Average ACA premium price increases to $408 per month

For plans under the Affordable Care Act this year, the average premium cost increased to $408 per month — a 9 percent increase since this time last year, according to The Hill.

Advertisement

The finding is from the Department of Health and Human Services’ new report.

Although the premium price has increased, 83 percent of enrollees have tax credits and only pay a portion of the $408. The average tax credit is $294 — an increase of $26 since last year. Thus, enrollees only pay an average of $113. At this time last year, enrollees with tax credits paid an average of $105 per month for premiums, according to The Hill.

The report also showed premium increases were as high as 40 percent in some states. It did not highlight information on average deductible prices.

More articles on payer issues:
Abortion coverage limited in most state ACA marketplaces: 5 things to know
Land of Lincoln co-op, University of Chicago Medical Center disaffiliate
Health insurers in the news: Jan. 14-21

At the Becker's 5th Annual Fall Payer Issues Roundtable, taking place November 2–3 in Chicago, payer executives and healthcare leaders will come together to discuss value-based care, regulatory changes, cost management strategies and innovations shaping the future of payer-provider collaboration. Apply for complimentary registration now.

Advertisement

Next Up in Payer

Advertisement

Comments are closed.