A report from the Department of Health and Human Services says new choices and more competition in the Health Insurance Marketplace under the Affordable Care Act has provided Louisiana consumers better options.
As The News-Star of Monroe reports, consumers in Louisiana can choose from six providers in the Marketplace in 2015, up from five in 2014. Louisiana consumers can also choose from an average of 44 health plans for 2015 coverage, up from 33 in 2014. Nearly eight in 10 current Marketplace consumers can find coverage in the 2015 Marketplace for $100 or less, taking into account any applicable tax credits, according to the report.
Monroe insurance agent Roanita Jenkins, a certified health care reform specialist through the Centers for Medicare and Medicaid, says new providers offering plans this year has created more competition and better rates for consumers.
“This is good. That’s what we want—that competition,” she says, adding, “but you really have to sit down and compare your plans and look at the pros and cons and pick the best one for you and your family. Most people can get a plan for less than what their penalty would be.”
To continue their health coverage in 2015, people must renew their current health plan or choose a new health plan through the Marketplace during the 2015 open enrollment period.
For those who do not have health coverage during 2015, they may have to pay a fee. The fee in 2015 is higher than it was in 2014—approximately 2% of their income or $325 per adult or $162.50 per child, whichever is more.
The report also says 88% of Louisiana consumers who selected a Marketplace plan in 2014 received financial assistance. More than seven in 10 current Marketplace enrollees can find a lower premium plan in the same level before tax credits, according to the DHH report. Read the full story.
