Insurance+Rates

=What is an Insurance Premium?= An insurance premium is the rate(cost) at which an insurance company will ask of you. With the heavy subsidies with Obamacare, insurance rates are sure to go up. The reasoning behind this is that because the insurance companies are getting heavier taxed, they will raise their premiums to keep up ion the public market and sustain itself.

=Why is it important?= Well, if Obamacare is made to create an even playing field between both poor and rich why would it and why should make insurance companies increase their premiums? Thus, if you are not on Obamcare and if you have a private insurer your rates will go up. This will cause many to loose many and make it so families who are not on Obamacare will pay more.

=What is the data?=


 * Premiums are expected to increase from 1.9% to 2.3% in 2014
 * In 2023 the premium will have risen to 3.7%
 * If a similar mandate is still around in Massachusetts by 2020, the premium is expected to be $26,730