Wide Range of Choices and Lower Than Expected Premiums are Announced for the Health Marketplace in Ohio

Statement

Enrollment begins October 1st for coverage that begins as early as January 1, 2014

The Department of Health and Human Services (HHS) announced today that increased competition will provide Ohio consumers with lower health insurance premiums than projected in the Health Marketplace. I'm pleased to share that Ohioans will be able to choose from an average of 46 health plans in the Marketplace. Plans are categorized as either "gold", "silver" or "bronze". Young adults also have an option to purchase a "catastrophic" plan, increasing their number of affordable choices. Today's report says the average premium for the lowest cost silver plan will be $304 and for the lowest cost bronze plan it will be $263. This compares favorably with the average premium nationally for the second lowest cost silver plan at $328.

As an example, a 27-year-old living in Ohio who makes $25,000 per year will pay $110 per month for the lowest cost bronze plan and $145 per month for the second lowest cost silver plan. A family of four in Ohio with an income of $50,000 per year would pay $156 per month for the lowest bronze plan. Taking into account tax credits, HHS says the 25 year old who makes $25,000 per year will pay $93 per month for the lowest cost bronze plan and $145 for the second lowest cost silver plan. The cost of the lowest rate bronze plan would cost only $94 for a family of four in Cleveland with an income of $50,000.

Small business owners gathered September 11th to learn more about the Affordable Care Act and providing health insurance coverage to their employees at a forum hosted by Congresswoman Fudge's office and the Small Business Administration.

Nationally, about 95% of currently uninsured people eligible for the Marketplace live in a state where their average premium is lower than projections. Nearly 100,000 people in the 11th Congressional District currently have no health insurance. Under the Affordable Care Act, the Health Marketplace offers new affordable choices for people of all ages. My office is commited to ensuring you receive accurate information about the law and the options available to all constituents. Please see the contact information below. You will be able to get information and learn more about the tax credits right away. The enrollment period officially begins on October 1st.

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