Insurance Marketplaces’ Silver Plans Most Popular, $69 Average Premium
A new report from the Department of Health and Human Services (HHS) finds that people who selected silver plans, the most popular plan type in the federal Marketplace, with tax credits paid an average premium of $69 per month. In the federal Marketplace, 69 percent of enrollees who selected Marketplace plans with tax credits had premiums of $100 a month or less, and 46 percent had a premium of $50 a month or less after tax credits. The report also finds that most individuals shopping in the Marketplace had a wide range of health plans from which to choose. On average, consumers could choose from five health insurers and 47 Marketplace plans.
Monthly premiums for people who selected plans with tax credits fell 76 percent after tax credits, dropping the cost of the average monthly premium from $346 before tax credits to $82 after tax credits across all plan types.