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Affordable Care Act proposal is a good start, Independence Blue Cross chief says
Hilferty and other insurance executives also would like Congress to amend the ACA to allow them to charge older consumers up to five times more than younger consumers, up from the current limit of three times. The goal is to attract more younger, healthier people to pay into the insurance pool by charging them less than insurers are allowed to now.
AARP called the proposal to allow insurers to charge up to five times more for older consumers an "age tax." A bill that would do that was introduced in the House of Representatives on Jan. 27.
An AARP study estimated that the change would raise average annual premiums for 60-year-olds by $3,200 and reduce them for 20-to-29-year-olds by $700.
Hilferty and other insurance executives also would like Congress to amend the ACA to allow them to charge older consumers up to five times more than younger consumers, up from the current limit of three times. The goal is to attract more younger, healthier people to pay into the insurance pool by charging them less than insurers are allowed to now.
AARP called the proposal to allow insurers to charge up to five times more for older consumers an "age tax." A bill that would do that was introduced in the House of Representatives on Jan. 27.
An AARP study estimated that the change would raise average annual premiums for 60-year-olds by $3,200 and reduce them for 20-to-29-year-olds by $700.