Adding up health care costs for East Texans - KLTV.com - Tyler, Longview, Jacksonville |ETX News

Adding up health care costs for East Texans

By Layron Livingston - bio | email
Posted by Ellen Krafve - bio | email

EAST TEXAS (KLTV) - Republican lawmakers are already working to repeal the $940,000,000,000 health care bill. They say the price tag is too big a pill for America to swallow.

Lawmakers say the money will come from a mix of cuts to Medicare spending to the tune of nearly half a billion dollars, and tax increases on wealthy Americans.

Individuals who make $200,000 and couples making $250,000 a year will pay higher Medicare payroll taxes: 2.35%, up from 1.45%.

Investment income will also be taxed. The amount you can deduct for medical expenses will also decrease.

What about your current insurance premiums? The Congressional Budget Office estimates most premiums will remain the same for those who get insurance through their employers. In fact, the average change for large group market premiums could be anywhere from 0% to 3% decrease.

But, folks who buy insurance on their own could see their premiums go up 10%-13%.

But, they will get a little help in the form of government subsidies to help lower their insurance costs.

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