Families Struggle as Health Insurance Costs Soar to $2,500 Per Month
Self-employed couples are forced to make tough choices, dipping into retirement savings and cutting back on luxuries to afford skyrocketing health insurance premiums.
When health insurance costs skyrocket to a staggering $2,500 per month, families are left with no choice but to make difficult trade-offs to afford coverage. This is the harsh reality facing a growing number of self-employed individuals and couples, including Ken Warner and Parveen Vohra, who live in Manchester, Connecticut.
Warner, a sci-fi and fantasy novelist, and his wife Vohra, a therapist, have been purchasing their insurance through the Affordable Care Act's marketplace, HealthCare.gov. But the cost of their plan has become increasingly burdensome, forcing them to make tough decisions to keep their coverage intact.
The couple has already had to dip into their retirement savings to cover their soaring medical expenses, a move that should concern many Americans facing similar challenges.
Source: NPR
