Americans can expect to pay an average of $328 a month for a mid-tier Obamacare insurance plan.
The price of these plans can be lowered through tax credits, which work as an upfront discount. A report by the Health and Human Services estimates that 95% of consumers will have at least two health insurance providers to chose from. There are four levels of insurance coverage: bronze, silver, gold and platinum. The different levels each cover a percentage of expected cost, ranging from 60% to 90% depending on the plan. The average doesn’t mean that’s what everyone will pay. Factors such as location, family size, age and the type of plan chosen can all affect the price of insurance. An individual in Minnesota will pay an average of $192 a month for a silver plan, but an individual in Wyoming will pay an average of $516 for the same plan, reports the Associated Press.
Health insurers including UnitedHealth (UNH), Aetna (AET), WellPoint (WLP) and Humana (HUM) will all sell plans on some of the exchanges. Molina Healthcare (MOH), which focuses on Medicaid, will also have a part to play in the exchanges, reports Reuters.
The opinions contained in this column are solely those of the writer.
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