Covered CA Health Insurance Exchange – Individual Plan Rates
According to Covered California, the statewide average for a Silver-rated plan will be $321 (before applicable federal subsidies). All plans will be offered by levels of coverage: Bronze (plan pays 60%), Silver (plan pays 70%), Gold (plan pays 80%) and Platinum (play pays 90%).
Additionally, eligible individuals purchasing plans through the California Health Insurance Exchange will be able to apply federal tax credits. The tax credits will lower the cost of the premium and will be applied at the time of purchase. The tax credits are based on income and family composition.
Covered California provides detailed rate breakdowns by age and region. Statewide averages, including the federal subsidies, are:
For a single 21-year old making $34,470/year (300% FPL): The most affordable Catastrophic plan will cost $136/month. The most affordable Silver plan will cost $216/month.
For a single 40-year old making $34,470/year (300% FPL): The most affordable Bronze plan will cost $185/month. The most affordable Silver plan will cost $242.
The health plans are subject to a rate review and rates will be finalized before the Exchange opens on October 1, 2013.