(WASHINGTON) – Today, the Department of Health and Human Services (HHS) released a report demonstrating how, under the Affordable Care Act, increased competition in the federal Health Insurance Marketplace will lead to increased competition and lower health insurance premiums across the country. Specifically, the report details how premiums will be 16 percent lower than originally projected, and that the average consumer will have 53 different healthcare plans available for purchase on the Health Insurance Marketplace. Following the release of this report, Congressman John Conyers, Jr. (D-Mich.) issued the following statement:
|U.S. Representative||John Conyers, Jr.|
“I am delighted to see that a new report from the Department of Health and Human Services has clearly demonstrated how the Affordable Care Act is working to increase healthcare marketplace competition which means lower premiums and increased choice for residents of metropolitan Detroit and consumers across the country,” said Conyers.
“Prior to the implementation of the Affordable Care Act, millions of Americans were unable to afford health insurance, or were outright denied coverage, typically due to a pre-existing condition. However, beginning January 1st of next year, near-universal health insurance will be extended to all. In addition, due to robust competition spurred on by provisions of the Affordable Care Act, a variety of low-cost plans will become available to meet the lifestyle needs of any family or individual.
“For the median family of four In Detroit, a basic ‘Bronze Plan’ would cost only $118 a month, and an intermediate ‘Silver Plan’ would cost only $282 a month, with federal credits. For the average 27 year old, a basic ‘Catastrophic Plan’ would cost only $105 a month, a ‘Bronze Plan’ only $138, a ‘Silver Plan’ only $157, and a high-end ‘Gold Plan’ only $181 monthly.
“I encourage my constituents in Michigan who lack health insurance, as well as all individuals around the Nation without coverage, to take advantage of these affordable options next Tuesday, October 1st when the online health insurance exchanges open. Those with private insurance or insurance provided by an employer will be able to keep their coverage. As reports continue to come out highlighting the positive ways the Affordable Care Act is reshaping the healthcare industry, I look forward to working with both my constituents and fellow lawmakers to make implementation of the law a success.”
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