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Blue Cross and Blue Shield of Louisiana is concerned that certain provisions in the current Senate Finance Committee bill will actually increase healthcare costs and decrease the choices consumers have in coverage plans.
Based on a new independent report by Oliver Wyman’s Actuarial and Health and Life Sciences certain provisions in the Senate bill will:
- discourage people from buying insurance until they are sick
- charge insurers fees that may be passed on to consumers
- increase premiums for the youngest third of the population
- require the insured to obtain higher-than-average benefits
Reported Impact on Louisiana Healthcare Premiums Under Senate Bill
- Individuals purchasing new coverage would see $1,754 in added costs for a single person and $3,953 in added costs for a family policy. A typical family with a current average premium of $8,057 would be paying $12,010 in Year 5 of reform.
- Employees of small businesses purchasing new coverage would see $3,177 in added costs for a family policy. A typical family with a current average premium of $11,690 would be paying $14,866 in Year 5 of reform.
- Even individuals with existing coverage would see their premiums go up due to the proposed new taxes. An individual policy would see $122 in added costs, and a family policy, $488.
You can read the full Wyman report or review the key findings. Use this report to become familiar with the financial impact this legislation would have on your healthcare coverage.
We encourage you to Take Action by contacting your members of Congress and voice your concerns over this bill.
Report and Resources
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