Daily News Updates - Health Insurance News

Mass. Health, A Creator Explains, Pt.5 – With benefits secured, next issue is project cost.

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With the ‘free-rider’ problem finally resolved, the next step is to ensure the remainder of the state is covered. Those not qualified for the ‘federal entitlement’ who can afford it, will be expected to purchase health insurance. Those who still can’t afford it, will, at least, be expected to pay some for health insurance. That’s not all bad. The cost of health insurance premiums is better than ever.

Before the plan went into effect, the average cost for a healthy medium-aged person who had health insurance was $335 per month. But, since the plan has taken effect, those costs are down to a little more than half that. Even better, the health insurance benefits are twice as good.

Even more good news, the costs of the Connector-based policies are even cheaper than they were expected to be. So, in addition to the phenomenal social benefits, the ‘market forces’ are even coming into play with more competitive health insurance pricing. Still there are those critics that complain the system is costing too much. To this, Mr. Romney asserts that refinement is always ongoing and those costs will continually be reduced. Many of these critics are ‘overstating’ the problem because they fail to consider the “hundreds of millions it saves by replacing prior programs for the uninsured.” Not only that, there are ‘mid-course’ corrections in the make right now that may “significantly lower cost and improve the program.” Mitt discusses just a few in the next articles following this one.

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