IE Business Daily Business news for the Inland Empire.
Health insurance subsidies associated with the Affordable Care Act will cost slightly less than previously expected.
The subsidies under Obamacare will total a little more than $1 trillion during the next 10 years, rather than close to $1.2 trillion, as originally estimated, according to a report released today by the Congressional Budget Office.
Tighter cost controls and stricter limits on treatment options from insurance companies offering plans are being cited for the eight percent reduction.
Cost of premiums will not explode next year, as some have predicted, but they are expected to rise moderately: from an average of $3,800 this year to $3,900 next year, according to the data.
The report, posted on the budget office’s website, also predicts that people signing up for coverage next year will be younger and healthier than those who signed up in 2014. The budget office does financial research and budget estimates for members of congress in both parties.
