. For this group, who are usually unable to get coverage through an employer, the implementation of the Affordable Care Act of 2010 will bring welcome financial relief. A new study, released today as a Web First by Health Affairs, simulated the effects of health reform on these individuals plans during 2001-08 and found that their average annual out-of-pocket savings on medical care and drugs might have been anywhere from $280 over the entire population to as much as $589 for those between 55 and 64. Under the Affordable Care Act, these individuals would obtain their insurance through insurance exchanges, and benefit generosity would vary with income. The author predicts that average savings for annual out-of-pocket spending on care would fall anywhere from $535 to $104, with those with lower incomes realizing more of a savings.
The article will be published in the June edition of Health Affairs. To read the complete post, click here.