ACA Bronze Coverage for $8 a Month

[Brian Anderson]

According to a report released today from the Department of Health and Human Services, a 27-year-old woman with an income of $25,000 living in Jackson, Miss., could apply a $191 per month tax credit to the lowest-cost bronze plan in Jackson, priced at $199 per month, and end up paying just $8 per month for Marketplace coverage.
The report also says taxpayers are subsidizing, on average, 76% of the monthly premium cost for people who have signed up for coverage under Obamacare.
This is a much higher percentage than I would have guessed. Anybody else?

 

[kgmom219]

I think it sounds right for 2014. The people on the Exchange right now are low income, not middle class.

I'm guessing the percentage will go down in subsequent years, as ACA becomes more accepted and small groups drop current coverage, sending their employees to the marketplace. More and more middle class families will be signing up for subsidies. They will get a smaller percentage.

Of course, all of this depends on the midterms, the next presidential election and whether or not the moon is made out of green cheese. We may have a whole new ballgame for 2016 OEP.

 

[Brian Anderson]

Another thing in this report said people in Mississippi pay the least for coverage (of the 36 states using the Federal Marketplace) when you factor in tax credits – just $23 per month on average premiums of $438. People in New Jersey pay the most - $148 per month on average premiums of $465.

Seems a little strange, but premiums in Wyoming average $536/mo (highest among the 36) while it’s only $243/mo (lowest) in neighboring Utah.

 

[Yagents]

Not odd at all if u understand aptc and second lowest cost silver plan relationship

 

[Josh]

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According to a report released today from the Department of Health and Human Services, a 27-year-old woman with an income of $25,000 living in Jackson, Miss., could apply a $191 per month tax credit to the lowest-cost bronze plan in Jackson, priced at $199 per month, and end up paying just $8 per month for Marketplace coverage.
The report also says taxpayers are subsidizing, on average, 76% of the monthly premium cost for people who have signed up for coverage under Obamacare.
This is a much higher percentage than I would have guessed. Anybody else?

Is there a total dollar amount for the monthly subsidies? I have an exchange plan (not subsidized) and it's a few bucks cheaper than what I would have been paying, but by the time you add how much of my tax dollars are going to these subsidies I'm sure Obamacare is costing tax payers a fortune.

 

[taterpeeler]

I know that josh... Why? I have been doing this for 21 years and I got guys working here acting like they know what's happening. Sorry, I guess I'm in a bad mood because I am on the front lines dealing with this crap daily

 

[Stephen]

He's works for Sam as the Executive Editor. ----------

Someone has to oversee the army
Of insurance forum
Junior editors.

 

[LGilmore]

Is the amount subsidized surprising? No not really. The only way to get this to work was to make it a give away for all intent. At some point there may be an adjustment, but I don't think so.

 

[DS4]

I have been doing this for 21 years.....

Only 21 years? I thought you had experience.
I'll have to apply a credibility factor when I read your posts from now on.

 

[GreenSky]

Only 21 years? I thought you had experience.
I'll have to apply a credibility factor when I read your posts from now on.

Leave him alone. He's sold a Plan N.

Unfortunately it was to someone without Medicare but at least he's willing to make recommendations.

Rick