With the clock ticking to open enrollment next week for those who need to buy health insurance, the Obama Administration today released detailed figures on how much it will cost to buy insurance in the new Obama health law exchanges.
"Premiums before tax credits will be more than 16 percent lower than projected," trumpeted a report from the Health and Human Services Department, which included mountains of data on how much it will cost to buy a Bronze, Silver or Gold insurance plan.
The plan also details the cost for the option of a "catastrophic" plan aimed at young adults, which would give them coverage for "prevention, some primary care, and high costs in cases of major accident or illness."
One important reminder - this is for the exchanges, which are intended for those who do not have health insurance through their jobs, or need to buy it to comply with the new Obama health law.
The following figures do not apply to consumers who already get insurance through their jobs, the most common method of coverage for Americans.
The cost figures depend upon a variety of factors - how old you are, how much money you make, and whether you are single or have kids.
Here are some examples:
+ In Atlanta, Georgia, a 27 year old could pay as little $166 a month for the Bronze plan, up to $214 a month for the lowest Gold plan. A family of four that makes $50,000 a year could get the Silver plan for $744 each month.
+ In Orlando, Florida, a 27 year old could pay $182 a month for the Bronze plan, while the Gold plan could go for $238 at the low end. A family of four making $50,000 a year could get the Silver plan for $816 each month.
+ In Jacksonville, Florida, a 27 year old could pay as little as $137 a month for the Bronze plan, and as little as $202 a month for the Gold plan. A family of four making $50,000 a year could get the Silver plan for $760 each month.
Here is a list of the "average" weighted cost for each plan from HHS; again, this would change depending on your age, and where you live and how much income you earn each year. Much more can be found on the HHS website at http://aspe.hhs.gov/health/reports/2013/MarketplacePremiums/ib_marketplace_premiums.cfm:
With the clock ticking to open enrollment next week for those who need to buy health insurance, the Obama Administration today released detailed figures on how much it will cost to buy insurance in the new Obama health law exchanges. "Premiums before tax credits will be more than 16 percent ...
