Facebook Twitter LinkedIn Google Plus RSS

Government touts $309/month average savings for Jerseyans who get Obamacare subsidies

By ,
()

The Feb. 15 deadline to sign up for subsidized health insurance online at HealthCare.gov under the Affordable Care Act is looming Sunday. Meanwhile, the government announced Monday that, so far, 83 percent of the New Jerseyans who have purchased a 2015 plan qualified for an average $309 a month per person in subsidies to defray the cost of coverage.

The Department of Health and Human Services previously announced that, through Jan. 30, 216,425 New Jerseyans had signed up for 2015 coverage, well above the nearly 160,000 who signed up in 2014, the first year of the “Obamacare” HealthCare.gov exchange.

On Monday, HHS said that on average, the tax credits reduced New Jersey consumers’ monthly premiums 64 percent.

Nationwide, among all consumers who are signed up for 2015 coverage to date in the 37 states using the federal insurance exchange, 80 percent found a plan with a premium of $100 or less after tax credits, according to HHS.

“With just six days left before the Feb. 15 deadline and the end of this year’s open enrollment, millions of Americans already are counting on the financial assistance the Affordable Care Act provides to put quality, affordable health insurance coverage within reach,” HHS Secretary Sylvia M. Burwell said. “Consumers who sign up in New Jersey are saving $309 a month on their premiums, on average.”

In New Jersey, five health insurance companies are selling coverage at HealthCare.gov: Horizon Blue Cross Blue Shield of New Jersey, AmeriHealth New Jersey, Health Republic Insurance of New Jersey, UnitedHealthcare and Oscar Insurance.

Among the 6.5 million consumers in the 37 states using the HealthCare.gov platform who selected a plan with advanced premium tax credits, the average monthly premium for 2015 coverage dropped from $374 before tax credits to $105 after tax credits.

ALSO ON NJBIZ:

Aetna begins telling customers it may no longer be in network at Barnabas

Editorial: Hospital system mergers make a lot of sense

Coming to terms: The New Jersey Energy Resilience Bank making it easier to get Sandy loans

More From This Industry

Write to the Editorial Department at editorial@njbiz.com

Leave a Comment

test

Please note: All comments will be reviewed and may take up to 24 hours to appear on the site.

Post Comment
View Comment Policy

Comments

close