Report: Credit Score to 'Have a Big Impact' on How Much People Pay for Obamacare
11:06 AM, Oct 9, 2013 • By DANIEL HALPER
A Florida TV station reports that people's credit score's will "have a big impact" on how much they pay for Obamacare:
"As more and for families are looking for insurance options for the new Affordable Care Act, they're finding out their credit score will have a big impact on how much they pay," reports an anchor. "A lot of people want to know why credit scores are determining how much they pay."
"Well, they say it was explained to us like this: It's like buying a house or a car. Your credit score and other factors can determine your interest rate. In this case, it can determine how much you pay in premiums," the local reporter explains.
Says one Obamacare navigator: It's "so that a health insurance provider can make educated decision about who to insure based if somebody is defaulting on all their bills, they may not want to have them in part of their health plan."
UPDATE: The Obamacare navigator who made the claim that credit scores were going to impact health insurance rates has now walked back her claim:
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