NJ Premiums Could Rise By 17.74%

By Matt Rooney | The Save Jersey Blog

ObamaCareObamaCare’s exchanges will begin accepting applicants in a mere matter of hours, Save Jerseyans.

What should you expect almost immediately, regardless of whether you plan to enroll?

Well, for starters, expect to pay higher health care premiums. Chances are you’re already paying extra thanks to the (Un)affordable Care Act.

RNC Research estimates 17.74% higher in New Jersey.

This is how they came up with its estimates: “[t]o complete a fair analysis, we looked at two sets of data at RNC Research. First, we took the HHS-released data on the lowest average monthly premium of a bronze plan for a 27-year-old in the various states under the exchanges. We compared those rates against the states’ average premiums for 30-year old nonsmoking males that were included in a July 2013 study from the U.S. Government Accountability Office. We calculated out the difference between the premium rates. In every state, there’s a sizable increase.”

Not very controversial. And the RNC isn’t the only organization predicting higher premiums.

A Manhattan Institute analysis of the data released by Health and Human Services (HHS) predicts average national premium increases between 97% and 99% for young men and 55% to 62% for young women. The Forbes article’s author posits that premiums could also dip on average in New Jersey due to the fact that our insurance market is already “dysfunctional.” Our state already piles numerous mandates on health insurance consumers.

We’ll see who’s ultimately proved right very, very soon.

I don’t see much reason for optimism. We found out yesterday that “insurance prices on New Jersey’s exchange will be among the most expensive in the country for those without subsidies.” When it comes to major legislation, usually what’s bad for some is bad for all.

What do we know for sure? Younger, healthy Americans in their saving/buying/settling down years are likely to start paying a lot more across the country and here in the Garden State, too, in the months and years to come. That’s never a good thing for an already weakened economy, Save Jerseyans, no matter how you choose to slice it…

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