POSTED: 12:37 p.m. HST, Mar 26, 2013
LAST UPDATED: 12:37 p.m. HST, Mar 26, 2013
Hawaii residents with individual health insurance could end up paying about 22 percent more for medical claims costs under President Barack Obama’s new health care law, according to a new report by financial risk analysts.
The Society of Actuaries published the study Tuesday which says that more people buying individual health insurance could cause medical claim costs to increase an average of 32 percent nationwide.
That could lead to higher health insurance premiums.
The study says that the vast majority of states will see costs rise but some —— such as New York and Vermont —— will see costs decrease.
The Obama administration disputed the study, saying that it doesn’t take into account other aspects of the law that would reduce costs such as tax credits, subsidies and increased competition.