Silver level health insurance plans on the ACA marketplace will cost Americans an average of 3.1 percent less in 2022 compared to 2021, but actual premium prices will vary widely depending on location and income level, according to a Kaiser Family Foundation analysis.
The Dec. 7 report highlights both discrepancies in county-level premiums for 2022, but also how the shifted benchmark affects subsidies for beneficiaries.
Four things to know:
1. Alongside benchmark premiums falling, the lowest cost silver and gold plan premiums for 2022 dropped 1.8 percent and 4.1 percent, respectively, compared to 2021.
2. However, the lowest cost bronze premium held relatively steady, only increasing 0.3 percent into 2022.
3. The shifting premiums mean that gold plan members will receive more tax credits in 2022 while bronze plan members' subsidies will cover less of their premiums, according to the analysis.
4. The changes also mean that in 2022, 66 percent of counties across the U.S. will cover the full cost of the lowest-cost silver plan's premium for a 40-year old person making less than $20,000. This is down from 72 percent of counties in 2021.