Amy, of Harrisville, New Hampshire, has signed up for a “Silver” level policy from HealthCare.gov and is seeing what she calls a “huge savings” compared to the premiums she had been paying in recent years. Amy had help with the sign-up process from the same insurance agent she had been using all along. With an annual income between $20,000 and $25,000, and at age 53, she had been paying $413 a month for an individual policy through Anthem. In addition to that monthly expense, she had an annual $5,000 deductible, meaning she paid out of pocket up to that amount in health care expenses. With her income Amy was eligible for a significant subsidy under the Affordable Care Act. Since the turn of the year, her monthly premium cost has been $75 and, with a lower deductible, she only faces a potential of $1,500 in uncovered expenses for the year. If she has more than that, her costs will be covered 100 percent. She now has an “extra” $338 a month available toward other living expenses.
Posted on: Thu, 20 Mar 2014 13:00:00 +0000