Monday, July 5, 2021

Healthcare

In 2020 there were 76 million people enrolled in Medicaid. 20 million of these were added because of Obamacare which allowed single adults to be eligible. Prior to that only women with children, disabled and some elderly were eligible. For those with incomes of less than 133% of the poverty rate Medicaid is free. For a single person that is $18,000 per year. For a single parent with two children that is $30,000 per year. There are still 30 million people who are not insured and about 6 million of these qualify for free Medicaid but they failed to sign up. Some say that is because there are no preexisting conditions and people can wait until they get sick to sign on. People who have higher incomes can stay on Obamacare where premiums are subsidized for the low income group. The average subsidy is $492 per month and the average premium is $576 per month so this is affordable but the deductibles are prohibitive for many. Depending on income the out of pocket expenses per year are $2,200 up to $6,300 for single coverage and twice that for family. That is the reason many are still uninsured. Young single males are not interested in health insurance.

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