Millions of Americans Will Pay Under $100 Monthly for Obamacare Coverage
According to a report from the US Department of Health and Human Services released today, about 6.4 million Americans will be able to buy health insurance for $100 or less per month using the Affordable Care Act's Health Insurance Marketplace.
Starting on October 1, people will be able to shop for coverage and compare their options side by side through their state's Health Insurance Marketplace. The marketplace makes it easier for people to compare prices, quality, and benefits of different plans, and to see if they qualify for tax credits or Medicaid.
About 56 percent of currently uninsured individuals may qualify for Medicaid, the Children's Health Insurance Program, or tax credits to purchase coverage for $100 or less per month. The report also shows that if all 50 states expand Medicaid, then up to 78 percent of currently uninsured people could qualify. Only 25 states have decided to take advantage of the Affordable Care Act provision that gives states full federal funding to expand their Medicaid programs to cover people who make up to 133 percent of the federal poverty level.
HHS Secretary Kathleen Sebelius said, "The health care law is making health insurance more affordable. With more than half of all uninsured Americans able to get coverage at $100 or less, the health care law is delivering the quality, affordable coverage people are looking for."
Coverage purchased through the marketplace will begin on January 1, 2014.
Media Resources: Think Progress 9/17/2013; Department of Health and Human Services 9/17/2013