Thread: For millions, insurance will cost less than $100/month

For millions, insurance will cost less than $100/month

Kelly Kennedy, USA TODAY 12:06 a.m. EDT September 17, 2013

A report obtained by USA TODAY says the lower premiums primarily apply to "silver" plans.


HHS Secretary Kathleen Sebelius(Photo: J. Scott Applewhite, AP)

Story Highlights

• HHS report scheduled to be released Tuesday
• Rates were based on people who buy "silver" insurance plans
• Law "is making health insurance more affordable," says HHS Secretary Kathleen Sebelius

WASHINGTON — About 6.4 million Americans eligible to buy insurance through the new health exchanges will pay $100 or less a month in premiums because of tax subsidies, according to a Department of Health and Human Services report to be released Tuesday and obtained by USA TODAY.

The report by the HHS office for planning and evaluation said the lower premiums would primarily apply to insurance customers who buy what are called "silver" plans on the exchanges that open Oct. 1.

"The health care law is making health insurance more affordable," said HHS Secretary Kathleen Sebelius. "With more than half of all uninsured Americans able to get coverage at $100 or less, the health care law is delivering the quality, affordable coverage people are looking for."

The 2010 health care law, also called the Affordable Care Act, requires Americans without health insurance from their employers, Medicare or Medicaid to buy insurance through websites called exchanges that were created for each state. The law also allowed states to expand coverage under Medicaid, the federal-state program for low-income Americans.

Subsidies are available to Americans who make less than 400% of the poverty level, or $94,200 for a family of four. The rates were based on people buying silver plans through the exchanges, or the second-lowest-cost plan through the exchanges. Researchers looked at Census data to estimate costs.

Although not all of the states nor the federal exchange have announced their rates yet, researchers determined they could estimate payments without that information. As an example, the Affordable Care Act states that someone making 150% of the federal poverty level, or $17,235 a year, would pay 4% of their income — or $57 — for the second-lowest-cost plan. So, that person's subsidy would be the difference between the $57 and the cost of the silver plan in that state.

"Consequently, it is not necessary to know the actual second-lowest-cost silver premium to determine how many people will pay $100 or less per person per month for a silver plan," the report states.

In addition to the subsidized insurance, a total of half of all uninsured Americans could pay less than $100 for insurance beginning in January because of other expanded programs. About 41.3 million people don't have insurance now, according to HHS.

In the 25 states that have decided to expand Medicaid, 12.4 million uninsured Americans will be eligible to pay less than $100 a month, the report found. People in this group will pay either nothing or a small premium to participate in Medicaid.

If the rest of the states expanded Medicaid to coverage to those who earned below 138% of the poverty level, about one in four of the 41.3 million people without insurance would qualify for Medicaid, tax subsidies to help pay for insurance or the Children's Health Insurance Program, researchers found.

On Monday, Pennsylvania, announced it would expand Medicaid.

http://www.usatoday.com/story/news/politics/2013/09/17/100-dollar-premiums-exchanges/2822979/

Love how they keep saying its going to be so cheap and is so cheap now for so many but they never say what exactly these *cheap* plans cover and how its going to save the majority of those they want to sign up money. Now even $100 for me is way to much even as a younger middle aged male. I spend less then that on my own medical care a year on average and I only pay upfront out of pocket. So what benefit is their to me in this? Then of course if I do pay my $100 a month for a silver plan I'm looking at what, a $2k deductible maybe with big limitations on what kind of care it would cover?

So wheres the real benefit for the healthy people who live healthy lives? What do we get for handing over money?

Now I personally do think everyone should have health insurance but just NOT the kind of system we have now. Insurance is about paying in when its sunny and when its rainy it takes care of you but the current system doesn't do that and is really screwed up. It will never be fixed w/o starting from scratch. This is why I support a 100% universal healthcare system for Citizens ONLY. Rest can pay cash first or have private insurance... or not get care. However this means the vast majority of hospitals would be taken over by city/state/fed with having wages set by likely fed/state policy. You can only get universal healthcare at a city/state/fed hospital unless life emergency. Doctors to be licensed must do some work minimum say 10-15 hours a week at state/fed wages to maintain license.

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http://www.alipac.us/f19/affordable-...ign-up-288349/

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How affordable are Affordable Care Act premiums?

I believe the lowest Medicare fee is around $93.00 and up. We keep hearing Medicare is going broke, so how does the government expect to keep Obamacare from going broke?