The federal health insurance exchange offers health plans that are competitive, affordable and consistently meet minimum requirements, according to an analysis conducted by management consultant Abhay Padgaonkar of Innovative Solutions Consulting.
Mr. Padgaonkar examined county-level data available through HealthCare.gov, combined with demographic data from data solutions firm Synergos Technologies. Here are some of his key findings.
1. The average monthly premium for adults aged 50 or older for the second-lowest-cost silver plan is $386.
2. The average premium for the least expensive bronze plan is $174 for people under 50.
3. Less competition doesn't necessarily mean higher premiums. For example, the average second-lowest-cost silver plan premium for those older than 50 is $353 — below the national average — among 64 counties in Alabama with only one insurer participating in the exchange.
4. In 454 counties, only one insurer offers a silver plan. Additionally, there are 517 counties where only one insurance issuer offers a bronze plan. Typically, these are smaller counties concentrated in southern states such as Mississippi, Texas and Alabama, according to the analysis.
5. In each county, there are 2.5 insurers on average offering nine bronze plans and 2.6 insurers offering 10 silver plans. Counties will populations of more than 500,000 average more than four insurers, twice as many as those with a population of less than 50,000.
For more information, read the full analysis here.
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