[verbatim from Cover Mississippi]
Young adults in Metro Jackson, eligible for tax credits, may pay as little as $8 a month for a private health-insurance plans offered in the Mississippi Health Insurance Marketplace.
Today, the United States Department of Health and Human Services released the http://mhap.pmhclients.com/images/uploads/HHSMarketplacePremiums.pdf">proposed health plan choices and premiums (PDF) to be offered in the Marketplace following the start of open enrollment on Oct. 1.
The findings show that a 27-year-old living in Jackson may pay out of pocket only $8 a month for a bronze-level premium that covers all preventive services, most primary care visits, and limits out of pocket costs that may result from an accident or severe illness.
The statewide bronze-level premium average for the same age group is $75 a month. That means for the first time many young Mississippians will be able to afford a quality health plan for less than the costs of their smartphone bill.
Monthly Premium Average in Jackson, MS for a 27-Year-Old with an Income of $25,000: • Second Lowest Silver Plan After Tax Credit: $145 • Lowest Bronze Plan After Tax Credit: $8
Monthly Premium Average Across Mississippi for a 27-Year-Old with an Income of $25,000: • Second Lowest Silver Plan After Tax Credit: $145 • Lowest Bronze Plan After Tax Credit: $75
Monthly Premium Average Across Mississippi for a Family of Four with an Income of $50,000: • Second Lowest Silver Plan After Tax Credit: $282 • Lowest Bronze Plan After Tax Credit: $28
Starting Oct. 1, the Mississippi Health Insurance Marketplace will give Mississippians who are uninsured, or who buy their own coverage, a whole new way to shop for health plans. The number one concern for Mississippi families and individuals is whether the plans offered in the Marketplace will be affordable. Today's release shows that plans offered in the Marketplace are not only affordable but well below original government estimates.
For the first time in decades, hard working Mississippians can have quality, affordable health care that will provide them a measure of financial security from crushing medical costs.
To learn more, visit the http://www.coverms.org/">Cover Mississippi website, or call 601-353-0845.
Comments
js1976 10 years, 7 months ago
"Young adults in Metro Jackson, eligible for tax credits, may pay as little as $8 a month for a private health-insurance plans offered in the Mississippi Health Insurance Marketplace."
What about those not elgible for tax credits? The health insurance exchange rates for those that do not qualify for tax credits are going to be higher than current rates. Great for those with existing conditions, bad for everyone else that doesn't qualify.
"Regardless of age, shoppers on the state’s Federally Facilitated Marketplace will find health insurance premiums at least 100 percent above rates to which they have become accustomed.“
Mike Chaney, Commissioner Mississippi Business Journal August 6, 2013
NinetyWt 10 years, 7 months ago
Commissioner Chaney is saying that, if people are used to their employer picking up the tab, the new rates will be higher than that. I am self employed and my income is too high for me to qualify for a subsidy. The premiums for the Bronze plan are just about the same as premiums I'm paying now for private insurance. So there's not much change for those of us who have had to pay for private insurance all along. BUT. The good thing is, insurers now must include many things at no cost (such as a mammogram every few years).
js1976 10 years, 7 months ago
I'm also self employed insuring a family of five, and do not qualify for subsidy. There will be changes for us paying private insurance though. Many of the additional coverages will come a cost, including maternity, mental health coverage, dental, vision, etc. Wellness coverages such as mammograms were already on most of the major individual health plans.
js1976 10 years, 7 months ago
I also believe that if Chaney thinks he can draw more insurers to our exchange if the state were operating it, then I think the governor needs to do so. The states with the highest number of participants are showing the lowest rates.