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Covered California Q&A

Covered California and Obamacare related questions from consumers, employers and agents are answered by Phil Daigle with the best information available at the time. Archived entries may no longer be accurate as the Covered California and Obamacare knowledge-base is evolving quickly. TO REQUEST A PERSONAL RESPONSE INCLUDE EMAIL ADDRESS.


Cost Comparison for Higher Income Insureds

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Question: Someone buying insurance earns $200,000 a year. Will the cost be less to buy coverage outside the exchange rather than inside the exchange? If buying out side the exchange would reduce costs and all else being equal there would no attraction for people with higher incomes to use the exchange.

Answer: The cost for unsubsidized individuals will be the same whether in the exchange or not. There is no financial incentive one way or the other in this scenario.

1 Comment

Hopefully in time, the increased competition and the individual mandate will drive costs down. One of my clients makes $76,000 and is making too much to qualify for a subsidy but is also concered with the outrageous cost of her health insurance. We are hoping prices will come down once the exchange opens, but there is no way to know for sure.

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