Study: Health care law to increase costs in Calif.
SACRAMENTO, Calif. (AP) — A study by the nation’s leading group of financial risk analysts says costs for medical claims filed by individual policy holders could rise as much as 62 percent in California under the Affordable Care Act.
The greater costs could mean higher insurance premiums for residents who will buy individual policies through California’s health benefit exchange.
The study released Tuesday by the Society of Actuaries stated that the increase will be in large part because sicker people will join the individual insurance pool.
In California, the study estimated medical claim costs will rise 62 percent. If the state had not accepted an expansion of Medicaid, the cost increase would be smaller, about 55 percent.
The report does not project medical claim costs for employer-sponsored plans, which cover the majority of workers.
Copyright 2013 The Associated Press.