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HHS reports on health plan choice, premiums in 48 state marketplaces

July 26, 2013

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Individuals and families may be able to choose between six and 169 qualified health plans in 2014 in the 36 states with a federally facilitated or supported health insurance marketplace, or exchange, the Department of Health and Human Services (HHS) reported Sept. 25.

On average, eight different health insurance companies are expected to participate in each federally facilitated exchange, with premiums generally lower in states with more insurers participating, the agency said. In 48 states, including 12 implementing their own exchange, monthly premiums for the second-lowest-cost silver plan average 16% below an HHS-derived Congressional Budget Office projection of $392.

After tax credits, a family of four in Texas with income of $50,000, for example, could pay $282 per month for a plan at this tier, while a 27-year-old Texan could pay $145, HHS said. The agency estimates that 56% of uninsured Americans may qualify for premiums of less than $100 per month after tax credits. The findings could change once all of the plan data is available and HHS completes its review.

For more, click on: http://tinyurl.com/ntcowze.