Pay the insurance, or pay the mortgage? If you don’t qualify for subsidies under the Affordable Care Act (read: make more than $47,520 as an individual or $97,200 as a family of four), it’s a choice you may be facing this year. Rate increases are happening across the board and across the country:
“Premiums are expected to climb next year in many areas because major insurers have taken significant financial losses under the health law. Enrollment has been lower than anticipated, new customers were sicker than expected and a government system to stabilize the markets had problems.” Another major driver of cost increases is health benefit mandates passed at the state level.