PharmacoEconomics & Outcomes News 688, p2 - 5 Oct 2013

Online market exchanges to bringlower-cost insurance to US

The start of the online Health Insurance Marketplaceson 1 October 2013 will offer plans with premiums thatare around 16% lower than initially expected, accordingto a report from the Department of Health and HumanServices (HHS).

The insurance marketplaces, which are a key part ofthe Affordable Care Act, will enable consumers tocompare prices of a range of private health plans. Planswill be grouped into "platinum", "gold", "silver" and"bronze" plans, according to the share of health coststhey cover.

The report – based on data submitted by 36 states aswell as information from 12 state-based market places –shows that around 95% of consumers will have a choiceof at least 2, and often many more, health insuranceissuers, and in states where the HHS is fully or partiallyrunning the marketplaces, there will be an average of 53qualified health plan choices available.

Tax credits will make premiums even more affordable,with the report highlighting that about 56% of theestimated 41 million uninsured Americans will be ableto get insurance with monthly premiums of ≤ $US100because of the available subsidies.Department of Health and Human Services. Health Insurance MarketplacePremiums for 2014. Internet Document : 25 Sep 2013. Available from: URL: http://aspe.hhs.gov 803093748

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PharmacoEconomics & Outcomes News 5 Oct 2013 No. 6881173-5503/13/0688-0001/$14.95 Adis © 2013 Springer International Publishing AG. All rights reserved