A
new report released today by the Department of Health and Human
Services (HHS) finds that in Arizona, consumers will see increased
competition in the Health Insurance
Marketplace, leading to new and affordable choices for consumers.
According to the report, Arizona consumers will be able to choose from
an average of 106 health plans in the Marketplace. Nationally, the vast
majority of consumers will have a choice of at
least 2 different health insurance companies - usually more. Premiums
nationwide will also be around 16 percent lower than originally expected
– with about 95 percent of eligible uninsured live in states with lower
than expected premiums – before taking into
account financial assistance.
“We
are excited to see that rates in the Arizona Marketplace are even lower
than originally projected,” said Secretary Sebelius. “In the past,
consumers were too often
denied or priced-out of quality health insurance options, but thanks to
the Affordable Care Act consumers will be able to choose from a number
of new coverage options at a price that is affordable.”
In less than a week, the new Marketplace will be open for business where millions of
Americans
will be able to shop for and purchase health insurance coverage in one
place. Consumers will be able to find out whether they qualify for
premium assistance and compare plans
side-by-side based on pricing, quality and benefits. No one can be
denied coverage because of a preexisting condition. October 1
marks the beginning of a six-month long open enrollment period that
runs through March 2014. Coverage begins as early as January
1, or in as little as 100 days from today.
Today’s
report (see attachment) finds that individuals in Arizona will have an
average of 106 qualified health plan choices. Plans in the Marketplace
will be categorized
as either “gold,” “silver,” or “bronze.” Young adults will also have
the option of purchasing a “catastrophic” plan, increasing their number
of choices.
In
Arizona, the average premium for the lowest-cost silver plan will be
$248 and for the lowest cost bronze plan it will be $214. The average
premium nationally for the
second lowest cost silver plan will be $328 before tax credits, or 16
percent below projections based off of Congressional Budget Office
estimates. About 95 percent of uninsured people eligible for the
Marketplace live in a state where their average premium
is lower than projections. And states with the lowest premiums have
more than twice the number of insurance companies offering plans than
states with the highest premiums.
Premium
and plan options are broken down by state where information is
available. For example, the report shows that a 27-year old living in
Arizona who makes $25,000
per year will pay $120 per month for the lowest cost bronze plan and
$145 per month for the second lowest cost silver plan, taking into
account tax credits. For a family of four in Arizona with an income of
$50,000 per year, the lowest bronze plan would cost
only $192 per month.
In
Phoenix, a 27-year old who makes $25,000 per year will pay $123 per
month for the lowest cost bronze plan and $145 per month for the second
lowest cost silver plan,
taking into account tax credits. For a family of four in Phoenix with
an income of $50,000 per year, the lowest bronze plan would cost only
$202 per month. And Phoenix consumers will be able to choose from among
111 qualified health plans.
The
majority (around 6 out of 10) of the individuals who are uninsured
today will be able to find coverage for $100 or less per month in the
Marketplace taking into account
premium tax credits and Medicaid coverage.
Consumers can get help finding Marketplace coverage through a number of
different resources. They can get more information through HealthCare.gov, or cuidadodesalud.gov.
They can participate in an online web chat, or call 1-800-318-2596 toll free (TTY: 1-855-889-4325)
to speak with a trained customer service representative with
translation services available in 150 languages. There will also be
people in local communities
who can provide in-person help with coverage choices. Those will
include Navigators and other assisters, community health centers across
the country, local libraries, and hundreds of Champions for Coverage
that have signed up to help consumers learn about
their options.
To become a Champion for Coverage, visit:
http://marketplace.cms.gov/help-us/champion.html