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Thu July 17, 2014
kynect Premium Numbers Are In and They're Close to Federal Counterparts
Kentucky’s health benefits marketplace customers’ average premiums are slightly higher than the national average.
Across all plans, kynect users paid an average $88.40 monthly premium after tax credit reductions. According to a U.S. Department of Health and Human Services report, federal marketplace users paid an $82 average monthly premium after reductions.
Those who purchased kynect’s most popular plan – the Silver level– paid on average a $65.61 monthly premium, after a 79 percent tax credit reduction. The comparable federal plan's users paid a premium of $69 after an 80 percent reduction.
"Due to the ability to qualify for tax credits, the price of any given plan can vary considerably depending upon the individual's income," said Kentucky Cabinet for Health and Family Services spokeswoman Gwenda Bond, via email. "County of residence, smoking status and age are also factors in calculating premium amounts."
More than $413,000 Kentuckians have enrolled in kynect, the vast majority qualifying for expanded Medicaid coverage.
Shots - Health News