From: HHS Intergovernmental and External Affairs Notification
June 18, 2014
From: Paul Dioguardi
Director, Office of Intergovernmental and External Affairs U.S. Department of Health and Human Services
RE: New report on premiums, competition and choice among health insurance plans in 2013-2014: Individuals shopping in the Marketplace had a wide range of quality, affordable health plans from which to choose.
The US Department of Health and Human Services (HHS) released a report today that finds that people who selected silver plans, the most popular plan type in the federal Marketplace, with tax credits paid an average premium of $69 per month. In the federal Marketplace, 69 percent of enrollees who selected Marketplace plans with tax credits had premiums of $100 a month or less, and 46 percent of $50 a month or less after tax credits.
Today’s report also looks at competition and choice nationwide among health insurance plans in 2013-2014, and finds that most individuals shopping in the Marketplace had a wide range of health plans from which to choose. On average, consumers could choose from five health insurers and 47 Marketplace plans.
According to today’s report, on average, monthly premiums for people who selected plans with tax credits fell 76 percent after tax credits, dropping the cost of the average monthly premium from $346 before tax credits to $82 after tax credits across all plan types. The Marketplace is also providing consumers more easily comparable, quality health plan choices than ever before. In 2014, there were a total of 266 issuers in the Marketplace by state, offering over 19,000 Marketplace plans across all ratings areas, excluding catastrophic plans.
Today’s report demonstrates that the new tax credits are working as intended to make premiums affordable, and the Marketplace is bringing much-needed competition to the insurance market.
You can read the press release and get more details on the findings from today’s report here
You can read the report in its entirety here
You can share findings from today’s report via Facebook or twitter by using the text below and the attached graphic:
@HHSMedia & @HHSGov Twitter
- New report shows premium affordability, competition & choice in Marketplace – shoppers paid $69 on avg for coverage pic.twitter.com/wBb8XGgjw5
HHS Facebook:
- Status: New reports shows how the Affordable Care Act is providing affordable coverage competition and choice in 2014: http://go.usa.gov/9CAH
Questions or Concerns? Contact HHSIEA@hhs.gov