Wednesday, September 25, 2013

Obamacare rates in Mich. lower than expected






The uninsured in the Detroit area will have 50 plans from which to choose, some with monthly premiums of less than $100, on the Michigan health care exchange – the online marketplace that opens on Tuesday.
According to figures released at midnight by the U.S. Department of Health and Human Services, the rates on the Michigan exchange, offered by 13 competing insurance companies, are below the national average.

For example, a 27-year-old with a $25,000 annual income would pay $89 a month for the bronze (lowest-cost) plan. That price includes the tax credits offered under the Affordable Care Act, also known as Obamacare.
A family of four with a $50,000 income would pay – after the tax credits – a monthly premium of $282.

“We are not surprised by these rates,” said Don Hazaert, director of Michigan Consumers for Healthcare. “We … were expecting the competition to produce low rates.”

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