Health Care Insurance Act May Decrease Insurance Premiums

Health Care Insurance Act May Decrease Insurance Premiums

Since the idea of the new health care act was put into place there has been a lot of controversy. One side would highlight the benefits while the other would only speak on the possible negative outcome. While the act has been passed by congress, there is still debate going on and it may even be appealed.

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However, a recent report made by the Congressional budget office is showing that the act will indeed lower insurance premiums. However the changes will not be seen until the act is in full effect in 2014. Benefits include the tax credits for middle class families will increase, saving them approximately $14,000 a year through reduced cost-sharing.

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It is also reported that without the act, insurance rates were likely to continue to rise drastically, as they have been for the past several years. The act also will force insurance companies to spend more of the premium payments on improvement and health care rather than administrative costs.

Filed Under: FeaturedHealth Policies News

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