With the insurance exchanges now open, consumers who don't have employee benefits will be able to obtain coverage affordably. Though some analyses have indicated that their out-of-pocket costs will be substantial, newly released numbers from Florida may suggest otherwise.
Across the Sunshine State the average premium for the "silver" plan – the second-most affordable coverage offering – is just over $300 a month, according to the U.S. Department of Health and Human Services. Meanwhile, the "bronze," which health officials say is the least expensive, runs an average of $257.
Kathleen Sebelius, secretary for the HHS, noted that these cost projections are lower than what was initially forecast, which is good news for Floridians.
"In the past, consumers were too often denied or priced out of quality health insurance options," said Sebelius. "But thanks to the Affordable Care Act, consumers can choose from a number of new coverage options at a price that is affordable."
Coverage costs may be even lower for individuals who are low income. As an example, for a 27-year-old earning an annual wage of $27,000, their monthly payment for a bronze plan would be $74 per month, while for a silver would be $145. The costs may differ slightly depending on where in the state people live. Individuals living in Fort Lauderdale will likely pay less than those who are in Jacksonville, Tampa and St. Petersburg.
Meanwhile, in California, regulators of the state's health insurance marketplace are touting the success of the exchange in the first few days of opening. From Oct. 1-5, Covered California received more than 59,00 calls and handled 43,600 applications. Of these, 16,300 were completed.
"It's just the beginning, but these numbers are truly exciting and encouraging," said Peter Lee, executive director of the Golden State's coverage exchange.
