Health Insurance Marketplace Premiums for 2014
A report released by the Department of Health and Human Services shows wide variations in state premium prices for basic coverage in the new Health Insurance Marketplace. According to the report, states with the lowest premiums have more insurance companies offering plans than states with the highest premiums, such as Wyoming and Alaska. The table below shows averages of the lowest cost silver and bronze premiums in each state, before tax credits. The three missing states, Massachusetts, Hawaii, and Kentucky, had not released premium information as of Sept. 16, 2013.
Published Sept. 25, 2013
1 – Premiums shown above are a weighted average of the lowest cost silver plan and the lowest cost bronze plan in each rating area within the 36 Supported State-based Marketplaces, State Partnership Marketplaces, and Federally-Facilitated Marketplaces as of September 18, 2013, as well as 12 State-based Marketplaces. The rating area weights are constructed based on county-level population under the age of 65. For State-based Marketplaces, premiums are a weighted average across all rating areas for California and New York, and are for the entire state in DC, Rhode Island, and Vermont. For the remaining states, premiums are for the following rating areas: Denver, Colorado; Bridgeport, Hartford, and New Haven, Connecticut; Baltimore, Maryland; Minneapolis and St. Paul, Minnesota; Las Vegas, Nevada; Portland, Oregon; Seattle, Washington. Age weighting for all states is based on expected age distribution in the Marketplaces, estimated by the RAND Corporation.
GRAPHIC: DAVE MERRILL / BLOOMBERG VISUAL DATA