One Week to Go: Government Finally Reveals Obamacare Premiums
Drawing on pricing data for approved insurance plans in 48 states, the federal government gave Americans the number they have been waiting to hear for months. The average premium an average American will pay will pay for a mid-tier, or second-cheapest, health insurance plan when the Obamacare health exchanges open for enrollment next week is $328, according to the Department of Health and Human Services, or HHS.
However, in certain states, where a significant portion of the population lives in rural areas, that figure could be much higher because it can be more expensive to deliver healthcare. In Mississippi, average premiums will cost $448 per month, premium costs in Alaska will amount to $474, and premiums will average $516 in Wyoming. The least expensive plans were reported in Minnesota, where premiums will cost an average of $192 per month, and Tennessee, with premiums averaging $245.
HHS said the average premium price was 16 percent lower than its original projections. The majority of the data was provided by the 36 states with federally-facilitated exchanges or exchanges run in a partnership with the federal government. ”We are excited to see that rates in the Marketplace are even lower than originally projected,” said department Secretary Kathleen Sebelius in the press release. ”In the past, consumers were too often denied or priced-out of quality health insurance options, but thanks to the Affordable Care Act consumers will be able to choose from a number of new coverage options at a price that is affordable.”