Q: Will healthcare reform increase insurance premiums?

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Answer:

In some cases, yes. It depends on the type of insurance you have now and where you live, among other factors.

For example, older adults may see a reduction in their premiums, but younger adults may see an increase. This is because the law requires insurers to set prices within a 3:1 age band. Under this law, the cost of covering a 60 year old, for example, cannot be more than three times the cost of covering a 20 year old.

To help offset increases in premiums, some people will qualify for subsidies. If you qualify for these subsidies, your actual cost may be less than your insurance plan’s premium.

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Meet the experts to answer the commonly asked questions to help you understand the Health Care Exchange

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Linda V. Tiano

Member of the Firm at Epstein, Becker, and Green in Washington, DC and New York

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David Randall

Senior Vice President of Strategic Planning and Business Development at the University of Alabama at Birmingham Health System.

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Marti Lolli

Director of Health Care Reform at Priority Health in Michigan.

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