The Affordable Care Act is making health insurance more affordable
Posted by AzBlueMeanie:
About 6.4 million Americans will be able to purchase insurance for less than $100 each month on Obamacare’s new state-level marketplaces, according to a new report from the Department of Health and Human Services, Think Progress reports. Under Obamacare, Millions Of Americans Will Pay Less Than $100 Per Month For Health Insurance:
The Obama administration calculated the expected premiums for people
buying “silver” plans, which are the second-cheapest option on the new
insurance marketplaces. Even though not every marketplace has announced
its premium rates yet, researchers were still able to estimate those
payments based on the health law’s rule for determining subsidies.
[See Subsidy Calculator | The Henry J. Kaiser Family Foundation.]
Americans who make up to 400 percent of the federal poverty level —
which works out to be $94,200 for a family of four — are eligible for
subsidies that ensure they’ll only pay a certain percentage of their
income for a health plan. Using census data on Americans’ income levels,
researchers were able to extrapolate how many of them would be paying
less than $100 for monthly premiums for silver plans.