January 21, 2016
Eight in 10 Marketplace customers in HealthCare.gov states qualify for a tax credit with an average value of nearly $300 per month
According to a new report released today, more than 8 in 10 people (83 percent) who selected or were automatically enrolled in a 2016 plan through the Marketplace qualify for a tax credit with an average value of $294 per month, or about 72 percent of the pre-tax credit premium.
Moreover, HealthCare.gov users are actively shopping and saving money on their 2016 Health Insurance Marketplace plans. Sixty percent of people who actively reenrolled in a Marketplace plan for 2016 through HealthCare.gov switched to a different plan, saving an average of $43 per month ($516 per year) after tax credits.
“There are just 10 days left until the end of Open Enrollment for 2016 coverage and consumers should know that prices are affordable and it’s not too late to shop for the best plan,” said HHS Secretary Sylvia M. Burwell. “People coming to the Marketplace for coverage are active, engaged and shopping to save money.”
Today’s report looks at the 8.5 million individuals who selected or were automatically enrolled in a plan in the 38 states that use HealthCare.gov through December 26, 2015. The vast majority of reenrollments were completed by December 18, 2015.
Nearly 7 in 10 people who signed up through HealthCare.gov as of December 26 had the option of selecting a health insurance plan with a premium $75 per month or less after tax credits. Nearly 6 in 10 people had the option of selecting a health insurance plan with a premium $50 per month or less after tax credits. On average, people who are signed up for coverage through HealthCare.gov as of December 26, 2015 are paying $113 per month after tax credits.
To read today’s report, visit: https://aspe.hhs.gov/pdf-document/health-insurance-marketplaces-2016-average-premiums-after-advance-premium-tax-credits-38-states-using-healthcaregov-eligibility-and-enrollment-platform