Tuesday, February 27, 2024
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What Obamacare really could be costing women

With less than two weeks left to sign up for health insurance on Obamacare exchanges, women who are thinking of gambling on not getting coverage this year may want to consider a new study that suggests that coverage could mean more money in their pockets than if they remain uninsured.

Take the case of a 27-year-old woman who buys the least-expensive "bronze" Obamacare plan with an average cost of $1,116 annually. First off, she would not have to pay $115 in out-of-pocket costs for some standard women's health services, including contraceptives and pap smears, the NerdWallet analysis found.

The analysis suggests a woman might come out financially ahead even if she buys a pricier "silver" Obamacare plan, with an average annual cost of $1,740, provided she uses more than the handful of "standard" services that the price-comparison company used as a baseline for annual costs.

(Read more: Obamacare enrollment tops 5 million, two weeks out )

However, if she used only those few services and remained uninsured, that average 27-year-old in a silver plan would spend about $510 per year more on insurance premiums than on the total average of $1,231 in out-of-pocket costs.

But she would also have insurance that would cover a range of additional benefits if she needed them. The analysis assumed this 27-year-old earned $25,000 per year, qualifying her for government subsidies to offset the cost of Obamacare premiums.

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