February 9, 2015
Almost 6.5 million consumers qualify for an average tax credit of $268 per month through the Health Insurance Marketplaces
The U.S. Department of Health and Human Services released today a report outlining the impact of advanced premium tax credits on premiums in the Health Insurance Marketplaces. Almost 6.5 million individuals in the 37 states using the HealthCare.gov platform are estimated to qualify for an average of $268 per person/month in advanced premium tax credits. Among consumers who are signed up for 2015 coverage to date in the 37 HealthCare.gov states, 8 in 10 could choose a plan with a premium of $100 or less after tax credits, based on available options.
These figures underscore the impact of the Affordable Care Act in delivering quality, affordable health care coverage to millions of Americans. With only six days left until the Feb. 15 deadline to sign up for coverage through the Marketplaces, HHS encourages consumers to check out their options for a quality, affordable health care plan. The vast majority – 87 percent – of individuals who are signed up through HealthCare.gov qualify for financial assistance.
“With just six days left before the February 15 deadline and the end of this year’s Open Enrollment, millions of Americans already are counting on the financial assistance the Affordable Care Act provides to put quality, affordable health insurance coverage within reach,” HHS Secretary Sylvia M. Burwell said. “Consumers who sign up in states using HealthCare.gov are saving $268 a month on their premiums on average, and nearly 8 in 10 could select a plan with a premium of $100 or less with tax credits. This is further proof that the Affordable Care Act is working for the middle class.
According to today’s report, on average, premium tax credits reduced consumers’ monthly premiums by 72 percent. The average monthly premium for 2015 coverage dropped from $374 before tax credits to $105 after tax credits, among 6.5 million consumers in the 37 state using the HealthCare.gov platform who selected a plan with tax credits. Today’s report also includes state-by-state figures. This analysis includes plan selections from Nov. 15 through Jan. 30: depending on the characteristics of people who sign up prior to Feb. 15, the statistics in this report could change.
As we near the Feb. 15 deadline and end of Open Enrollment, officials from HHS are available for print, radio and television interviews. Satellite TV interviews are also available.
To request an interview with an official from HHS, email firstname.lastname@example.org.
Sign up by Feb. 15 - Help is available:
We are working to meet consumers where they are, whether that is online, over the phone or in person.
- Online: Information is available at HealthCare.gov or CuidadoDeSalud.gov.
- By Phone: Marketplace call center representatives are available to help all day, every day at 1-800-318-2596. TTY users should call 1-855-889-4325. Assistance is available in more than 200 languages. The call is free.
- In person: Consumers can find local help at by visiting: Localhelp.healthcare.gov
About the Health Insurance Marketplaces:
Open Enrollment for the Health Insurance Marketplaces for 2015 runs from Nov. 15, 2014 through Feb. 15, 2015. If people miss the Feb. 15 deadline, they will likely have to wait to sign up for coverage until the next open enrollment season, with coverage starting in 2016. Consumers should visit HealthCare.gov to review and compare health plan options and find out if they are eligible for financial assistance, which can help pay monthly premiums and reduce out-of-pocket costs when receiving services.
To read today’s report visit: http://aspe.hhs.gov/health/reports/2015/MarketPlaceEnrollment/APTC/ib_APTC.pdf