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Obamacare Insurance Exchanges Have 45 Cleveland Options

English: Barack Obama signing the Patient Prot...

English: Barack Obama signing the Patient Protection and Affordable Care Act at the White House (Photo credit: Wikipedia)

On October 1, the health insurance marketplaces set up under the Affordable Care Act will open for business, offering customers insurance at rates lower than expected when the law was passed.

In the Cleveland area, forty-five different health insurance plans will be available for purchase on October 1. Some will have premiums under $100 monthly after tax credits. Premiums nationwide will be around 16% lower nationwide than was expected.

“We are excited to see that rates in the Ohio marketplace are even lower than originally projected,” said HHS Secretary Kathleen Sebelius, adding that opening of the insurance exchanges would offer millions of Americans who could not previously buy insurance “the security and peace of mind that has eluded them for years.”

When the online marketplaces open on October 1, consumers will be able to compare the benefits offered by the different insurance plans and learn whether their income would qualify them for subsidies.

Plans available through the marketplaces will be classified as “gold,” “silver,” or “bronze,” depending on the share of costs they’d cover.

An HHS report indicated that premiums would vary among markets. States with the lowest premiums had more than twice the number of insurance companies offering plans than states with the highest premiums.

The lowest monthly premiums for a twenty-seven-year-old in the Cleveland area would be $152 for a bronze plan, $201 for a silver plan, $245 for a gold plan, and $121 for a plan that would cover care only in the event of a catastrophe.

After tax credits, a twenty-seven-year-old with an income of $25,000 would pay $93 monthly for the Cleveland-area’s bronze plan with the lowest premium, and a family of four with a $50,000 income would pay $94 for that coverage.

People can get more information on the www.healthcare.gov or cuidadodesalud.gov websites. They can also call 1-800-318-2596 toll-free to speak with trained customer service representatives, with translation services available in 150 languages.

Via Cleveland.com.

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One comment on “Obamacare Insurance Exchanges Have 45 Cleveland Options

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