The Truth About California

Over the past couple of days, we have heard reports out of California that health care premiums will go down under the new the Affordable Health Care Act. While people are shouting from the roof tops “Good news! Good news!”, the truth is that the California press release was misleading and many will indeed pay more next year.

According to a recent Forbes article, “…the average 25 and 40-year-old will pay double under Obamacare what they would need to pay today, based on rates posted at eHealthInsurance.com (NASDAQ:EHTH). More specifically, for the typical 25-year-old male non-smoker, the average Obamacare “bronze” exchange plan in California will cost between 64 and 117 percent more than the cheapest five plans on eHealth. For 40-year-old male non-smokers, it’s between 73 and 146 percent more.”

The truth out of California looks like it is not really good news after all.

Click here to read the full Forbes article.