Americans will face steep premiums under the government-negotiated private plans and massive expansion of Medicare at the core of Harry Reid’s new “public option.” A family of four making $54,000 would pay more than $825 per month for one federally-managed plan — that even after a $10,100 government subsidy.
A 55-year-old couple buying into the Medicare expansion could pay $15,200 per year under the Reid plan, and it remains unclear how much if any of that cost would be subsidized. The Medicare buy-in would only be available to individuals 55-and-over, not younger family members, and it would be attached to premium and financing structures separate from the rest of Medicare, with no cap on out-of-pocket expenses.
And these, alas, are only the direct costs of the bill.
The NYT has the full story here, and you can track the latest on Obamacare at NRO On the News.