Corpus Christi Health Insurance Looking Good for Low Income Residents

A Kaiser Study has found that Health Insurance rates in Corpus Christi for low income consumers may be falling to zero cost.

Corpus Christi, United States – October 31, 2017 /PressCable/ —

Corpus Christi health insurance may be obtained in Low-Income areas for taxpayer-subsidized “Obamacare” policies for free. This is according to a study by the Kaiser Family Foundation. The study runs counter to the perception of increases in costs for consumers under the Affordable Care Act. This could generate a flood of marketing campaigns by insurers as they try and sign up consumers between November 1st through December 15th.

The study found that in many counties throughout the nation, a hypothetical 40-year-old making $25,000/year can get a basic “Bronze” plan from the exchange for a monthly premium of zero. This is so because of the actions of the current administration that raised the cost of insurance, leading to higher federal spending for premium subsidies. “People shopping for health insurance who have a choice between paying the penalty or being uninsured or signing up for a free plan is an attractive proposition”, says John Thornton, a Health insurance Agent in Corpus Christi.

At the same time, premium prices for young adults are going up 37 percent on mid-range “Silver” plans according to a report released by Health and Human Services Department (HHS). HHS also published that insurer participation is down, with 29% of current ACA customers having just one carrier in 2018. HHS also noticed that subsidies for premiums are also rising by about 45% on average.

Overall, the administration has cut subsidies for cost sharing reductions. These are payments for out of pocket expenses such as deductibles, doctor’s office visits and prescription medications. This hurts people with modest incomes and who need health insurance in Corpus Christi.

At the same time, insurers have raised premiums for higher-level “Silver” and “Gold” plans, which are also subsidized. All plans on the exchange that receive cost sharing are designed around the second highest price Silver Plan. This in turn makes less expensive Bronze Plans more affordable, for subsidies may be used to buy any plan on the exchange. Think of pushing down on one end of a see-saw and the other end goes up. This is what is happening with the purchase of Bronze Plans with this side of the see-saw going down, while the “Silver” end goes up.

In Texas, for instance, roughly 80 percent of counties will have a zero-premium Bronze Plan in 2018. Currently more than a-quarter-million-current Obamacare enrollees in those counties have low incomes that could potentially qualify them for a no-cost plan. But no Texas counties had a no-cost plan in 2017. Because of other considerations, like age, not all of them will qualify for a no-cost plan – but many will.

The Kaiser study illustrates what’s happening under the hood as the complicated moving parts of the health care law’s different subsidies and coverage levels respond to actions by the administration. It will be interesting to see the results of the “Executive Orders” in January after open enrollment has ended.

Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.

Contact Info:
Name: Rick Thornton
Email: Send Email
Organization: Insurance4Dallas
Address: 14493 South Padre Island Drive Suite A #5017, Corpus Christi, Texas 78418, United States
Phone: +1-512-410-4535

For more information, please visit http://insurance4dallas.com/corpus-christi-health-insurance/

Source: PressCable

Release ID: 258282