Obamacare may take (some) care of your Car Insurance as well
By Rock Watson
@allaboutcars (6)
Los Angeles, California
May 21, 2014 8:23am CST
Do you think you are paying more for insuring your car? Well, you are going to get some help from The Patient Protection and Affordable Care Act (PPACA), commonly called the Affordable Care Act (ACA) or "Obamacare". The Act may be helpful in reducing your car insurance rates by 2%.
Rand Corporation’s recent study mentions that as more people will be covered under health insurance, there will be reduction in other insurance rates. With “Obamacare”, more people will have health insurance which means the health insurance company will cover the more of the cost which are currently handled by car insurers. This will reduce the expenditure of car insurance companies.
Now, only time will tell if the companies are ready to pass savings to customers. If they do, you and I can definitely get some relief in insurance rates.
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