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Wednesday, September 25, 2013

What Insurance Premiums Will Cost Under Obamacare

Health and Human Services Secretary Kathleen Sebelius testifies on Capitol Hill in Washington, April 12, 2013. (J. Scott Applewhite/AP)

Department of Health and Human Services Secretary Kathleen Sebelius says “six in 10 Americans who currently lack insurance will be able to find coverage that costs less than $100 a month” in health insurance exchanges set to open next week. Here, Sebelius is shown testifying on Capitol Hill in April. (J. Scott Applewhite/AP)

Starting next week, individuals seeking to buy health insurance as mandated by the Affordable Care Act will be able to check out and sign up for private health insurance plans offered by federally-run health care exchanges in 36 states.

Today the Obama administration unveiled the costs of the premiums that people will pay for the health plans. Costs will vary widely from state to state.

In general, younger, healthier buyers will pay more than they do currently for health insurance while older, less healthy people will pay less.

The average individual premium for the second-cheapest plan, which is called the “silver plan” in these exchanges, ranges from a low of $192 per month in Minnesota to a high of $516 in Wyoming.

Guest

  • Larry Levitt, senior vice president at the Kaiser Family Foundation.

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