Second Study Promises Obamacare Savings in S.C.
Friday, September 27, 2013 at 5:15AM Premiums for insurance plans purchased through South Carolina’s new health care marketplace will be higher than the national average but lower than some 2011 prices, according to data in a new federal report.
People without health insurance can start shopping Tuesday in the online marketplaces. South Carolina’s exchange is being run by the federal government.
Nationally, the average premium for a middle-of-the-road plan purchased through a health care exchange will be $328 a month, according to the report from the Department of Health and Human Services. In South Carolina, it will be $339.
But compared with premiums in South Carolina in 2011, it appears the marketplace will offer some lower price tags when income-based subsidies are included.
The exchanges, created under the 2010 Affordable Care Act, will allow consumers to choose from four levels of coverage, starting with bronze and moving upward to silver, gold and platinum. Catastrophic coverage will be available for people younger than 30.
The state-based marketplaces are meant to provide affordable insurance options for people who don’t already get coverage from an employer or the government.
In South Carolina, a family of four earning $50,000 will be able to buy a silver-level plan through the state’s exchange for $282, after the subsidy is applied. Gold level plans would be higher. Bronze level plans would be lower. Without the subsidy, the cost for a silver-level plan would be $809.
In 2011, the average monthly premium for a family in South Carolina in 2011 was $1,271, according to a 2012 report from the Commonwealth Fund.
“We are excited to see that rates in the South Carolina marketplace are even lower than originally projected,” HHS Secretary Kathleen Sebelius said in a statement.
“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 South Carolina, there were about 665,000 people without health insurance in 2012, according to Census Bureau data.
Reader Comments (1)
Just checked the exchanges and if you make less than 15k per year, the Bronze plan is fully subsdized in SC. However, with a $5000 deductible + 40% co-pay, you still can't afford to go to the doctor. Obamacare doesn't really help those who can't afford insurance. All it does is transfer money from the U.S. Treasury directly into the coffers of the Insurance companies, the same companies who were instrumental in writing the law.
It's a big scam folks!