Let's say you're a...
2012
vs.
2014
Middle-class family of four...Tie
Tie
...with insurance through work
The average premium for an employer-insured family of four recently hit $15,073, about $4,000 of which was paid by the family and the rest made up by the employer.
Roughly the same. Though some 7 percent of workers covered by their employers are expected to opt out of those plans in favor of cheaper options on an exchange.
Cheaper
Cheaper
...that's self-insured
Rates vary depending on things like pre-existing conditions, which can include asthma, lupus, and employment as a circus worker. A healthy family of non-smokers in New York, for example, can pay anywhere between $10,500 annually for an HMO with high deductibles to over $96,000.
You’ll pick a plan through an insurance exchange, which will offer subsidies to help you afford it. A family of four earning $60,000 could pay about $5,000 a year.
Cheaper
Tie
...without insurance
On the surface, this costs you $0—but it’s risky. According to one estimate, 26,000 American adults die each year because they can’t afford insurance.
You’ll have to pay a penalty of $285 a year, or 1% of your annual income. That penalty will gradually increase, reaching $2,085 per family by 2016, or 2.5% of annual income, whichever is greater.
Single twenty-something...Tie
Tie
...with insurance through work
The average premium for single person recently hit $5,429, about $900 of which was paid by the worker. Of course, under the new law, you can stick with your parents’ insurance until you’re 26 and pay nothing.
Most likely, no change.
Tie
Cheaper
...who's self-insured
Again, varies. But as an example, a non-smoking 26-year-old male in Pennsylvania could pay about $325 a month, or $3,900 annually.
A 26-year-old single adult who pulls in $30,000 a year will be able to buy a policy through an exchange for an estimated $3,391, according to the Kaiser Foundation. After a tax credit of $882, he’d pay $2,509.
Cheaper
Tie
...without insurance
Cheap, and popular: By some accounts, 30% of American adults aged 19-29 don’t have health insurance. But again, risky.
Penalty time: $95 or 1% of the person’s income, increasing to $325 or 2% of income, whichever is higher, in 2015.
65 or olderTie
Cheaper
...with Medicare
Even if you’re eligible, it’s not free. One study found that 22% of retired senior citizens supplemented their government coverage with retiree benefits of one kind or another. By some estimates, a couple aged 65 or older needs to have more than $300,000 on hand to meet future healthcare costs not covered by Medicare.
Costs should decrease for everything from prescription drugs to medical devices. Brand name drugs could cost 50% less, and federal subsidies would gradually make up the rest of the cost for Medicare beneficiaries between 2014 and 2020.
Sources: The Kaiser Family Foundation, Department of Health and Human Services, Congressional Budget Office, and the Employee Benefit Research Institute.
