Post Date: November 16, 2016

More than half the Americans have declared that they can only afford to spend $100 or less on medical insurance. The amount of money Americans are willing to spend on health insurance is way below the monthly cost of cheap health-care plans like Obamacare. The people claim that the premiums are too high and are opting for other individualized insurance plans that are within their budget.

The main problem is being experienced by those who need to buy medical insurance through Obamacare exchanges without subsidies. Americans are citing this difference for the second time in a row claiming they cannot pay more than $100 for medical insurance. The average premium cost for the most basic plan is above $300, and people are finding it more difficult to keep up with the rates. The difference in the rates and what people are willing to pay is enlarging the gap between privately purchased health insurance between the unsubsidized and the subsidized.

Americans who get a federal subsidy to buy insurance can fit the premiums for individual health insurance into their budget. The same applies for those who receive subsidized health-care through their employers. Individual health plans are affordable since they cost on average $94 per month. Those receiving a federal subsidy do not pay a lot from their pockets for the premiums. Premium costs are predicted to rise in 2017 for employer-sponsored plans to nearly $1500, and deductibles at small companies could go as high as $2000.

Americans are opting for individual health plans as they are more affordable. Most Americans have budgeted 4100 for their medical insurance, and the Obamacare premiums are not gaining popularity since they are way above the comfort level of the people. The difference in health-care premiums only tells part of the story when it comes to the affordability of health-care. If the premiums continue increasing, Americans will not have the ability to cater for their health care costs and people will drop out of the health insurance plan.