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After looking at this thread: http://www.debatepolitics.com/off-topic-discussion/175028-sense-does-make.html I decided to check to see what a 25 year old male smoker in Illinois would pay for the same Health Insurance coverage I had when I was a self-employed 25 year old smoker back in 2002 and the difference is quite interesting.
I had a $2,500 deductible, $5,000 max out of pocket with 80% coinsurance back then ($25 copay) and I paid about $300 a month for it.
Comparatively, a 25 year old male smoker in Illinois can now get a plan with a $1,500 deductible, $3,500 max out of pocket with 80% coinsurance ($10 copay) for about $240 per month.
Not too shabby. That's without adjusting for inflation, too.
If we adjust for inflation, my coverage then was the equivalent of a plan with a $3,250 deductible, $6,500 out of pocket with a $30 copay today and it cost me $390 per month (this website: CPI Inflation Calculator was used for inflation calculations).
What's interesting is that there is a plan available today that would only cost $230 per month that has $3250 as the max out of pocket cost and deductible which has a 100% coinsurance.
So it looks like I would have saved a lot of money on health insurance if Obamacare existed in 2002. I found this interesting.
I had a $2,500 deductible, $5,000 max out of pocket with 80% coinsurance back then ($25 copay) and I paid about $300 a month for it.
Comparatively, a 25 year old male smoker in Illinois can now get a plan with a $1,500 deductible, $3,500 max out of pocket with 80% coinsurance ($10 copay) for about $240 per month.
Not too shabby. That's without adjusting for inflation, too.
If we adjust for inflation, my coverage then was the equivalent of a plan with a $3,250 deductible, $6,500 out of pocket with a $30 copay today and it cost me $390 per month (this website: CPI Inflation Calculator was used for inflation calculations).
What's interesting is that there is a plan available today that would only cost $230 per month that has $3250 as the max out of pocket cost and deductible which has a 100% coinsurance.
So it looks like I would have saved a lot of money on health insurance if Obamacare existed in 2002. I found this interesting.
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