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Report: Some Paying Less than $50 Per Month For ACA Health Insurance

PHOTO: Some Americans are paying less than $50 per month for health insurance through the Affordable Care Act, also known as Obamacare, according to a new report from the U.S. Department of Health and Human Services. Photo courtesy of the White House.
PHOTO: Some Americans are paying less than $50 per month for health insurance through the Affordable Care Act, also known as Obamacare, according to a new report from the U.S. Department of Health and Human Services. Photo courtesy of the White House.
June 23, 2014

SALT LAKE CITY – Utahns may be interested in a report from the U.S. Department of Health and Human Services showing that some Americans are paying less than $50 per month for health coverage through the Affordable Care Act (ACA).

The report says people eligible for tax credits who selected silver plans, the most popular type available through healthcare.gov, paid an average premium of $69 per month.

It also shows that nearly half of those with tax credits paid premiums of $50 a month or less.

Jason Stevenson is education and communications director at the Utah Health Policy Project, which helps people enroll in the ACA.

"Utah has even better results because we have six plans on our marketplace here in Utah, and we have some of the lowest rates in the country," he points out.

The HHS report concludes that competition among insurance companies is helping to keep premiums down.

It shows that during the first year of the ACA, consumers on average could choose from five health insurers and 47 plans.

Stevenson says the simple fact that multiple insurance companies are competing for millions of new customers is benefiting Americans.

"Having all of those plans actually drove down the prices because insurance companies were suddenly competing for the business of consumers," he maintains.

According to HHS, more than 8 million Americans have selected an insurance plan available through the Affordable Care Act.

Stevenson says more than 84,000 Utahns enrolled in the ACA during the first open-enrollment period.

The next open enrollment period starts November 15.

Troy Wilde, Public News Service - UT