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Final Word On Obamacare Coverage: Cheaper Than Expected
Final Word On Obamacare Coverage: Cheaper Than Expected
Dylan Scott
Though there will be variations across the country, most Americans will be able to choose from multiple health insurance plans and pay lower-than-expected premiums for coverage on the Obamacare health insurance marketplaces, according to data released Wednesday by the U.S. Department of Health and Human Services...for the 36 states participating in the federal marketplace, with some additional information from 11 states with state-based marketplaces, 95 percent of Americans will be able to choose between two or more health insurance carriers and will live in states where premiums are lower than originally estimated by the Congressional Budget Office.
<...>
On average, people will have a choice of 56 different insurance plans -- depending on which state you live in, though, that figure could range from seven (in Alabama) to 106 (in Arizona). The average number of insurers in a state is eight, though that again ranges from one to 13 in different states.
As for premiums, before tax credits kick in, they will average 16 percent below the Congressional Budget Office's original estimates for a silver-level plan (which covers 70 percent of costs). The number of insurers in a state is directly tied to how low premiums will be, Lambrew noted. Arizona, with an average of 106 plans to choose from, had the lowest average premium for a 27-year-old adult: $166 a month. Wyoming, with an average of 16 plans, had the highest average premium at $342 a month...then the tax credits take effect. Those knock the premium for that 27-year-old, projected to earn $25,000, down to $145 in most states. For a family of four making $50,000, the credits take the premium price down from more than $1,000 in some states to $282.
The numbers before and after tax credits drop even further for bronze-level plans (which cover 60 percent of costs), often below $100 on average when tax credits are accounted for. White House officials routinely note a recent study that found 6 in 10 uninsured Americans will be able to purchase coverage for less than $100 a month.
- more -
http://talkingpointsmemo.com/dc/final-word-on-obamacare-coverage-cheaper-than-expected
Dylan Scott
Though there will be variations across the country, most Americans will be able to choose from multiple health insurance plans and pay lower-than-expected premiums for coverage on the Obamacare health insurance marketplaces, according to data released Wednesday by the U.S. Department of Health and Human Services...for the 36 states participating in the federal marketplace, with some additional information from 11 states with state-based marketplaces, 95 percent of Americans will be able to choose between two or more health insurance carriers and will live in states where premiums are lower than originally estimated by the Congressional Budget Office.
<...>
On average, people will have a choice of 56 different insurance plans -- depending on which state you live in, though, that figure could range from seven (in Alabama) to 106 (in Arizona). The average number of insurers in a state is eight, though that again ranges from one to 13 in different states.
As for premiums, before tax credits kick in, they will average 16 percent below the Congressional Budget Office's original estimates for a silver-level plan (which covers 70 percent of costs). The number of insurers in a state is directly tied to how low premiums will be, Lambrew noted. Arizona, with an average of 106 plans to choose from, had the lowest average premium for a 27-year-old adult: $166 a month. Wyoming, with an average of 16 plans, had the highest average premium at $342 a month...then the tax credits take effect. Those knock the premium for that 27-year-old, projected to earn $25,000, down to $145 in most states. For a family of four making $50,000, the credits take the premium price down from more than $1,000 in some states to $282.
The numbers before and after tax credits drop even further for bronze-level plans (which cover 60 percent of costs), often below $100 on average when tax credits are accounted for. White House officials routinely note a recent study that found 6 in 10 uninsured Americans will be able to purchase coverage for less than $100 a month.
- more -
http://talkingpointsmemo.com/dc/final-word-on-obamacare-coverage-cheaper-than-expected
It's Obamacare.
http://www.democraticunderground.com/10023715400
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