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Just Released
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4.2 Million Uninsured People Could Get a Bronze Plan in the ACA
Marketplace with $0 Premiums After Tax Credits
But
High Deductibles Mean Consumers Might Be Better Off Paying More in Premiums
for a Silver Plan That Offers Cost-Sharing Help
As the Affordable Care Act’s open enrollment
period nears an end in most areas this week, a new analysis from KFF (the Kaiser Family Foundation)
finds that 4.2 million currently uninsured people could get a bronze-level
plan for 2019 and pay nothing in premiums after factoring in tax credits.
That works out to 27 percent of the 15.9 million
uninsured individuals who could shop in the ACA marketplaces. In some states
the share with access to a free bronze plan is far higher, including:
Delaware (49%), Nebraska (49%), Iowa (48%), Utah (46%), Alaska (42%),
Oklahoma (42%), Wisconsin (42%), Wyoming (41%), and Idaho (40%).
Looked at another way, over half (52%) of the
uninsured who could get a free bronze plan live in four states: Texas
(1,010,428 people), Florida (623,434), North Carolina (296,892) and Georgia
(254,296). The analysis has detailed data on the number and share of the
uninsured in each state who have access to a free bronze plan.
However, with bronze
deductibles averaging $6,258 a year, getting a $0 premium bronze plan isn’t
quite the no-brainer for the uninsured that it initially may seem. Many
people eligible for a free bronze plan would also be eligible for significant
cost-sharing assistance under the ACA by purchasing a silver plan instead.
Silver plans may provide more financial protection, including lower
deductibles, for those who get sick and use medical services.
The availability of $0 premium bronze plans arises
from insurers’ practice of “silver loading”, the increasing of silver plan
premiums in response to the Trump administration's termination of
cost-sharing payments to insurers in late 2017. That triggered higher ACA
premium tax credits for consumers (since they are calculated using the
second-lowest cost silver plan as a benchmark) and, in turn, made bronze
plans more likely to be available for $0 in premiums.
Also available is KFF’s Health Insurance Marketplace Calculator, which allows
users to enter their income, age, and family size and get estimates of
premiums and available subsidies for insurance purchased on the ACA
exchanges. We also have a searchable online archive of 300 frequently asked questions about the ACA and the
health insurance Marketplace.
Filling
the need for trusted information on national health issues,
the Kaiser Family Foundation is a nonprofit organization based in San
Francisco, California.
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Tuesday, December 11, 2018
4.2 Million Uninsured People Could Get a Bronze Plan in the ACA Marketplace with $0 Premiums After Tax Credits
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