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  1. #1
    Senior Member JohnDoe2's Avatar
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    New Mexico exchange insurance below national average

    New Mexico exchange insurance below national average
    Posted: Wednesday, September 25, 2013 8:05 am | Updated: 9:32 am, Wed Sep 25, 2013.
    Associated Press
    New Mexico's health insurance marketplace, which starts enrolling consumers next week, will offer medical coverage plans costing less than the national average, according to a new federal report.

    Uninsured New Mexicans and small businesses can begin next Tuesday to shop for health plans through the state's newly established health insurance exchange.

    A report by the U.S. Department of Health and Human Services said individuals in New Mexico will pay an average of $282 a month for a mid-range insurance plan considered a benchmark by the federal government. That's lower than the national average of $328. Those costs are before people apply any tax credits they may be eligible to receive.

    Consumers can select from plans with a range of coverage called bronze, silver, gold and platinum. The least costly or bronze plans will require people to pay more out-of-pocket expenses.

    With New Mexico having among the highest poverty rates in the nation, it's important to keep insurance premiums affordable through the exchange, said Barbara Webber, executive director of Health Action New Mexico.

    "I think that competition worked in this case," Webber said of the premiums for plans to be offered through the exchange by five private insurers.

    According to the federal report, premiums for the lowest cost silver insurance plans will average $275 a month for individuals in New Mexico compared with $310 nationally.

    The lowest cost bronze plans will average $217 monthly -- about $32 less than the national average for similar coverage.

    Bronze plans are to cover about 60 percent of health care costs on average, with 70 percent coverage for silver plans.

    Tax credits can make a significant difference in the cost of insurance.

    For a family of four with an income of $50,000, according to the federal report, the second lowest-cost silver plan will average $672 monthly in New Mexico before credits are used. The price drops to $282 a month with the subsidies, however.

    Webber said it's not surprising that New Mexico's premiums are lower than many other states, but she also credited New Mexico's insurance regulator for vetting the rates submitted by insurers for plans to be available through the exchange.

    "The fact is things are not going to be as expensive here as let's say Boston, where things are going to be crazy," she said.
    http://www.santafenewmexican.com/news/local_news/article_8953412e-0778-542c-b878-969917cf9720.html
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  2. #2
    Senior Member JohnDoe2's Avatar
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    Feds release premiums for Arizona health plans


    Posted: Sep 25, 2013 9:37 AM PDT <em class="wnDate">Wednesday, September 25, 2013 12:37 PM EST</em>Updated: Sep 25, 2013 9:37 AM PDT <em class="wnDate">Wednesday, September 25, 2013 12:37 PM EST</em>

    PHOENIX (AP) - Arizonans looking to buy health insurance on federally run marketplaces opening Oct. 1 now have an idea what a policy will cost.

    Premiums released by the Department of Health and Human Services late Tuesday show the two lowest-cost "silver" plans that pay for 70% of medical costs under the Affordable Care Act will cost $248 and $252 per month, on average, before tax credits that will cut the price for lower-income residents. That's substantially less than the national average of $310 or $328 for those plans.

    The cheapest bronze plan, which covers 60% of costs, is $214 a month, compared with a national average of $249.

    Details about the offerings have been widely anticipated, as Arizona and 35 other states that opted to let the federal government run their insurance marketplaces were left to wait for the federal announcement.

    About 20% of Arizonans don't have insurance, but at least 300,000 are expected to get Medicaid coverage for the poor starting Jan. 1. That leaves about 600,000 people without insurance, many of them eligible to buy it through the exchanges.
    Costs will vary by age, area and other factors such as smoking.

    The information released by HHS didn't include premiums by age group or a list of insurers offering policies in the state. That information will be available on the federal insurance marketplace website, https://www.healthcare.gov , starting Oct. 1, unless HHS releases it sooner. Policies will take effect Jan. 1, and open enrollment ends March 31.

    The agency did break out costs for a 27-year-old person. The lowest-priced bronze plan costs $141, silver costs $164, and a gold plan that pays 80% of costs will be $187 a month. That's before tax credits that could pay some or all of the costs, depending on a person's income.

    For example, a 27-year-old who earns $25,000 a year and chooses the second-lowest-cost silver plan would save nearly $20 a month with the tax credits. A family of 4 earning $50,000 would pay $600 for a silver plan without the credit, $282 with the credit.

    The Arizona premiums are lower than the national average, according to HHS. The average premium for a 27-year-old buying a silver plan in Arizona is $164, compared with the national average of $203.

    The lower costs aren't a surprise because the state has a robust competitive marketplace for health insurance, according to Dr. Daniel Derksen, a University of Arizona public health policy and management professor.

    "I was expecting Arizona to come in less than the national average, and it has to do with the competition," Derksen said.


    http://www.myfoxphoenix.com/story/23...a-health-plans
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