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The bill will not bring down premiums significantly, and certainly not the $2,500/year that the President promised.
Annual premiums in 2016, status quo / with bill:
Small group market, single: $7,800 / $7,800
Small group market, family: $19,3oo / $19,200
Large Group market, single: $7,400 / $7,300
Large group market, family: $21,100 / $21,300
Individual market, single: $5,500 / $5,800*
Individual market, family: $13,100 / $15,200
Many Massachusetts residents forgo health care because they can’t afford it.
A 2009 study by the state of Massachusetts found that:
•21% of residents forgo medical treatment because they can’t afford it, including 12% of children
•18% have health insurance but can’t afford to use it
This bill does not limit insurance company rate hikes. Private insurers continue to be exempt from anti-trust laws, and are free to raise rates without fear of competition in many areas of the country.