This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Proposed Health Plans Would Likely Cost Less

WASHINGTON ( TheStreet) -- President Barack Obama asked Congress not to "walk away" from health care reform during his State of the Union speech on Wednesday. As legislators grapple with how to pay for a program that could cost as much as $1 trillion over 10 years, Americans are wondering how much they might have to pay for government-sponsored coverage.

While the cost for consumers will be unclear until the House and Senate bills are combined, a review of the bills gives some hints as to where it would hit the average American's wallet.

What would premiums cost?

The Congressional Budget Office estimates that insurance under the proposed "bronze" plans, the lowest level of coverage, would cost as much as $5,000 for single policies and as much as $12,500 for family policies by 2016. The average premiums among all types of plans in 2016 would be $5,800 for single policies and about $15,200 for family policies.

That's less than the current premiums for employer-sponsored health insurance. The average annual premium for these family plans has more than doubled from $5,791 in 1999 to $13,375 in 2009, according to the Kaiser Family Foundation, a health care think tank. Individual plans rose from $2,471 to $4,824 during the same time period.

On average, covered workers contributed 17% of the total premium for single coverage and 27% for family coverage in 2009, a rate that has remained relatively stable for the past several years, according to the foundation

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
FB $82.47 2.50%
GOOG $540.36 0.22%
TSLA $248.83 0.19%
YHOO $43.21 0.14%
AAPL $130.16 0.15%

Markets

DOW 18,076.27 +64.33 0.36%
S&P 500 2,114.07 +4.47 0.21%
NASDAQ 5,099.2310 +22.7070 0.45%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs