Posted at: 09/05/2013 10:59 PM
Updated at: 09/05/2013 11:03 PM
By: Dan Conradt
Questions Surround Affordable Care Act
(ABC 6 NEWS) -- It's designed to make sure all Americans have health care coverage.
But even with affordable in its name, there are questions up and down main street about whether it is.
And there are still no clear-cut answers.
"Everybody's going to be impacted," said Charles Moline at AdvisorNet Financial in Austin.
And we're getting a better idea of how the Affordable Care Act is going to impact us.
"The rule of thumb we've been told is if you're young and healthy you're going to be rewarded with a 30 to 40 percent increase in premiums," Moline said.
A new study says a 21 year old buying a mid-range policy will pay about $270 a month for that insurance before tax credits that would bring down costs. Those numbers are based on premiums already announced in eleven states. Minnesota is not one of them.
"We still don't know what those premium numbers are going to be," Moline explained.
In many cases, employers will continue to provide health insurance.
"They're still unsure how it will affect their employees, they're unsure whether they're going to have the same options they now have," said Sandy Forstner at the Austin-area Chamber of Commerce.
“You're finding a lot of employers who are cutting back the hours of employees, they're not having to be counted or covered," Moline added.
And that means many people will be shopping for their own coverage.
"And in Minnesota we will have both a private exchange and we'll have MNsure, which will be the public exchange," Moline explained.
MNsure rolls-out on October first, and until then:
"I think the frustrating thing is they're still confused, and they're still unsure of how it's going to affect them," said Forstner.
“So this is still a target that's really tough to nail down. it's kind of like squeezing Jell-O," Moline added.
The Affordable Care Act officially goes into effect January first.