AARP - under AHCA a 64-year-old with a $25,000 income, premiums could go up as much as $7,000 (Congress, health care)

[KRAMERCAT]

Paul Ryan has a 'better way' to screw seniors...

'Paul Ryan's "A Better Way" plan describes the 3:1 ratio as "an unrealistic regulation" and stresses the need to "fix the age-rating ratio" by "limiting the cost of an older individual's plan to no more than five times what a younger person pays in premiums.

Before the AHCA was introduced, AARP's Public Policy Institute commissioned a study to assess the impact of changing the 3:1 limit to the 5:1 limit that the AHCA mandates. Milliman, the independent actuarial firm performing the study, found that adults aged 60 and older would experience a dramatic increase in premiums.

How dramatic? The average premium increase would be $3,200. This would bring average annual premiums up to $17,900 for someone aged 60 or older who purchases health insurance on the individual market.

Commonwealth Fund also analyzed the potential cost increases and found that everyone over age 47 would experience a premium increase.

After the release of the AHCA, AARP analyzed the proposed changes and suggested that cost increases could be even higher for seniors than originally predicted. A letter to Congress sent by AARP warned that, when taking into account both the rules for refundable tax credits and the 5:1 ratio, premiums could increase by as much as $3,600 for a 55-year-old with a $25,000 annual income .

For a 64-year-old with the same $25,000 income, premiums could go up as much as $7,000. If that same 64-year-old had an income of just $15,000 a year, the premium increase would actually be higher -- up to $8,400.

https://www.fool.com/retirement/2017...tes-skyro.aspx

[marigolds6]

If the individual mandate is lifted too though, wouldn't demand for health insurance for young people drop, causing the lowest insurance rates to drop precipitously and offsetting some of that ratio increase?
(Because of the way rate regulation works, the insurance companies would have to lower rates to keep young people on plans rather than just ignore them and drop them.)

[neko_mimi]

Or another way to put it is "the burden on tax payers could go down as much as $7,000".

[don1945]

What's the problem ???? This new healthcare act only hurts the poor, the elderly, and those with pre-existing conditions. If you are a healthy 25 year old, you will be just fine.

[pknopp]

Screw AARP.....Ryan's plan is terrible BUT the AARP pimped for Obamacare and then got themselves an exemption.

Articles: AARP's ObamaCare Endgame Revealed

AARP has financial interests in all of this and sold seniors out for the $$$$$.

I no longer get Postage Paid junk mail from them as I would always send it back empty.

[JGMotorsport64]

If you look at pages on Facebook that are still supporting Trump, they are all formerly blue collared old people.

And they all are cheering for this.

I am continually amazed at the white working class' pride in voting against its own interests. It makes no sense and they won't hear otherwise.

[Grainraiser]

I can't wait for the CBO to score this plan. Those with townhall's are going to get a ear full.

[G1..]

Originally Posted by don1945

What's the problem ???? This new healthcare act only hurts the poor, the elderly, and those with pre-existing conditions. If you are a healthy 25 year old, you will be just fine.

Any wonder why Congress isn't part of this Health care plain!

[gentlearts]

You cannot say what the plan will be, nor how much it will cost. Nobody knows that yet.

[Ponderosa]

The GOP has the right idea in that the cost to young people is too high and discourages them from signing up. They fix it buy raising costs for older people though. That's not really a fix and will hurt those who most need health insurance. Shifting burdens around is not going solve the problem that health care is simply too expensive for most Americans.