Majority Pay $100 or Less a Month through the ACA

The majority of Americans who selected a Marketplace insurance plan are paying premiums of $100 or less a month after tax credits, according to a new report from the Department of Health and Human Services (HHS).

The most popular plan in the federal Marketplace was the silver plan, and on average premiums for it were $69 a month after tax credits. Those who chose the silver plan tended to select those with lower premiums: 65% chose the lowest or second-lowest cost silver plan.

Overall, 69% of enrollees who use tax credits are paying premiums of $100 or less a month, and 46% are paying $50 a month or less.

“Consumers have more choices, and they’re paying less for their premiums,” Health and Human Services Secretary Sylvia Burwell said in a statement. “Nearly 7 in 10 consumers who signed up for Marketplace coverage are paying $100 or less for that coverage. When there is choice and competition, everybody benefits.”

People using tax credits saw their premium costs drop 76%, according to the report, from an average monthly premium of $346 before credits to $82 after across all plan types.

According to HHS, there were over 19,000 Marketplace plans, excluding catastrophic plans, and 96% of people eligible lived in an area with 2 to 11 insurers to choose from. On average, though, consumers chose from 5 plan issuers and 47 Marketplace plans across all plan levels.