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Health Insurance Ruling Won't Make Coverage Cheaper For Most Americans

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Don't expect the cost of health care to get cheaper as a result of the Supreme Court's decision largely to uphold the Affordable Care Act and its individual insurance mandate.

In fact, health care costs will likely keep rising, just as they have for some time.

The Affordable Care Act will beef up coverage, insuring tens of millions of Americans who are currently uninsured and prohibiting insurance companies from denying care to children with pre-existing health conditions.

As a result, insurance companies will be paying more. And there's little doubt their customers will foot the bill with higher premiums and co-payments for doctor visits, as the Wall Street Journal reports.

In Massachusetts, which enacted its own health care reform law in 2006 requiring residents to buy health care, premiums for an individual plan rose 18 percent over the course of three years, according to SmartMoney.

Nationwide, the cost of health care has skyrocketed. Premiums for employees rose 3.8 percent at the end of last year, and the cost of insuring a family on an employer-sponsored health care plan is expected to surpass $20,000 for the first time ever this year.

Parents covering their kids -- who under the law can stay on their parents' plans until age 26 -- may also be paying more for health care. According to The New York Times, employers have begun charging workers per dependent, increasing employee contributions.

Older Americans, on the other hand, stand to save a lot of money as a result of the Supreme Court's decision to uphold the majority of the law. The Affordable Care Act extends discounts on prescription drugs for the elderly, and because insurance companies will no longer be allowed to discriminate based on age or pre-existing conditions, older Americans could see their premiums fall.

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