About 6.4 million Americans eligible to buy insurance through the new health exchanges will pay $100 or less a month in premiums because of tax subsidies, according to a Department of Health and Human Services report released this week.
The report shows that 56 percent, or nearly six in ten of the people who don’t have health insurance today may be able to get coverage through the Health Insurance Marketplace for less than $100 per month.
Beginning on October 1, individuals and families will have a new way to shop for coverage through the Health Insurance Marketplace. They’ll be able to compare their options using side-by-side information about price, quality and benefits. With one application they’ll be able to see if they qualify for premium tax credits or Medicaid that lower the costs of coverage right away.
Coverage through the Marketplace starts as early as January 1, 2014.
“The health care law is making health insurance more affordable,” said HHS Secretary Kathleen Sebelius. “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.”