While the fate of the Affordable Care Act remains uncertain, there may be some unexpected benefits for middle income individuals and families in the marketplace. Harold Weber is the Outreach Coordinator and a Health Plan Navigator at Athens Neighborhood Health Center. He says for some, a fluke means premiums for 2018 are about half of what they were last year and deductibles are 1/6th the cost.
“In Athens, GA, a family of four making $65,000 a year would be able to purchase a gold plan for $567 a month with a $1000 deductible. The entire unsubsidized premium for that plan is $1,433. The subsidies are just much higher this year than they were last year,” says Weber.
Weber says the Trump administration’s decision to stop paying subsidies to cover out-of-pocket costs has unexpectedly led to higher premium tax credits for all plans. He says there are some bronze plans with zero premiums. Those rates are good through 2018.
“Insurance companies are now on the hook for covering that,” Weber explains. "By law they’re required to provide those benefits to low-income members of the marketplace.”
Weber says the situation is complicated and he recommends middle income individuals make an appointment with an insurance broker, agent or navigator and get a quote.
“Consumers I think are more confused now, than when we started,” says Weber.
Open enrollment begins today, November 1st, and ends December 15th.
