Park City, Utah (PRWEB) September 16, 2013
Today, Zane Benefits, the number one online small business health benefits solution, published new information on health insurance exchange rates in 2014.
According to Zane Benefits’ website, with the health insurance exchanges opening in a couple of weeks, everyone has a close eye on the individual and small group premium rates offered through the exchanges. Avalere recently released an analysis of premium exchange rates.
The survey compares the rates for a 40-year-old, non-smoker by state. For each state, the minimum, average, and maximum rate are displayed.
The average minimum monthly premium is $261. An estimated 80% of exchange enrollees will qualify for premium subsidies, which will further reduce cost.
Some states have wide ranges in premiums, specifically the states with many providers and different ratings for different geographic regions.
The survey also analyzed premiums by age throughout the different states. The ACA law limits the range of a premium based on age to no more than a 3:1 ratio. Of the 12 states analyzed, the average premiums for ages 21, 40, and 60 are $271, $327, and $615, respectively.
The ACA requires that plans meet one of four actuarial values determining the percentage of medical costs the plan will cover. Bronze plans will cover 60% of the costs, Silver 70%, Gold 80%, and Platinum 90%.
The survey recorded the prices for the different levels across all of the states. The average monthly premiums for Bronze, Silver, Gold, and Platinum plans are $274, $336, $315, and $483, respectively.
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