Americans will moderate incomes who qualify for subsidized coverage through the new marketplaces but must still pay 6 percent to 9.5 percent of their earnings in monthly premiums could have a hard time affording health insurance under the Patient Protection and Affordable Care Act, health policy experts told Kaiser Health News.
The amount people must contribute toward their coverage through the PPACA health insurance exchanges rises along with their income, ranging from 2 percent for those earning to least to a maximum of 9.5 percent for those earning as much as 400 percent of the federal poverty level, according to the report.
People earning 250 percent of the federal poverty level and above don't qualify for the reduced payments for deductibles and copayments the healthcare reform law provides for those with lower incomes. However, the law does cap out-of-pocket payments at $6,350 annually for an individual or $12,700 for a family for those with incomes that are 250 percent of the federal poverty level or higher, according to the report.
Policy experts still advise people with moderate household incomes to purchase health insurance — even if it's a struggle and eats up 9.5 percent of their earnings — because it's better than ending up in the hospital unexpectedly without insurance.
People without insurance tend to go without care they want or need, or they end up going into debt to get treatment, Sarah Lueck, senior policy analyst with the Center on Budget and Policy Priorities, told Kaiser Health News.
More Articles on Healthcare Costs:
HHS: PPACA Reduced Premium Costs by $1.2B in 2012
Study: Not Reporting Income Changes Could Cost Consumers in New Marketplaces
Report: Spending Growth About the Same in 2012 for Privately Insured